New Delhi, Oct. 15 -- Teaching children about money starts with habits, according to author Dave Ramsey. The writer of the international bestseller The Total Money Makeover recommends four lessons for families. Children should learn to work, save, give and enjoy spending wisely.

Parents should practise these habits while guiding children through each area. Ramsey stresses balance rather than encouraging children to save, spend or give everything away.

Ramsey recommends paying children for completed tasks instead of giving them money without conditions. This helps them understand that income comes from effort.

Tasks should suit the child's age and abilities. Simple activities, such as sweeping the kitchen or carrying plates, can introdu...