I've been requested by @neK to write about bringing up our kids, as per the below post. I'll try to be as honest as I can on what we did, while keeping the personal details out, as I'm sure that if either of my children want to make their current situations public, they are perfectly capable of doing so themselves. Well, as most of you know, we have two adult children. When they were young, we opened a Roller Skating Rink, and they ended up, due to our situation, working along side us from the ages of 8 and 10. When we closed the doors, they were 10 and 12. They both worked very hard, and we paid them both the equivalent of the junior wages at the time, however half of this amount was taken off of them each week, and deposited into an account that they were not allowed to touch. This was a hard time for the whole family, but both of the kids learnt and grew a lot through those years, and were more efficient and reliable than any of our other staff that were much older than either of them. When we closed the doors, both of the kids had a nice little start in their accounts and were used to having money to spend. During those years, we were heavy readers of Rich Dad Poor Dad type books, and every time the kids wanted something, we'd ask them if it was a want or a need. Later, when we moved to Sydney, we paid for all our children's needs, but insisted that they work towards their wants themselves, and gave them opportunities to earn income around the house. I'm told these days that I was too stingy in my payments.....but we weren't earning a lot of money, AND we were paying a very large amount each week for sport, and did the best we could with the available funds and I was often caught saying something like "you don't NEED another skirt, you WANT another skirt". They only received presents at Christmas & Birthdays. At 13 the eldest started work at a local Pizza joint, then got another job at Go-Lo, the youngest worked at Macca's at 14. I'm a big supporter of getting them out in the work force, and learning first hand the value of money. Now, it was very hard for both of them at this age, because based on where we were living, most of their friends were receiving Youth Allowance, and were allowed to blow the lot any way they wanted. Our kids didn't get Youth Allowance, and the only way they could get an income was to work for it, and then mean Mother insisted that half go back into that bank account that they weren't allowed to touch. One of them fought me constantly on this, the other did not. In fact the other one would add extra money into her account, and I remember very clearly the first time the penny really dropped about my constantly telling them that small amounts add up over time. A friend of one of the children also worked at the same place, and she used to give all her pay to her mother each week to help pay for 'stuff'. One day, as I was waiting for my child to finish work, the mother of the other child was also waiting. She was telling me a sob story about how something was wrong with the car, & she couldn't afford the $500 to fix it. I related that story to my child, without divulging that it was her friend & her mother I was talking about, changing a few details but reinforcing what she was now starting to realise, that she already was a lot more wealthy than some adults. Anyway...that's it in a nutshell really. Learn the difference between wants & needs. Learn to budget & pay for your wants (it's funny how many wants, aren't that wanted when THEY have to pay for them). Pay your own way. Work! Save! And just generally be open & talk to them. It's the budgeting that is very useful, and one of them worked out that they could be the dedicated driver to events, thus not having to pay for alcohol (expensive) and the plus was that friends would volunteer funds for fuel. Oh, and just for laughs.....this child was an entrepreneur in the making. One child about age 5 or 6 asks me for an ice-cream cone one day, standing outside of Wendy's. I give them $2 and they ask could they keep the change. I said yes, it was $1.95, and she promptly went to Maccas for a 30c cone. So, then it became the norm to ask for an ice-cream, and could they keep the change. Answer yes, and they'd go to Macca's, answer no, and they'd go to Wendy's. So, I guess the apple doesn't fall far from the tree. At age 18 they both had access to their money, and both of them had some serious dollars saved by that time.