There are too many people in the world today who have never been taught basic finances. Their parents didn’t show them. The schools didn’t show them. What little they may know they have usually learned by hearsay or from the media – neither of which are the best sources around. Start kids off early learning how to create and maintain a budget.

1. Get a set of blank checks from you bank. Teach the children how to write checks.

2. Get a register from the bank as well. Show the children the importance of maintaining an orderly register.

3. But it into practice. At the beginning of each week, give your children 100 “dollars”. Require that they write a check for certain activities – so many for an hour of television or computer time or things of that nature.

4. Check their work at the end of the week and give them a bonus for good work (a family movie night could be a good incentive).

Learning basic finance skills, like keeping a well maintained checkbook, will help children function better in the future. The more they can learn now the better off they will be tomorrow. If you don’t know the best way to teach your children about checkbooks, check with your local bank to see if they offer some kind of teaching tools.