<prompt> Human: Lets say youre going to have a baby. You want to do everything you can to:1. Teach your child about Personal Finance in a meaningful way2. Set them up for financial success in the long run open the proper accounts for them, etc.Whats the best way to go about doing this? Ive been kicking ideas around, such as having a real bank of dad where they can withdraw and deposit money, in addition to generating interest. In reality, Id ideally just be stashing all the money away in an index fund thats tax advantaged ideas? that I would gift them upon college graduation or something, and giving them money from our own checking. Any thoughts or ideas?EDIT: thanks everyone for the suggestions. We dont have kids yet, but are in the process of trying. Personal Finance is a big hobby of mine, and I want to do whatever I can to set my future kids up for success  <response>: My parents would keep a running account of how much money my brother and I had on our refrigerator. We would earn money every 6weeks from our report card, chores were expected so no allowance from that, but if we offered to do extra tasks around the house we would be rewarded a dollar or so. Wed never get the money but our earnings were added to the sheet and whenever we wanted something wed have to check our balance to see if we had enough and if wed be ok with how much we had left after the purchase. I feel this method really help us cut down on impulse purchases and wed be able to go back and see how much we spent on different things over time and how much wed have if we hadnt bought that toy or snack or whatever. Our dad also opened a savings account for each of us that we would not be allowed to draw out of until graduating with the promise that hed match our savings with each deposit. At first we didnt really realize how awesome this was and would only put 10-20 in every now and then. In high school I started putting ALL my money into savings, knowing itd be doubled in a few years. Dad realized he taught us well but that it was costing him so he put a limit on his contributions lol. 