By a show of hands: Did your parents teach you how to balance a checkbook? To use a credit card responsibly? To save for retirement?

If you’re like most people, very few of you raised your hands. In fact, most of us just learned by doing and made a lot of mistakes in the process. (I know I did, and I messed up a lot!)

Here’s the truth: teaching your children about money, budgeting, saving and planning is one of the most important things you can do as a parent. In fact, the earlier you start introducing these concepts, the better.