For example, their fall clothing budget might include shoes, but no backpack or a jacket. Exposing your children to your planning process can help them start building one of their own."Further, give your child the option to save any unused portion of the budget to see if you can jump-start a desire to save money in your child," says Kay. Additionally, Ulzheimer recommends adding your teen as an authorized user on your credit card (instead of co-signing for their own account) to help them learn responsible credit habits. "It's like a credit card with training wheels," says Ulzheimer. "If they make mistakes using a credit card on your account, you will catch it before any serious debt racks up and correct the behavior immediately." Ulzheimer says this can help you stay engaged in the learning process, help build credit in their name and monitor progress as they mature.