Learning Financial Responsibility with Elmo!

You have to be savvy with your money to pull of living in one of the most expensive cities in the world: San Francisco.

Sesame Street Friends talk about Saving, Sharing (donating) and Spending.

Watch the full episode. See more PBS NewsHour.

Starting early with these concepts helps prepare them for the future and instills the famous concept "Money Doesn't Grow on Tree."

In addition, you can help introduce the concept of work, earnings and responsibility by compensating your children for housework, exceptional performance in school or participating in events like Lemonade Day, bake sales, etc.

A few great ways to start... a REAL ATM for depositing and withdrawing money (LCD screen that works!); a Piggy Bank with sections for saving, investing, spending and donating; or for first-timers a Melissa & Doug Piggy Bank to decorate on your own!