For children money is mysterious and saving is an alien concept. Saving is hard for everybody; it means that I have to say NO today so I can get what I want tomorrow. It sounds crazy to them. We try to tell them that it requires courage and discipline to do it, but later when you see how much you have saved for your goal, it will feel great.
It is a constant struggle: we are always telling them to save 30% of their allowance, donate 10%, and use the rest wisely. We are always trying to encourage them to start a business: DJ, photographer, babysitter, delivery boy, cookie factory... the sky is the limit.
In the book "Too Much of a Good Thing: Raising Children of Character in an Indulgent Age" by Daniel J. Kindlon, the author talks about how hard it is for people to teach their children sobriety, temperance on an era where parents don't know how to say no to their children. There is a great story in the book about a very wealthy father who made his son pay for his own college education and after his graduation, he gave him back all the money his son had spent over those 4 years so he could start his own business.
I hope you enjoy reading this book as much as I did.