All parents will agree that teaching your kids how to be responsible with money is one of the best and most important life lessons you can give them.
The sooner you start to do it the better is the advice of most experts.
It's true that children are aware of money long before they can do any basic kind of math to calculate or understand it.
To them it's just something Mom or Dad gets from the ATM and you can buy stuff with it, simple right? It requires a more mature mind to understand that you must work for money and it isn't always that fun to do it.
So the first thing to teach is how money works and start young as it can be much harder to instill these lessons to a teenager! Actually studies have found that once children are taught how money works they develop their own conservatism towards it instinctively.
Once they learn that can collect money and eventually buy things they desperately want most start to hoard money as if there were no tomorrow! It's a nice parenting reward to see that you child is well no the road to understanding money and developing the correct habits to keep them from getting into trouble latter on in life through reckless spending and debt.
The best teaching tool is an allowance and I'm sure most of us can remember our own when we were children.
Try not to give in to your child's demands for wanting everything instantly.
Let them experience the reality of waiting and saving in order to be able to afford the things we want in life.