From the author of Get a Financial Life, a guide showing parents how to teach their children (from toddlers to young adults) to manage money in a smart way. Many of us think we can have the 'money talk' when our kids are old enough to get it - which won't be for years, right? But research shows that even preschoolers can understand basic money concepts, and a study from Cambridge University showed that basic money habits are formed by the age of seven. And the number one influence on kids' financial behaviors is mom and dad. Clearly, we can't afford to wait.