Though 83 percent of parents recently polled by Ally Financial said that saving is one of the most important financial skills for children to learn, close to 9 out of 10 parents admit that they don't talk to their kids regularly about it.
"It's surprising but believable: Parents feel uncomfortable having conversations with kids about money," said Jacqueline Howard, director of corporate citizenship at Ally.
To that end, the American Bankers Association is holding Teach Children to Save Day on Friday, April 28.
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This annual program encourages bankers to teach youngsters about the importance of saving more, plus other basics around financial literacy.
Ultimately, the taboo aspect of money is what deters parents from broaching the topic with their kids.
"You don't want to explain how much you make, how much you spend and save," said Howard.
All of that awkwardness is getting in the way of some very productive steps moms and dads could be taking with their children.
For instance, nearly three-quarters of the parents in the Ally survey said they encourage their kids to save, but only about half said their child has his or her own savings account.
A third of parents said it was important for their kids to learn the importance of making donations. And 56 percent believe children should learn how to steer clear of impulse purchases.
The bank polled 2,237 adults in March; 627 were parents of children under age 18.
Once you're ready to educate your child on personal finance, remember to take it slow.
"I have an 8-year-old who thinks if I use my debit card, I can pay for anything," said Howard. "There are other parents who run into that issue."
Here's where you can start.
"Parents tend to set up these accounts and not tell the kids," Howard said. "They'll have no skin in the game to know that they are part of the saving as well."