You are absolutely correct . In a big picture way , my guiding points are as follows 1 . Until he gets a job , I include him in how I run budgets , save , and let him see my quarterly investment updates so he see ' s them grow . It ' s still all abstract because , he doesn ' t have his own money yet outside of monthly allowances and whatnot . 2 . Once he gets a job , the 1015 % of every check goes into savings route . TFSA or similar . 3 . Alternatively , have him pay bills , or pay a rent fee , which goes secretly into savings . He is presented that money at graduation of collegeuniversity . 4 . Help him build his budgets with his first job , and provide tipsinstructions on how to maintain it . 5 . Discourage impulse buying with negative reinforcements .