It is very important to teach our children the habit of saving and spending wisely. Children learn most of what they know about money from their parents, so teaching them about it would lead to good financial habits which they could carry for the rest of their lives.
By teaching them financial education early, they will learn how to be responsible in handling money. They would come to learn that we parents don't have unlimited amount of money and that we are working hard for it. We should carefully explain where money comes from and how much things really cost.