OK. You give your children an allowance. You try to get them to save. And you show them how to find great deals.

But is that enough when it comes to teaching your children about money? Probably not.

For the male co-author of this column, there was more. Needless to say, the lessons he received have proven quite valuable.

As a child growing up in Sharon, Mercer County, his father took him to meetings with his stockbroker and insurance agent. By the time he was in the seventh grade, he knew how to buy undervalued stocks, based on stock prices in relation to corporate earnings. He also learned about whole life insurance.

One of the most important things you can do to help your children learn about money is to have them attend financial discussions between you and your spouse.

If you meet with an insurance agent or financial planner, why not let the offspring tag along? Just make sure the financial professional you've selected is top-notch.

Loral Langemeier, author of "The Millionaire Maker" (McGraw-Hill), offers more tips on raising financially responsible children. She suggests:

Establish a savings account, which she calls a "Wealth Account," for your child when he or she is born.

Start lifelong habits by teaching them to put a fixed percentage of their allowance, gifts and later earnings from part-time jobs into the Wealth Account. Even if a child gets a small gift, have him or her put half into this special account. The practice of automatically paying yourself first can go a long way toward creating long-term wealth.

Take time to point out the growth of the account.

Share positive financial information with your children. Never say that you can't afford something.

Share the realities of business with your children. If they lose money on a lemonade stand, help them figure out why. Help them determine what they need to change to make a profit.

Establish money days -- maybe monthly. During those valuable sessions, share what you've learned with your children about money.

Ask your youngsters open-ended questions about their schedules and plans. You want them to learn the value of sequencing, decisive thinking and communication.

Encourage your children to give part of their earnings to charity.

Carl George, CPA and chair of the American Institute of Certified Public Accountants National CPA Financial Literacy Commission, provides some other suggestions:

Help your child understand how interest compounds by showing him or her all the "free money" that deposits have earned.

Offer to match your child's savings toward a long-term goal.

Let your child take a few dollars out of the account occasionally. "Young children who see money going into the account but never coming out may quickly lose interest," he said.

Have your child set goals, developing an incentive to save. Write down each goal, and the amount that must be saved each day, week or month to reach it.

Tape a picture of an item your child wants to a goal chart, bank or jar. "This helps a young child make the connection between setting a goal and saving for it," he said. But beware. Young children may lose interest in goals that take longer than a week or two to reach. If your child fails to reach a goal, chalk it up to experience. Over time, your child will become more disciplined.

Financial goal-setting, incidentally, is quite important. Research has indicated that this practice, which can go a long way toward boosting wealth, is omitted in far too many families.