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Step 1
Begin talking to your daughter about money when she is 3 or 4 years old. At this age, children understand that money buys things they want, and they can begin to grasp the idea that saving money can help them make purchases later on.
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Step 2
Give your daughter an allowance and make certain she understands that she needs to budget it wisely. This will teach her individual responsibility and allow her to recognize the basic concepts of money management.
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Step 3
Inform your daughter that by saving money, she will make money. You might consider matching anything your daughter sets aside from her weekly allowance and puts toward long-term savings for college, a car or some other large expense.
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Step 4
Show your daughter the bills for groceries, cell phones and utilities so she understands the value of the money her parents earn. This lesson will come in handy when she begins working and realizes how much of her paycheck would go toward household bills if she was the one responsible for them.
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Step 5
Involve your daughter in planning a family vacation budget so she understands the idea that adults save money so they can afford large expenses.
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Step 6
Talk to your daughter regularly about family finances so you can answer any of her questions, clear up confusion and reinforce matters of financial responsibility.
