One of my sisters was the baby for 10 years and the other is 15 and the baby... both of them spend money as soon as they get it. I tried to get one of them to watch her money because she make a lot doing hair but she spends most on clothing and forgets to pay her car, bills, college loan, and rent.
Studies done on family order says... first borns are great at their careers, middles tend to be quiet, and youngest tends to be spontanius (?spelling) and quick to spend on silly things.
But teaching all your kids while they are young about money, paying bills, and saving for something special will help them in adulthood. I learned by watching my silly mother. She spent her paycheck on the way home from the bank. We moved a lot, starved while she ate out, and now she lives in a camper in the middle of nowhere because she hasn't worked in 10 years and is to young for SS or her 10,000 a year military retirement.
At 5 my kid start to get chores and small amounts of money (.25 a day), they will learn to save the quaters for whatever. As they get older and get more chores they get more money. When they are teens they get the financial lectures and also the sex talk... example... give them a fake job with income. Give them a family (spouse and kid or two). Have them find a place to live, in the newspaper. They have to go to the stores and price furniture they need or feel they need (the stores make them focus and work harder then the internet). A car, college loans, or whatever you can think of. Make up surprise bills like "congrats you have a new baby". Make it seem real and even include them in your own income and bills. I already have a list of things for when my kids have to do this.
My IL's did this for my hubby when he was young and he counts every penny. We have no debt. We have credit cards but they are used just because we felt like it and then they are paid off right away.
