Kids going back to school are going to learn book smarts, but will they be „money smart“ as well? The Jump$tart Coalition for Personal Finance and Literacy reports that in its most recent test of high school seniors’ money literacy, the average score was a barely passing 52.4 percent.

You can help your kids earn an „A“ in money matters by developing their financial skills early. Here are five tips to get you started:

Don’t reward good grades with money. Janet Bodnar, author of „Raising Money Smart Kids,“ says that „buying grades“ distracts children from the real reward — the sense of accomplishment they should feel. It’s OK to use it as a motivator in small amounts over limited periods of time, but it should never be the primary reward.

Use an allowance. An allowance is still one of the best ways to teach kinds about managing money. It helps them distinguish their needs and wants and demonstrates the power of saving. Work out a regular schedule and stick with it — and let your child know in advance when she will have an „annual allowance review.“

Incentive pay. Encourage kids to save money by rewarding their efforts. Set up a matching program — for every dollar your child saves, offer to put down anywhere from 5 cents to another dollar for it. Such incentives encourage children to save, which can develop into a lifelong habit.

Don’t keep your kids in the dark about costs. While it may seem polite to not discuss money, you’re doing your children a disservice. Share the restaurant check with them, or talk about how much gas costs each month. If you shield them from costs, you may prevent them from being able to manage their own money when they have to.

Have an idea of what your child spends money on. You don’t need to account for every penny, but you should have a general sense of how they spend their allowance or earnings. It will help you anticipate future problems and keep them from spending (or saving) too much.

Check out new phone options

With the advent of cell phones, Internet phoning and new technologies such as Skype, you can save a lot of money on long-distance (and local) calls. But it can also be confusing to navigate the myriad options and still get the best service for your buck. Consumer Reports offers some suggestions on how to save:

Try Internet phoning. It’s not as complicated as it sounds. To get started, you need something called Voice over Internet Protocol (VoIP), which relays phone calls via a high-speed Internet connection. Service costs about $20 a month or more and offers unlimited local and long distance calls — which could save you about $400 a year if you already have high-speed Internet. You’ll also pay less in taxes. Check with your cable company to see if it offers a package with your cable or DSL, or try a company such as Vonage, which specializes in VoIP. Just remember, you must have an Internet connection and electricity for it to work — so have a basic landline as a backup.

Go totally mobile. You could get rid of the landline altogether and save.

Just get a cell phone plan that offers you enough national anytime minutes. Cell phone connections are still less reliable than landlines, however, so be sure that your phone works in all areas of your home. And if you live in a rural area, be sure that your local emergency operator has an enhanced technology called E911, which allows operators to get locations for cellular callers.

Shop. You can find a cheaper cell phone plan — you just have to look. The plans that are promoted by the cell phone companies may not be right for you, and you could find a better one just by doing a little digging. Call your cell phone carrier or look at its Web site for more options. Read your bill carefully — are you paying for services such as text messaging and picture mail that you don’t even use?

Bundle your local and long-distance calls. Some companies, AT&T and Verizon for instance, allow you to buy unlimited long-distance and local service from the same company. Determine your calling habits — do you make a lot of long-distance calls? If so, it might be worth it.

Phone cards still work. These prepaid cards can save you a lot, especially when you’re staying in a hotel that gouges on its calling rates.

If you don’t make a ton of long-distance calls, the phone card might be a good option. Shop for them at warehouse clubs such as Sam’s to get really good deals.

If you do your research, you could get rates as low as 3.5 cents a minute.