Easy Ways to Teach Kids About Money at Home

Instead of granting your child a certain amount of money every week and month as a matter of course, establish certain tasks that must be completed in order to earn that money.  This can include doing certain chores, helping out around the house, doing homework, or anything else within reason.  I do not recommend, however, rewarding a child with money for good behavior (e.g. not having a tantrum).  This would just lead to blackmail with bad behavior.  Scary.
The point of this exercise is to teach children that money is earned and not given, and that honest, hard work yields rewards.

Also, instead of just giving your child a certain amount of money every week for fun incidentals, consider giving him or her a larger stipend that includes money for transportation, movies, dinners out, vacation souvenirs, gas, clothing, and the like.  If your kid decides to spend spend his or her money on frivolous things, he/she’ll have to go without other benefits.  This will teach your child to budget and consider the value of money very quickly.  This will furthermore spare you the trouble of being asked to purchase certain things here or there (the answer always being “Well, if it’s that important to you, you can save your allowance and buy it”).
A larger stipend will also encourage your child to start thinking for the future and to learn about delayed gratification.  Once a child sees that skipping out on a small indulgence in the short term can lead to enjoying a greater indulgence in the long term, he or she will be more likely to engage in other behavior associated with long-term saving, such as studying for exams, eating well and exercising, and, in the long run, saving for college, cars, homes, and retirement.

When your child asks for a large purchase, or wants something that you’re willing to get for him or her, be it some cool sports equipment or even a car, consider splitting the cost between the two of you.  Asking a kid to contribute 50% toward a purchase is yet another way to impart the value of various purchases, and dissuade children from taking things for granted.  
Sharing the cost on large purchases may also make your son or daughter think twice about certain things that seem like a necessity at the time.  Cost, perceived value, and perceived necessity become very different when one has to pay for it!

One of the smartest things I’ve ever seen an elementary school math teacher do was combine shopping with addition and subtraction lessons.  
Right around Christmas season, save all of the toy store adverts from the newspaper and in the mail.  Give them to your child and tell them that they have a pretend $100 budget, and have to select the toys they would get with that money.  
This is a great way to introduce young children to budgeting, as well as sharpen their basic math skills - it’ll also keep them occupied for hours and give you good ideas for holiday or birthday gifts!

When your children get older, consider getting them involved with family budgeting.  By being open with them about finances, you can teach them about the realities of cash flow (how, for example, a great chunk of money has to go toward covering food and bills).
You can choose how much you discuss.  You can, for example, only discuss the monthly food budget with them, or help your children help you save and plan for a vacation.  This may help them appreciate the event more, and it’ll also help the entire family get excited about upcoming outings and treats.

Instead of simply squirreling away savings for your children, get them involved in their college savings.  Encourage them to contribute to their college fund - or even set up a matching plan, whereby you put 5 dollars into savings for every 1 dollar they contribute.   
This will give your son or daughter greater ownership of their college education, and may make them less likely to take it for granted.  When one is paying for one’s own education after all, one is more likely to take it seriously!