10 Commandments of Personal Finance, Commandment #8: Thou Shalt Teach Your Children to Handle Money Wisely

Bankrate offers a list of the 10 commandments of personal finance that I'll be sharing with all of you as well as providing my thoughts on their selections. The commandment for today:

VIII. Thou shalt teach your children to handle money wisely

"However," Sweeney says "if you're not handling money wisely, it's hard to teach your children to do so. You have to set a good example."

Ha!

It's sad, but true -- you can't teach your kids something that you don't know! Get your finances in order first, then pass your good habits on to the next generation.

For related thoughts on this topic from Free Money Finance, see these posts:

• Teach Your Kids How to Handle Money

• Checklist: What Your Child Should Know About Money Before Moving Out

• We Need to Teach Our Kids the Basics of Personal Finance

Click here to read part 9 of this series.

Click here to read part 1 of this series.