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You have to teach children about money intentionally - create teachable moments.

You know for years, I've heard financial experts stress the importance of teaching your kids about money, but it wasn't until I saw my own son's perspective change that I became a true believer.

What is important for kids to learn is that no matter how much money they have, earn, win, or inherit, they need to know how to spend it, how to save it, and how to give it to others in need. This is what handling money is about, and this is why we give kids an allowance.

Now more than ever is the time to really work on learning a money management system that can work, no matter how low things seem right now.

The education system should teach us about money; it's an incredibly big subject. I run into people all the time that don't have the first clue of what they should do about money.

It is critical that kids start to learn the value of money, short-term and long-term saving and budgeting at an early age.

I wasn't really taught about the value of money. I just learnt it as I grew up, but I do remember my dad telling me that it was important to always have some savings, and that stuck with me. I've always believed that putting money aside is a good thing.

Especially for fostering creative, conceptual work, the best way to use money as a motivator is to take the issue of money off the table so people concentrate on the work.

My mother had a master's degree and had been a schoolteacher before she started having kids at 30. But my father's family were landowners, farmer-merchants. Moneymaking was extremely important, like one of those semi-rapacious families in Lillian Hellman, where they know the price of everything and the value of nothing.