This is a very important topic to me as an adult learning daily how to be a good parent (they do NOT come with an instruction manual!). Since I didn't have the best example growing up (financially speaking), I don't always have a 'healthy relationship with money' as the author states as an essential of becoming a successful adult. He states that amongst other responsbilities as a parent, "...you also have a new obligation to teach your children about money so that they grow into adults who are at home in the financial world and who have a healthy relationship with money."
We've been talking about starting a small allowance for our children, tied into small tasks/chores around the house. They're 5 & 7, so we figured we'd start with things like helping Mom and Dad load/unload the dishwasher, feed the cat, and put clothes in their hampers.
From the list above, I especially like #8. It states that you should only spend 50% of what you've put into the Piggy Bank at any time. Love it! This will be a tough lesson for 7 year-old. Money definitely burns a hole in her pocket and she loves to get the most for her money (e.g. she'll buy 5 things at the dollar store with $5). The 5 year-old is going to be my miser. She'll save until she can save up enough to buy the gadget she's had her eye on. Parenting is so exciting!
It's a start.
