As a parent you stand the chance to set your child on the right path financially by showing; them how to use money wisely. This calls for you to become their role ‘model because they observe you being financially responsible and see the positive impact it brings to your family’s lifestyle. This way you build a positive influence on their money habits for years to come. It is important to teach your child about money through practical ways that put them on the driver's seat in terms of prudent financial management.