10 Money Lessons to Teach Your Kids Before They Turn 10 Want your child to be money-savvy like Warren Buffet? These tips will help your kid learn how to save and manage money. Has your child ever asked: "Just go to the bank and they'll give you money," after you told him you couldn't buy a toy he wanted? It’s time to explain where money comes from. After all, "it's up to parents to teach their kids smart financial habits," says Jayne Pearl, coauthor of Kids, Wealth, and Consequences.