1. Start talking about money. "Open up the conversation," Suze says. "As we said earlier, kids do as you do. Not as you say. So for you, you now have to open up the conversation with your actual actions."
2. Teach your kids to value money. It's hard for kids to grasp how much you're actually paying for items when you do so with a credit or debit card, Suze says. Kids need to see something more concrete. "Start paying for things in cash. That's what you really need to do," Suze says.
3. Don't reward your children with money. An A on the report card doesn't equal $50, Suze says. "Love them. Spend time with them," she says. "[They'll say:] 'I got an A. I get to go out with Mommy and Daddy. I get to spend time.' Teach your children the value of a personal relationship—not that everything comes down to money."
4. Be an example for your children. "Kids do as you do, not as you say. And don't think that they don't watch everything that you do," Suze says. "Don't tell them you can afford something when you can't. All kids want from you is honesty. All this world wants from you is honesty. And all you should want from yourself is honesty."
5. Teach your kids to prioritize. Sure, kids may want everything, but Suze advises to have them sit down and make a list of what they want the most. "If they still want it a month from then, let them come back to you, but prioritize. What is really important?" she says. "And Mom and Dad, help them prioritize—what do you need versus what you want? And out of all the things you want, what's the most important thing that you want?"