You kids are learning from you even when you’re not teaching. Just taking a look at your own financial habits and getting on track will go a long way to teaching by example.
Growing up I listened to my mother complain about not having enough money at the end of the month for things that she wanted after paying bills. Paying yourself first allows you to be able to adjust your bills.
My mother like many other people has opened many credit accounts because it allows them more spending power not knowing how irresponsible they come off to other creditors for having too many accounts.
Every day I try to talk my mother into creating a budget so she can see where her money is going and where it doesn’t need to go, so she can see that we don’t need those premium channels either.
Retirement is best planned for while you’re young, you’ll have more time to accumulate money to be able to live the way you want when you’re 65 but it’s better late than never.