Realizing that you can't have everything teaches the difference between needs and desires, as well as the importance of budgeting and valuing what you have. Being frugal without feeling deprived is a crucial life skill for navigating life's challenges. Teaching children the value of money and distinguishing between needs and frivolous wants is essential. Like with military tactics, managing money effectively often means staying composed and making rational decisions amidst chaos.
I wrote letters to both of my kids the day before they were born.
Here's what I wanted them to know about money.
And even if you don't have, or want, kids, I think you'll find this helpful.