"Train up a child in the way he should go; even when he is old, he will not depart from it.
" - Proverbs 22:6

Home, being the first school, teaches the very basics of everything about life.
It is where the foundation should be well-observed because it is also the place that molds the budding mind of an individual.
Parents or guardians as the first teachers should be critical enough in selecting between what and what not to teach.
The scope of what is taught at home differs from what is taught in school, home being practical and school being academic.
One very good example is on the matter of financial literacy to young children.
Never had I known any school that includes a subject or course in their curriculum about MONEY.
Having said this, as home being the first school and the parents/guardians being the first teachers, it should be taken into account teaching the youth about finances at its simplest and practical form for their easy understanding.
Here are my NINE basic tips to effectively teach your children about money, as follows:

1. Be a role model.
   The children easily imitate what they see and hear from people they look up to.
   As parents/guardians, be mindful of every word and action because children are watching you, both consciously and subconsciously.
   
2. Talk as a family.
   It is always worth talking about sensible topics or issues as a family in your kitchen table like simple viewpoints about money and saving.
   Young minds easily absorb basic thoughts upon constant exposure.
   
3. Teach simplicity.
   Implementation from the very beginning is the key.
   Take it seriously to adhere to the teachings and true enough, children will live by them, to avoid the "buy this & buy that" attitude.
   
4. Show the value of money.
   Kids see money as an object used in exchange of something, but they have to be guided that it's not always permissible to have this little object exchanged for everything.
   
5. Give incentives.
   Make them do simple tasks at home and give monetary incentives in return to keep them motivated.
   
6. Do the "Fill-Up-The-Piggy" contest.
   Make them fill their piggy banks the fastest and reward them in exchange of a job well done! Children always love a treat.
   
7. Engage them.
   Invite your children to get involved in some of your financial journey.
   Share your reading materials, books, newsletters, etc.
   Be open to their questions and answer them from the heart.
   Connect to them at their innocent level.
   It is so perfect to fill their young minds with basic information that are to be retained for a long time.
   
8. Teach the "Hard Work Pays" attitude.
   Encourage them to strive more and explore their potentials.
   CAUTION - Refrain from complaining about money because this will give them the impression that hard work does not pay.
   Make them understand that whatever the amount is planted is the same amount harvested.
   
9. Open bank accounts in their names.
   With parents'/guardians' supervision, open accounts for them.
   The small passbooks or ATMs with their names on them will generate a higher self-esteem and a sense of pride and independence.
   This will make them more encouraged to save.
   

Let the little minds be educated with vital things like financial nourishment towards responsible and more mature individuals.
They deserve the best things in life.
It is in the value of our good teaching that makes them remarkably equipped as they grow.
What parents have taught and will teach can greatly affect the children of what they are to become in the future.
Give them the best ingredients, so that they can cook the best recipe!