A part of raising children is to teach them how to save.
I still believe in saving for what you need or like to buy instead of taking a loan. Important is that children understand that if you need money the plastic card cannot give it to you endlessly and neither will an ATM or bank.
Mine are old enough to receive pocket money once a month.
It's not much but they don't really need it either. Each month I save a bit on their account and the pocket money is meant for buying presents for birthdays, December 5th gifts and something they really like (which can be a pen, colored or candy as well). Even if they buy something the amount in their saving box increases.
Frequently we talk about money.
Bills need to be paid and decisions made. If we need something urgently and didn't safe enough yet we decide together how to lay hands on the amount or if the urge is still there tomorrow. Impulsive shopping is not our style and the children find it hard to spend the money they saved. They do not care about brands, do not hunt for the latest or so-called hottest items which makes life way easier. They compare prices, learned how to search the internet, and have a price a maximum price in mind they are willing to spend. Honestly speaking if it comes to spending they are more strict than I. I guess that is the great thing about not being a parent, not being a single parent. They never feel as if they have to spend a bit extra to compensate for a lack of time, being tired, sick, or simply not in the mood to search longer.
Although I raised my children they raise, correct, me too.
My youngest told me not to buy the ham I bought lately because it was extremely expensive (noted) no matter it's fine taste.
Yesterday I introduced one child into the world of cryptocurrencies.
I explained a bit a few years ago but I guess it was too young to be interested enough to search for more information and to ask what I was doing. This time it was different. Research was done, questions were asked, and... today we opened its own Bitvavo wallet. I just transferred the first BCH to it and a bit of money to invest in whatever looks attractive to it. Times changed and in my opinion, a child growing up in this century should not only understand the need to save to stay out of trouble, how to use a debit card but should be introduced into the world of cryptocurrencies as well.
It is good to save, our parents did not teach it because it was a way of buying something that one wanted, it was exciting that in those times it had the advantage that things; They did not change their prices, nor did the currency lose its value in a matter of hours. as it is currently happening in our country