Money has never been a secret or taboo subject in our immediate household, but it is never discussed beyond the three of us. DH and I always felt that teaching our son how to understand money and the principles for building wealth were as fundamental as teaching him how to tie his shoes, take out the garbage, care for his cat, protect his belongings, etc. He never had a paycheck until he joined the Army, but the Army, too, taught him not only how to manage and invest his own but also how to financially guide the enlisted entrusted to his care.
We thought we’d always have a good idea of our son’s salary because military rank pay is public information. We’ve since learned that published pay vs. actual pay can be miles apart. In addition to BAH (Basic Allowance for Housing), our son’s compensation includes certification pay, development pay, and deployment pay as well as commendation and retention bonuses. He has shared all of this with us.