Learning how to manage money is an essential life skill.

A recent study found 80 percent of people never learned financial skills in school.

You want your kids to be smart about money, but stats show nearly three out of four teens don't feel confident about their financial education.

Experts say if you want financially savvy kids, talk about money frequently and early. Studies show many financial habits are already set by age seven.

Parents should show them their kids their household budget, so they can see how much things cost. By the time they're a teenager, set them up with a simple bank account and teach them the difference between a credit and debit card.

One study showed 32 percent of teens don't know the difference and discuss long-term investing and saving for retirement.

Some apps can also help kids learn how to manage money.

Bankaroo works like a virtual bank for kids ages six to eight, helping them manage their money and set financial goals.

Gohenry allows you to assign chores for your kids and pay them upon completion, and every dollar is a good app for teens.

It helps them create an income budget with ways to help your kids become financially responsible adults.

A recent poll found that four out of five parents said they wished they learned more about money as a kid.

Now, parents may be getting a little help.

Many high schools and colleges are offering classes in finance to help kids better prepare for their futures.