Teach Your Kids about Adult Bills

In the final tip about teaching your kids how to be responsible money managers, you'll learn how to give your kids a realistic view of bills. Bills are a fact of life and now is the time to teach them what their future holds when it comes to expenses.

The easiest way to do it is to open bills when they come in the mail or hit your inbox. Sit down with your child and make a list of the monthly household bills. This helps them to gain perspective on what things cost and how much they can expect to pay for things when they become adults. You can use this as a guide to teach older children how to create a budget.