It is really important to teach children the value of money. It can ruin their lives if they don't learn how to take care of money. I know a family who lost their house after living there over 20 yrs. when the husband lost his job and couldn't find another one because of his age and other factors. They already had a second mortgage and owed incredible amounts of money. The sad thing was that he had made enough for them to live on without being in debt like that. They seemed to just fritter money away. Even after he lost his job they didn't cut back on living expenses. They just didn't get it. They didn't seem to realize that all the little expenses (and big ones) add up. It was mindblowing. She continued to have her hair done and professionally colored. They continued to eat carry out every night. They even continued to smoke 40 dollar a carton cigarettes. They continued to buy name brand expensive products. It just didn't seem to occur to them that they could get by without these things. They thought they were necessities. They just kept on spending until the money was gone without even trying to pull themselves out of it. It seemed unbelievable to me, but it was true. Americans are so spoiled that they don't even know sometimes when something is not a necessity.