In order to ensure that our kids are well-rounded growing up, we need to be sure that we start them early. If you start educating them about money and finances as early as possible, the likelihood that they will be successful is that much higher. Conversely, if you fail to educate them about finances as they are growing up they are much more likely to not appreciate the money they earn and spend it wisely.

Many of the most successful financial advisors agree that the earlier you start your kids on saving the more likely it will follow them as they grow older and start working for a living. For this article, we put together a list of the ten most important things we need to teach our kids about personal finances and money.

Top 10 financial subjects to teach your kids about financial literacy

Use a clear glass jar for saving their pennies - Piggybanks that look like a actual pig were cute years ago, but if you want to teach your kids about saving their pennies. Use a large, clear glass jar so that they can see their money growing every time they add to it.

Set a good example - Nothing teaches a kid about how to be financially responsible than being able to watch their parents do it as they are growing up. Like any other life lesson, if you set a good example, your kids will turn out much more financially responsible.

Show them the real cost of things in the store - Many parents fail their kids financially by shielding them from the nasty truth about the high cost of goods in the stores these days. Unless you show them early on in life about the real cost of buying things, you are setting them up for failure.

Refer to the money for chores as a commission (not simply an allowance) - By using the term commission when paying your kids for chores they are more likely to understand that money is earned and not just given as in an allowance.

Do not impulse buy - Most kids are guilty of impulse buying, but if you teach them early that it is better to think on a major purchase to be sure that it is a good idea. The earlier you do it the more likely they are not to continue doing it as an adult.

Be sure to discuss the reward of giving to others - As part of your lessons on financial benefits, you should always discuss with them the need to be charitable. Remember giving is just as important as giving to others.

Start them early with a bank account - As they reach their teenage years you should set them up with their own bank account so that you can teach them about how to save their money.

Use PayPal for online purchases - With Internet usage exploding every day and more and more of our young people are buying things online. Remember to teach them about the definite benefits of using Paypal as an online payment method.

Get them started early for saving for college (avoid student loans) - Higher education or trade school are things for our kids to strive for as they finish high school. The sooner you get them saving to pay for the school they want to attend the better. Having money set aside along with financial assistance will help them to avoid having to take out student loans.

Get them started on budgeting early - Last, but certainly not least, get them to understand what a budget is and why it is so very important in life. The earlier the better so they don’t pick up bad money habits.