Whether it's teaching them the value of a dollar or helping their future financial independence, many parents strive to teach their children how to make sound financial decisions. \nAnd it's never too late or too early to introduce positive spending, saving and borrowing habits that can help ensure a lifetime of financial confidence. \nGET STARTED EARLY \nYour involvement is key to starting your child on the right path to financial literacy. As early as age six, children can understand the basic principles of saving and spending, including the value of saving first, or even saving for longer-term goals. Many experts recommend a "save-spend-share" concept. \nThis means that whenever children receive money, they put some aside for savings and charitable donations, and can spend the rest as they like. \nOpening a high-interest savings account can also help introduce bigger kids tn-budgeting, investing and borrowing. Childhood is also an ideal time to instill a lifetime desire to give back. Consider talking to your children about causes they might like to support and incorporating their ideas into how your family gives back. \nPREPARING YOUNG ADULTS TO LEAVE THE NEST\nWhether they're planning for university, moving out, or starting a new career, money plays an important role as your children start the journey of "making it on their own." \nBudgeting: Post-high school is a great opportunity to create a first "real" budget with your child. Encourage them to track spending, and list income sources and projected expenses. Adding these numbers up can help determine whether they'll run short or have a surplus. If they're running short, they might want to look hard at "wants versus needs" or ways of increasing their income. If they have a surplus, introduce the idea of contributing to a Tax-Free Savings Account or Registered Retirement Savings Plan. \nCredit: Young adults are often presented with easy access to credit. Teach them to be aware of anything that sounds too good to be true, stick to their budget and borrow only what they can afford to repay. \nGROWN-UP CHILDREN STILL HAVE PLENTY TO LEARN\nAdult children eventually enter a world where they need to balance their financial goals, such as owning a home, with basic living expenses or the costs of raising children. \nThis is an ideal time to pass on your own financial experiences, including the challenges you overcame to build wealth. Preparing children to receive their inheritance is another key element of financial education, and helps perpetuate your family legacy. \nConsider talking to them about what they will inherit and how they can manage their inheritance, or passing on assets while you are alive to allow them to benefit from your guidance. \nTHE VALUE OF ADVICE\nWhile informal family conversations and real-world learning are essential components of financial education, it can make sense to introduce your children to your financial, legal and tax advisors, who can help provide guidance that might be difficult for you to convey. \nThe important message here is to start having these conversation as early as possible and to keep in mind that there are tons of resources out there including local professional accounting bodies, such as CPA New Brunswick, that can offer all sorts of financial literacy information, advice and tools for individuals of all ages!\nMathieu's column, Your Financial Corner, will appear in each edition of Chamber Vision magazine, published by The Chamber of Commerce for Greater Moncton.