Absolutely. This is why, as a parent, I'm going to teach my kids about money early, letting them make consequential mistakes as early as possible, probably starting around 2nd or 3rd grade. We'll fund the roof over their heads, the food in the fridge, very basic clothes (shoes, socks and underwear, basic shirts and pants, basic outerwear) but anything else they'll have to spend their own money on. They'll get a fixed allowance plus they'll get extra money for doing things around the house. Initially this will be in "the bank of mom and dad" with a super high interest rate (like 5-10% per month) which will hopefully help make the concept of compounding interest stick earlier. Over time we'll transition to joint bank accounts with separate debit cards.