Teaching children about money management can be effectively integrated into daily life through simple, practical methods. Parents can start by using grocery shopping as a lesson in budgeting and decision-making, helping children understand the value of their choices. Distinguishing between 'wants' and 'needs' is crucial; parents can illustrate this during shopping trips by categorizing essential items like milk and vegetables as needs, while snacks and toys are classified as wants. Additionally, giving children pocket money allows them to experience the consequences of their spending choices, fostering responsibility. Engaging children in age-appropriate family budgeting discussions can also impart essential skills, showing them that financial management requires effort. Lastly, parents should model healthy financial behaviors, as children learn by observing. By living these lessons, parents can raise financially savvy and responsible adults.