D&C 68:25 and 28 states:

And again, inasmuch as parents have children in Zion, or in any of her stakes which are organized, that teach them not to understand the doctrine of repentance, faith in Christ the Son of the living God, and of baptism and the gift of the Holy Ghost by the laying on of the hands, when eight years old, the sin be upon the heads of the parents.  And they share also teach their children to pray, and to walk uprightly before the Lord.

From this scripture we learn that parents are responsible to teach their children the basics of the gospel, and at an early age.  Even before age eight, we should teach them both gospel truths and financial truths as well.  From a gospel perspective, we should teach young children:

• To know who they are
• That they are children of God
• To pray
• To love their family and friends
• To share with and have compassion for others, and
• To be thankful for their blessings.

At the same time, from a temporal framework we should teach them:

• To set and achieve goals, and
• To learn to save for things they want.