Black Enterprise's Wealth Principle #7 is "I will ensure that my entire family adheres to sensible money management principles.†This family's story is an example we can all learn from. When entrepreneur, author and mother, Sulma Arzu-Brown and husband Maurice went to the closing of their first home last summer, it was a family affair. They were buying the two-family home from Arzu-Brown's parents for $315,000. In addition to the buyers, sellers and broker, someone else was present: The Brown's 10-year-old daughter, Suleni was there to see the final stages of a financial process she had watched from the start. [Related: Getting Your Boss to Pay Your Student Loan Debt] "We were there for about two hours, but she understood that the reason she was there was to give her a preview of what she can accomplish,†says Arzu-Brown. The Browns also wanted Suleni to experience first-hand their longstanding tradition of passing on generational wealth through real estate. "We stressed that if she ever wanted our home, she would have to buy it from us. The goal is to position her to do that by her 20s.†While some parents might shy away from frank financial talk, the Browns believe knowledge is power. "I also want my daughter to learn about managing credit cards and credit scores while she's young. While in college, I fell victim to that,†says Arzu-Brown. She ran up about $15,000 in debt during college on what she calls "frivolous things†like shopping sprees and social activities. Arzu-Brown, who makes the bulk of her income as director of events for the New York City Hispanic Chamber of Commerce, is author of the children's book Bad Hair Does Not Exist. Suleni convinced her mom to make her a business partner. She's a spokesperson and saleswoman for the book, earning $4 for every book she sells. She's made a total of $80. When she reaches $200, she will invest $150 in the stock market---choosing companies whose products she uses---and she will use the other $50 to buy more books. Continue reading on the next page... Arzu-Brown says she was conditioned to teach children about money at an early age from her parents. "My mother is all about saving money and investing in property,†says Arzu-Brown. "She always stressed the importance of saving 10% of what you earn,†she adds. In addition, Arzu-Brown's father taught her to keep her emotions around money in check. "My dad taught me that one should never fight over money, especially in marriages. He taught me that you have to respect ‘Mr. Money' by putting him in a safe place where he can grow,†she adds. Still, Suleni's parents knew their role modeling needed to be reinforced with knowledge about the financial markets and investing that they did not have. To compensate, the couple began sending Suleni to a program called World of Money last year. World of Money is a nonprofit organization founded by Sabrina Lamb that works to empower youth with an immersive financial and technology education. Suleni has learned about stocks, bonds, dividends, the importance of investing, as well as intangibles like people smarts. "She came home one day asking me how much money my friends make. I asked her why she was asking. Then, she goes on to say that the amount of money my friends make will help her determine how much money we (her parents) make. She went on to say that people usually hang out with people in their same salary range. It made us evaluate the company we keep,†says Arzu-Brown. Mom, dad and Suleni are already sharing their financial wisdom with 4-year-old sister Bella-Victoria. "We are not afraid to use words like budget, spreadsheet and barter system with either of the girls. Every word has a definition, and it's a great way to teach important vocabulary,†says Arzu-Brown. "Bella-Victoria is always there for our conversations and has proven to have an affinity for money. She really enjoys sorting through money and putting some in her piggy bank.†"Every time we are faced with the chance to share anything constructive about money, we as a family unit, do so. Each generation should have more than the last, and more to pass down than the last.†Advice for raising financially savvy children: Check yourself. Azru-Brown says it's important to evaluate your own relationship with money and whether you are using it in ways that are consistent with the values you want to teach your child. Don't underestimate your child. "Don't use age as an excuse and think that your child can't grasp important concepts. If they can operate your cell phone or iPad, memorize songs from their shows and create things with building blocks, you can introduce the words 'money' and 'budget' into things like your shopping experiences with them. Take advantage of everyday activities to share financial wisdom,†says Azru-Brown. Teach discretion. While you as a family talk openly about money, make sure your children understand that money conversations stay within the family. Arzu-Brown also says not to talk about money in the morning or late at night. "It shouldn't set up your day or end it.†Be honest. Most people have made mistakes with money. Arzu-Brown says Kreditkarma.com has been a great resource for helping them manage their credit. "Money problems are nothing to be ashamed of. There was a point that my husband and I feared looking into our credit score, afraid of what we would find. We were relieved that it was not as bad as we thought and were able to work on a plan to increase our score,†says Arzu-Brown. The point, she says, is that even mistakes make for good, teachable moments. Follow me on Twitter: @stisdale1.