As your children become interested in money through an allowance or a birthday check from grandma, start teaching them how to handle it wisely. Open a minor membership account and help them start saving.
2 Make Financial Goals
Set savings goals with your children and discuss the best ways to achieve them. Is there a new toy they're pining for? How long will it take to save up enough allowance to make the purchase?
3 Teach Smart Spending
As their savings grow, start instilling responsible consumer behavior in your children. Help them avoid impulse buying and demonstrate how to compare items based on price and quality.