PITTSBURGH -- In today's 'netWORTH I talk with Phyllis Silverman, a Senior Trust Advisor and Vice President with PNC Bank.

She has wonderful ideas for parents wanting to teach their children about money.

To see our conversation, click on the video on the right of this page.

Phyllis says we should talk to our kids about the meaning of money at an early age. She says to remind them that an allowance is not an entitlement but rather a tool for teaching the importance of: saving, budgeting, and giving.

I love her idea about creating "bucket accounts". Parents can take three containers and label them: Saving, Spending, and Giving. (Perhaps a forth called "Taxes" can be added for older children). The child can learn to divide up his or her allowance into the buckets and watch money grow, make wise choices about spending, and even feel the satisfaction of helping others by donating to a favorite charity.

Phyllis also has great thoughts about whether it's right for your teen to get a job, how much about your personal finances you should share with your child and why communication is key to helping your child understand the meaning of money.