Teaching kids to budget is like teaching them how to ride a bike. You could be as involved as you’d like, or you could let them learn on their own. One way or another, your kids will create their own financial habits just like they could learn to ride a bike eventually.

The thing is, just because they know how to ride doesn’t necessarily mean they’re good riders. There are foundations to be set, healthy systems to create, and bad habits to avoid for riding a bike, just as there are for budgeting and money management.