Because immediate satisfaction is often far more tempting than the promises of the future, you may have difficulty convincing your younger children to save their money. Teaching them the value of learning to save and invest seems a near-impossible task. However, an article in Kiplinger's describes an author, Sam Renick, who wrote the book It's a Habit, Sammy Rabbit!, in which Sammy learns to build up a stash of carrots, and then saves the day for his family when a storm washes away their storage shed. Renick has spent many months on the road, taking his message to schools—a rather unusual approach to financial education in the classroom.

While few states require such courses, Renick feels that only parents can really give kids hands-on lessons in managing real cash. For more information and training resources for your children, visit www.itsahabit.com.