There is no better time to teach the importance of smart saving than during a recession.  Chances are you've set up your own savings fund that you can turn to in times of need, so why not have your kids do the same? Use a jar or something that's transparent for gathering savings, says Gabe Graumann, who helps run his family's property management business and writes "Money Talk with Gabe," a topical blog about money issues. "If kids can actually see the money growing, that will help them down the road when it comes to investing part of their income." And make it clear that money in the savings jar should be used for big purchases in your kids' future, such as their first car, or to help others in need.