4. When financial issues arise even call them for discussions

It is not that easy to make your kids understand about the financial crises, it is always better to show them practically. You can also give them the example of stressed out people taking random decisions and falling in traps. Make your children an important part of your family’s financial team.  Tell them that sometimes life is harder than other times but you will work together to make the best of it.

5. Make your kids a part of your bill paying process

Have you ever told your kids about how much you pay for rent or your mortgage?  Or do they realize that every time they turn on a light and forget to turn it off, it costs you money?  Do they know that the value of water that they waste it by flowing it through the sink or shower?  From the time your children could read numbers make them a part of your checkbook balancing process.  This way they will come to know the amount of money you pay on each bill every time you write a cheque.