We hear a lot about financial literacy these days as Ottawa promotes its efforts to educate Canadians about money management, saving and investing.  Clearly, the first steps begin with our kids, and not just in the classroom. Parents, grandparents, and other caregivers can provide some of the building blocks to economic maturity by sharing their own experiences with money.  Here are 3 ways you can help them understand basic financial concepts. Let them manage their own income.  It’s important for your kids to have their own money to manage – and mismanage.  They will learn a lesson (albeit painful sometimes) when they spend their entire allowance on an impulse purchase. Help them set goals and allocate their money.  Set goals for donating, savings and spending and give them separate piggybanks to allocate the chosen portion of the money they earn. Show them the power of compound growth.  Open a savings account, GIC or other ...