For most teenagers, spending money seems to come naturally. But that doesn’t mean they know how to manage it. In fact, the JumpStart Coalition for Personal Financial Literacy recently found that only 10 percent of 12th-graders could satisfactorily answer questions about personal finance. Some couldn’t balance a checkbook. Yet many high school students have, and regularly use, credit cards – with little or no understanding of how interest rates, skipped payments or continual high balances can impact a person’s financial future.

So whether you’ve already begun the process of instilling sound money management in your teen or you’re searching for ways to begin, you may find the following tips helpful.

• Lead by example. Take a look in the mirror. If, for instance, you budget effectively, invest wisely, pay down debt and donate to charity, most likely your children will learn by example. Financial responsibility is one area where a parent’s actions definitely speak louder than words.