[gms7777]

I think the key part of your comment is that kids learn by what they see their parents doing. All the tricks and schemes of trying to teach your kids the value of money will likely be useless if you, as a parent, don't have good money management skills yourself.

[drharris]

I think that holds pretty true for many things in life (i.e. the "teen pregnancy" gene), but definitely for money management. I also knew decently smart kids that didn't have a lot that now as adults go out and waste money at casinos and sports betting. They were a lot like us growing up, but their parents would spend anything extra on the lotto. So it definitely seems it has more to do with things we observe as children rather than actual income, education, and even learning from bad examples.