Teaching the subject to an older child may be a bit more difficult. There are many math problems out there that can be used to bring it down to their level. Using this subject in an everyday situation is a one idea. For example, tell a story that involves that child. If he goes to the store and buys a gallon of milk with a five dollar bill and the milk is only three dollars, how much money will he have left? Using word problems will help the child understand it more.
You may want to let them try and work out how long it will take you to travel somewhere when you get in the car, by telling them what speed you'll be traveling and how far away your destination is.