Wisely Be a good role model.
Children model their parents' spending habits.
If they see their parents buy the latest and greatest gadgets, trendy brand-name clothes and expensive meals, they will probably do the same. Save and share, too . Saving and sharing are also important aspects of using money wisely. Parents can encourage their children to save a percentage of their income or even match what their kids save. Children will need help from their parents to set realistic savings goals, such as a new bike or a college fund.