Teach Kids About Needs vs Wants

I think this is especially important with the holidays approaching. When I worked retail, I saw lots of cihldren's tantrums over toys, and they were all caused by parents who didn't prepare their children for shopping. Tired or sick children should not be taken shopping, and all chldren need to understand that they cannot have everything, they do not need or even really want everything, and that window-shopping and buying presents for others can be a lot of fun too.

When they learn these basics, then they can better plan for their own financial future.