(WTNH) — It’s Financial Literacy Month, and experts recommend parents talk to your kids about money regularly, especially as they approach college age.

Credit cards, student loans, and debt are all major challenges for college students. But, parents can help them avoid financial ruin by having these key conversations.

First, financial experts recommend talking to them about spending and figuring out where they can make cuts to save more.

“What gets measured gets improved,” Smartpath Financial Alok Deshpande said. “Even if you have caviar taste, as long as you’re tracking it, you will get the information to make adjustments yourself.”

Second, experts said to teach them how to invest money early.

“You can start at 21 even, contributing to the match in your retirement plan, 10 years later you’ll look and say oh my goodness, I’ve got $50,000 or $100,000,” Deshpande said.

Third, emphasize the importance of managing student loans and controlling their credit use.

“When the bank allows you to have credit, the lesser you use, the higher the credit score,” Deshpande said. “It looks like you’re more responsible with it.”

Finally, discuss how to negotiate.

Experts said if the art of deal-making is nurtured early, it can translate to future financial success.