In hopes of teaching our children financial responsibility, I've set some simple goals for them to learn. Recently, I took our teenager to set up a new bank account since we closed his old savings account. I was surprised to learn that he was eligible for a highschool checking account, which includes an ATM card.
Now for some, this may sound premature, however our son has demonstrated great financial responsibility. Therefore, I have no reservation about him starting to manage his finances in a bank account.
Last year, when he turned a teenager, we gave him his own personal safe and a few pieces of silver. Now, he's ready to maintain his accounts and check online banking. It was so special to see the banker take time and show him how to use the bank register. She took extra time to even show him how to reconcile his account. Now this was definately a lasting impression for him. I could have done this at some point, but to have a personal banker patiently explain and demonstrate this task was pretty impactive.
For those with growing children, consider simple ways you can prepare them for their future. Each family & each child is different, so I will not try to present many examples here, but I can share ways our family is preparing. I hope this may inspire you to ponder and implement some ideas. For example, I've previously blogged about hope chests for girls, and now I've been asked by my daughter about planning a Bat Mitzvah ( http://www.jewfaq.org/barmitz.htm ) I'm not 100% sure if we will do this practice, yet it is important that we redeem this time to plan for their future.
May Abba Yah lead and direct you in the adventure of parenting.