Once I started full time at Mayo Clinic my dad advised me to start investing for my retirement while I was young. That way I would have funds built up and wouldn't have to work until I was 70 or older. Maybe I would be able to retire a little earlier than people my age. Currently I am on track to do that and retire at the age of 60. Now will I do that, it all depends at where I'm at in life but it is great knowing that I have that capability and not be stressed about it.

Another single parent friend told me about the 4 Gifts of Christmas (something to wear, something to read, something you want and something you need). I have found this has been really helpful to focus my gift giving to my kiddo in a really meaningful way.

Both of my children have regular savings accounts and Edvest accounts, Wisconsin's college savings plan. One also has a Utah 529 plan. They receive paper statements and open the envelopes to review the balance and any gains/losses. We talk about what the numbers mean. For birthdays and holidays, my in-laws give a small gift and then write a check that is intended for their education fund. The kids sign the check just like adults and deposit it in their accounts. We also have very open discussions in our house about planning for vacations, retirement, paying bills, etc. Our kids do not know our income, but they can see how we make decisions.

I would love to hear what other people do too. How do others help their children realize the value of the dollar?