First up among those lessons is delayed gratification - learning that even "spending money" does not have to be spent all at once, or straight away.
Studies have shown that children who are able to put things off for a greater reward later tend to be more successful in many areas of adult life.
Now my kids are still in the process of understanding this, so I'm introducing "double or nothing days" throughout the holidays this year, with the goal that they'll make savvier decisions with money. What I like about is it that they decide, and they can see the results right away.
The second important lesson is opportunity cost, or how spending on something today always involves some sort of trade-off with tomorrow, a future good. And because of the effects of compound interest over time, where money snowballs due to interest earning interest, that future opportunity is typically a worthwhile amount.
Studies have shown that children who are able to put things off for a greater reward later tend to be more successful in many areas of adult life.
And isn't this what investing is all about?
The point in not spending now is not frugality per se, but rather to take advantage of the potential we have to grow financially over time.
After all, we need a surplus in our budgets so we can save or invest and get to a better position.
Speaking of doubling your money, there's that odd "rule of 72" to figure out how quickly you can double yours. You divide 72 by the rate of return on your investment - so at 6 per cent you see it will take 12 years to double your money.
At that rate, $10,000 will become $20,000, and then in another 12 it will reach $40,000. If you earn a 12 per cent return instead, your money will double every six years.
Which makes all of this especially worthwhile for those who have a lot of time ahead of them, especially the kids. But you may have to introduce a "triple or nothing" day the first time around just to get their attention.
Get Sorted is written by Sorted's resident blogger, Tom Hartmann. Check out the guides and tools from Sorted – brought to you by the Commission for Financial Capability –
at sorted.org.nz.