One of the best things my mother did for me early on (and there were many) was to open up a bank account for me. If you help your kids understand money at a young age, they will have a better chance becoming comfortable with it.
When I was young, banks actually gave you a little book that showed you how much money you had in savings. Each time you went to the bank, they added on any interest you earned. And I learned that the interest also earned interest. It was exciting to watch the numbers grow!
Even today, when I check my accounts, the magic of compounded interest still makes me smile. Kids of any age love magic — and it helps when you truly appreciate the power of interest earning interest. Just one of many things children can learn about money at an early age!