Money-Smart Kids / Don't miss Sept. 16

Now here's a movement worth getting involved in. American Express, in partnership with financial journalist Jean Chatzky, are rallying families to make money the topic of conversation around your family dinner table on Sept. 16 . The concept is both simple and extremely effective.

Parents who visit www.moneynighttalk.com will be able to sign a pledge that they will make money a topic of conversation at the dinner table this special night. The website even provides possible questions for various age groups. Simply click on one of these three options: 1) middle school; 2) high school; or 3) college; and the guide pops up for you to print out.

For example, the middle school guide provides a suggested introduction followed by a series of questions such as:

"¢ "How much do you think it costs to pay our bills? How many bills do you think we pay every month?"

"¢ "If I gave you $20 right now, how much of it would you save, spend and give away?"

"¢ "What's the difference between a debit card, a credit card, a prepaid card and a charge card? Why would you use one rather than another?"

After each of these questions there are suggested follow-ups on how to guide the conversation. At the end of a particular middle school version, for example, is a suggested dialogue on how to introduce allowance.

I would imagine there is a cynic among us thinking, "Sure Tom, this is just another ploy for the credit card companies to get their hands on our children." While I can understand why it would be easy to jump to this conclusion, let's think about it.

Are credit cards bad? What would your life be like if you didn't have a credit card to pay for things? Would you be able to go online right before the holidays and avoid the long lines in the store by just clicking a button and giving your credit card information?

Maybe we can agree the credit cards, in-and-of themselves, are not evil. But the lack of education on how to utilize these important forms of currency is certainly a problem. One could logically be led to the conclusion that if they are a necessary part of life, why wouldn't we give our kids a chance to practice with them? You wouldn't send you child to tennis camp without a racquet. Then why would you send your child out into the world of money without a credit card they have practiced with, under your supervision, to the point their credit card spending is aligned with your family values.

And if AMEX wants to be creative in sponsoring a movement to raise the level of financial literacy in our households, then I for one celebrate their effort and would gladly give them my, and our family's credit card business, simply for trying to be part of the financial literacy solution.

Tom Henske, a Westport resident and partner with Lenox Advisors, a wealth management firm with offices in New York City and Stamford, developed the Lenox Money-Smart Kids Program in conjunction with MassMutal Financial Group. He can be reached at thenske@lenoxadvisors.com