• Discussing finances with children can pay off later in life, helping adults learn how to advocate for a pay raise— finds Bankrate.

Talking money with your bumbling toddler isn’t most young parents’ dream, but it seems as if financial discussions during childhood might pay off later on in life. Of course, waiting until they’re a bit older and have a sense of object permanence might be key.

That’s because adults who had a variety of financial experiences growing up were more likely to have confidence in negotiating their salaries, according to a Bankrate survey of more than 2,600 U.S. adults.

Respondents answered questions including (but not limited to ); if they worked a job before the age of 18, paid off debt, had an allowance for doing chores, and talked about money with their parents or in school. While 46% of respondents were categorized as receiving a strong financial education under said criteria, 54% did not qualify as being considered as having a strong financial background.

Those with greater experience around finances in their early life were 1.5 more likely to have negotiated a raise compared to those with little to no financial education. Sixty-six percent said they have successfully negotiated a pay raise at least once every five to 10 years, including 33% who have done so at least once a year and 10% who have done it more than once a year.

Meanwhile, 40% of Americans who didn’t experience money conversations as children say they never successfully negotiated a raise, that number changes to 22% of Americans who report having a strong financial education.

That being said, other factors and structural barriers are at play when it comes to climbing the corporate ladder. Racism and sexism at large in the workforce stop people from marginalized backgrounds from getting the raises they deserve. People of color are less likely than white workers to get the raise they ask for, according to a 2018 study from PayScale— women of color are 19% less likely to get a requested raise than white men.

Financial education early on can help pave choices later

Talking about money seems to shape more than just one’s ability to ask for a raise, it appears to also impact one’s comfort and confidence around finances later on.

“I think we have to bring money to the forefront for children, especially since these days money is very mystical since it spits out of machines and we pay for things on phones and cards,” asserts Mellody Hobson, the co-CEO and president of Ariel Investments, as well as author of a new book on financial literacy for kids.

Respondents who say they were raised with a strong financial education reportedly were more likely to implement healthy financial habits in the past year. They were more likely to say they pay their bills on time (80% vs. 76%), save money (57% vs. 43% ), and invest (29% vs. 18%).

“If we can unlock the mystery of money, we can help people end the trauma they have around money,” Hobson said. “It starts in childhood. You learn all of your money habits from your parents.”