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I’m in a similar situation and salary. I teach my children the value of every single cent they get. And I also have honest and age appropriate conversations about the importance of earning what we get and respecting everyone for what they have.
There’s always going to be an element of privilege that I’m not going to be able to eliminate. But the biggest compliment I continue to receive is that my children are respectful, appreciative, and humble when they are in situations where I’m not present.
Teach them how to be resilient and persistent. Don't hand them things just because you can. Keep high standards but tell them they have resources to help them get there.
I agree with all of the advice above and I use it, plus I use YNAB for our budget and the tool allows me to setup as many budgets as I want - so I created budgets for each kid and whenever they get money (working, allowance, chores, gifts, etc.) we sit down and budget that money together. It is helping them understand how far money can go and how to save for items they really want.
Make them work for their earnings (when age appropriate of course) don't just give them hand outs.
Make them work for money. At a young age, this can be as simple as age appropriate chores for an allowance.
To teach them about saving, create some sort of match for them.
Also please don’t over-do the fiscal discipline bit either. We will never be good as parents if we *only* model our upbringing.
Agree with the above. For us we try teach our daughter that money is split between save / invest, spend, and donate and to be consistent in those buckets and why. Showing her a cookie gets 7-11% bigger if she invests certain doesn’t hurt vs. the cookie that disappears if you just eat it 😂. Beyond that we typically don’t talk about how much we make. Instead my wife and I model similar behavior and don’t spend on things we don’t need and include our daughter in big decisions (within reason)