One of the best ideas I ever heard to teach money management is that when the kid is old enough to understand how to budget, give them a big enough allowance and tell them it's their money for fun and clothes. If they spend it all on fun, they can't buy new clothes. Also teach them that x% has to go to savings and another x% to charity.

>Uh, no - when she's a teen she'll be doing odd jobs to make money, just the same way I did. Worst thing you can do for a kid is not instill a work ethic.