One of the greatest values you can instill in your children is teaching them the importance of saving for a rainy day. With the collapse of the housing market and the incredibly high rate of unemployment, many adults, both young and old, found that they hadn't tucked away enough money to fall back on when times got tough. Of course, no parent wants to see their child endure financial hardships, especially when they're in no position to bail him or her out. What you can do is help your child plan for the future by teaching your kids to save. Assisting your children in becoming financially savvy is the gift that will keep on giving. The first step is to teach your kids the value of money. See a penny... pick it up. The bottom line is that every cent counts. The next step is to set up a chore chart. Break it down so that each duty receives a certain pay - just like a real job.