Personal finance is one of those subjects you want to trust your children to learn outside the home.  It is imperative that you start to teach them about handling their money frugally as soon as possible.  Even if you have your own personal finance issues, you need to show your children that you can make sound financial judgments.  They pay attention to you.  You are their role model.  Teach them that it is good for them to be able give and be generous but not to their detriment.  This will help them learn how to budget their money and become confident when handling it.  Allow them to spend their money on what they wish after providing them with sensible advice.  And if they decide to save all of their money for later, encourage that too.