The ability to comprehend finances and the varied use of skills pertaining to it, like managing bills, saving for the future, investments, budgeting, is known as financial literacy. Good habits take time to grow and one can not be an expert in this field overnight. Children are most tech-savvy of the lot and yet, their pocket money is always in cash Imparting financial education in them, right from the start, can save them a lot of time and bad decisions in the long term.