Parents are often charged with the task of teaching their children how to handle money responsibly.

The National Foundation for Credit Counseling’s 2010 Financial Literacy Survey addressed where consumers learned the most about personal finance. The majority of respondents, 41 percent, said they learned their personal finance skills from their parents or at home.

On the surface, that seems like a fine place for children to learn about money. However, another survey question allowed respondents to grade themselves on their own knowledge of financial literacy. Nearly 77 million people, or 24 percent, gave themselves a grade of C, D or F, leading to the conclusion that those in charge of financial decisions at home may need some additional financial education themselves.

“A person can’t teach what he or she doesn’t know,” said Joy Thormodsgard. “We’re living in a time where an abundance of personal finance courses, books and other tools are available, meaning that dads and moms can take advantage of the opportunities to not only improve their grasp of financial literacy but also positively impact their children.”

Children mimic their parents’ attitudes and habits. Adults need to not only teach but also demonstrate sound personal finance habits.

Look at the following checklist to see if family behavior reflects what’s being taught:

•Is saving emphasized? Americans are good spenders but rotten savers. A robust savings account is a safety net against unplanned expenses, emergencies or loss of income. Saving shows children that their parents place a priority on preparing for the future.

•Is the family bill payer financially organized? Are late notices arriving because someone forgot to pay? Robbing Peter to pay Paul because due dates don’t coincide with paydays? Putting all the financial papers in one place and reviewing them weekly will provide a sense of control over finances and teach the children well.

•Are there arguments over money? Even if parents try to hide it, if there’s tension in the home when money’s discussed, the kids will sense it. Money then becomes a scary subject to them, one to avoid. They will likely carry this fear into adulthood, potentially causing problems with financial decisions within their own marriage.

•Do parents hide purchases? The children were probably present when the item was bought and they saw a parent hide it so the spouse wouldn’t see it.

This isn’t teaching appropriate behavior on many levels.

•Do the parents avoid answering the phone or opening the mail, fearing more communication with debt collectors? The family will realize that something strange is going on, plus collectors can’t be ignored forever. It’s always better to deal with the problem rather than running from it, as postponements only make the situation harder to resolve.

•Is the family involved in financial decisions? Doing so provides ample opportunities to teach positive principles about money. Bring the children in on decisions that affect them, things such as which cable package to buy or how many pizzas should be ordered each month.

Have a full discussion around the benefits of the decision, including what else could be done with the money saved.

•Are the parents generous givers? The children will observe their parents supporting the Little League team, charities or the homeless.

The gift of giving, which starts at a young age, will likely stay with the child for a lifetime.

“The home is filled with teachable moments around money,” said Thormodsgard. “Knowing that your children will likely follow the financial examples you’ve set is a strong encouragement to get your financial ducks in a row.”

This story is provided by SurePath Financial Solutions.