My husband and I weren’t too keen on the idea of just handing out an allowance to our two grade-school children, so we developed a list of paid chores that went over and above normal household duties, and we started giving them money for their birthdays. Also, to encourage saving instead of spending, we match every dollar our children put into their bank accounts up to $100 a year. (Morrow, OH)

We opened mutual fund investments for our grandchildren. Several of them are now very interested in careers in investments or banking. I also copy every news item I believe may be of interest to them and I help those who appear interested search the newspaper for daily prices, etc. (St. Louis, MO)

We held our kids to a budget, and they had input into what was purchased. If they wanted brand-name jeans, they wouldn’t get expensive shoes, too. Then I didn’t feel guilty... it was their choice, and because I was working long hours I knew I was doing my share. (Medford, OR)

My wife and I try to explain our choices in terms of allocating fixed resources. When my children ask questions like, “Why can’t WE have a boat like our neighbors?,” I answer, “We have chosen to buy a nice house, good clothes, toys for you, and to save money for emergencies rather than spending our money on a boat.” The kids don’t like the answer, but it instills the sense of choice-making when it comes to money management. (Sacramento, CA)

As teenagers, my children thought little about the cost of anything if someone else paid for it. Their father bought them a case of the top brand of baseballs. When a ball ended up in the woods, they would not bother to retrieve it. When no balls were left, however, they expected a replacement, which was not forthcoming. They pooled their money to buy a new ball, and I can assure you that it was treated like gold. The same held true for cars, stereos, etc. When their earnings were used to buy things, waste and damage decreased considerably. (Yonkers, NY)

Our youngest daughter, who is now 11, gets an allowance and has envelopes for church, saving, clothes, fun and miscellaneous. She also loves to fill out checks for us. It teaches her how to handle a checkbook and also improves her math skills. (Buffalo, MO)

I started a bank account for each of our children when they were infants. I let them make deposits (some were for 50 cents) and showed them the vault so they would know their money was very safe. We also gave our children a very modest allowance at about five years of age, mainly so they would understand money and value. (Eastham, MA)

From the time I was 13 years old I had some type of odd job earning my own money. I found out early in life that when you work for your money you value it that much more and also spend much more wisely. (Columbus, TX)