There's no reason that you can't learn with your son or daughter. You might be surprised to find that they respect you for admitting a shortcoming and being willing to learn. Money is one of the most important subjects for your child to learn. Credit card issuers are targeting teens as a growth market. Many kids are on the monthly payment treadmill before they reach their 21st birthdays.
College loans present another pitfall.
Borrowing for college is easy. But soon students learn that paying back the loan is hard. Sometimes very hard. If you teach your child only one thing about money, make sure that they understand how compound interest works and how it affects borrowing and saving. That one lesson could make the difference between a comfortable or miserable existence later in life.