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Like most women, Thelma Tesci loves to shop, but the euphoria of finding something she likes and clinching a good deal  disappeared after she had children.
It wasn't that she no longer had time - it  was because shopping with her five and eight-year-old daughters often turned the experience into an ordeal.
'Whenever we went shopping, the kids would always be saying,  'I want this, I want that; can you buy this, can you buy that?' They ended up accumulating so many things  and a lot of money was wasted,'  she  says.
'It was difficult to explain to them why I wasn't willing to buy  what they  wanted - even though  I  could afford it. What they were asking for wasn't  expensive, so  do   I stick to  my principles or give in?'
Tesci's predicament is not unusual.  She epitomises the struggle of many parents who   are finding it increasingly tough to balance  wanting to provide the  best for their  children while preventing them  from becoming spoiled.
Experts say the recession, which has triggered concerns over spending and worries over job security, could provide the ideal time for parents to broach the subject of financial education with their kids, and to  begin  teaching them about money and the concept of saving.
'It's important to start teaching children when they are young. Financial illiteracy is  something you could carry into your adult life,'  says Minal Jain,  who runs Leverage Education Services   and provides financial literacy courses to children, teenagers and adults.
'If the habit of saving and spending wisely is inculcated from a young age, it  builds confidence in  children and  enables them to better handle money when they grow up,'  says Jain.
Parent and teen coach Carol McNaughton Ho  says it is important to proactively discuss with teenagers what's happening in the world  most notably the current state of  global  finance.
'Rather than assume these issues don't affect them, parents should engage their  teenage children and use this opportunity to open up a conversation about money. Listen to  their ideas and opinions, and teach them about the situation,'  says McNaughton Ho.
'It's far better to say to your kids,  'As a family,  we're going to be more prudent in our spending given the   economic situation', rather than keeping  them in the dark,' she  says.
'Teenagers feel much better if they know what's going on. Don't  try to pull the wool over their eyes, otherwise  you'll lose their trust. Honesty is always the best policy. At the end of the day,  it's far easier if  you're open.  By teaching them about money, they can help you tighten the belt,' she  says.
From  Jain's experience of teaching kids, both in schools and one-on-one private sessions, much of the drive behind going to  classes comes  from the children.
'They're constantly asking questions because  there's so much for them to learn,' she says.
It was after taking one of Jain's courses that Tesci observed a profound change in both her daughters. Instead of petitioning her for the latest school fad, the girls began to question  her purchases, in particular, her weakness for shoes.  The sisters now hunt  for 'special deals' in the supermarket.
When  Tesci sat down to explain why the family had to watch their spending more closely this year  after the recent purchase of their home, she was impressed by how the  girls took it in their stride.
'Despite buying a smaller Christmas tree and skipping the annual ski trip during Lunar New Year, they understand the reasons behind these decisions.  In fact,  my elder daughter  now questions what I buy when we go shopping together, and that's good because it  rubs off on her younger sister,' she  says.
Six years of age is typically a  good time for parents to begin discussing the concept  of money with their children, experts say.  Depending on the maturity of your child  you  can even  provide them with small amounts of pocket money  so that they become familiar with  money early.
This is something Clive Kwok,   a finance professional, has tried to teach his children. Though his  son, eight, and  daughter, 10, rarely have the opportunity to spend cash of their own, giving them wallets,  each with HK$100,   helps them  understand what money is and  how  it's used.
'I have heard that children can have a lot of misconceptions about money. Some think it just comes from an Octopus card, others think it sprouts out of the ATM machine. The concept of money can be  quite abstract to children, especially if parents top up their children's Octopus cards all the time,'  says Kwok.
Now that both the Tesci girls have their own bank account and each a weekly allowance of HK$30, they no longer need to  pester their mother for the purchases they  wish to make.
'If they want something these days,  there's the understanding that  they'll pay for it themselves,' says Tesci, noting her older daughter has already used her savings to buy herself a bike.
The pocket money system can  take the pressure off parents when it comes to buying.
'It doesn't matter how calm  you are. If you have kids who are saying 'I want' all the time, that inevitably  pushes the stress level up. By giving them their own money to spend,  you're allowing them to learn as they go so  they'll be  ready to manage their own finances when they go off to university,' says McNaughton Ho.
After a detailed conversation about spending habits and expectations, McNaughton Ho began providing her daughter  with a monthly allowance when she turned 14.
'Decide your own parameters.  Be clear  and set your limits ahead of time. At the start, monitor how your  children are doing with the budget, ask them what's been challenging and check  with them regularly to see how  they're managing,'  she says.
Parents typically find  refraining from interfering in their children's spending the most  difficult.
'There is a big distinction between support and stepping  to the rescue. If you solve their problems  all the time,  they won't learn,' she says.
'Learning about the concept of money is  like learning to drive a car.  You have to sit in the car and test  the gears.  They have to be allowed to make their own mistakes.  The process  will also help  them to make decisions.'
In   society today,  where peer pressure  to purchase the latest computer game or electronic gadget is rife, teaching your child the difference between  wanting something and needing it, is an important step.
'We explain to our kids they  don't need to buy something every time they go to Toys 'R' Us.  They can also window shop. We hope to slowly give them the sense that they can't  have everything.  If they always get what they want, they won't treasure it as much,' says Kwok.
Tesci has  been educating her girls about the concept of quality over quantity, and the fact that the best things don't always require spending. Her daughters have a  better understanding of charity too, she says, donating old toys and raising money for people in third world countries.
That the attitudes of two  young girls can be transformed so quickly is  an indication of children's  ability  to quickly  grasp  monetary concepts.
But Jain emphasises that for children to achieve a level of understanding, parents can't simply pack them off  on financial literacy courses.  They also need to reinforce  much of that learning at home.
'Some parents don't bother teaching their children about financial literacy because they assume  they'll eventually learn it anyway, or they might feel uncomfortable talking about money because it makes them feel too money-minded,' says Jain. 'But  at the end of the day,  it's just about helping kids grasp reality.'



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