Low interest credit cards, exploring the topic
The best way to teach your children financial responsibility is to lead by example. If you regularly purchase things you cannot afford and continue to carry large balances on your credit cards, those practices will be modeled by your children. Likewise, if you pay your bills on time and take time to work on your budget, your kids will be more likely to mirror those practices. In the interest of teaching your children responsible habits, do not shelter them from financial discussions in your household. Let them listen to you and your spouse or partner come up with a game plan to save for a vacation or a new car, for example.