There are a plethora of websites out there dedicated to teaching kids about the value of money and how to budget.  During a quick internet search, I found several recommendations that children as young as 3 can start to grasp an understanding of money.  This article in the Shreveport Times includes sage advice and opinions from local experts and talks about different approaches such as giving money for good grades or doing chores. 

The Shreveport Times brings us some very practical thoughts from several regional experts including a financial institution executive, a family therapist and a local mom.  One credit union youth services coordinator suggests that kids who work outside their home should be taught to save as much as 50% of their earnings.  Special cautions are mentioned regarding credit cards, since high school students are being offered credit these days.  Kids should understand how credit works, and most importantly, the cost of credit, prior to living away from home for college.