Creating a positive legacy for your heirs isn't just about leaving behind a big inheritance (though that would be nice). It's also about teaching your children how to be financially responsible youngsters, with the hope that they will one day become financially savvy adults.

As a Money Coach and mother of three young children, I'm always looking for creative, fun ways to teach kids about finances. Unfortunately, some adults view money issues as overly complex, boring, or even taboo topics. Those attitudes toward money are easily transmitted to kids – overtly or subtly. To help children develop a healthy perspective about money, and avoid the money mistakes we've all made, try some of the following strategies.

For Toddlers 2 to 5 Years Old: Sing Along With Mommy (or Daddy)

When my youngest daughter was two and she began waking up each morning asking: "Watch Barney?," my husband and I initially regretted our decision to buy those Barney DVDs. My older two kids, after all, weren't allowed to watch cartoons – or any television at all – until after they turned two years old. (Like most parents with several children, I suppose I've become more permissive over the years).

But instead of banning Barney, I decided to learn why my little one was so enthralled by this big, purple dinosaur. When I started watching the show with her (something I previously couldn't bring myself to do, leaving that task instead as a "Daddy duty" for my husband), I found that she was most excited about the music featured in the program. Not just Barney's "I Love You" theme song. My daughter was actually learning a host of good values – about manners, sharing, healthy eating, exercise and so on – all through songs. So why not, I thought, teach her about money with a song? That's when I realized that some of her favorite songs and games already related to numbers, counting and yes, even money.

Among them:

• "One Two Three Four Five ... Once I caught a Fish Alive"
• "Five Little Monkeys Jumping on the Bed"
• "The Ants Go Marching One-By-One"
• "One, Two, Buckle My Shoe"
• "Bought Me a Cat"


Now I make up money-related and counting songs – the sillier the better. A "Sing Along" with props – anything from stickers to cookies to stuffed animals – helps tangibly illustrate concepts. I figure whatever conveys a healthy outlook about money, promotes delayed gratification, or teaches that money and other rewards are earned, are good starting points. But make no mistake: my little one, who is now four years old, is also aware of an abstract concept: that money has value. For example, if I give her a bill, she will say smile and say "Thank you for this dollar" and immediately put it in her pocket. Who knows how my youngest child will handle finances in the future? For now, though, I like to think that my daughter is a budding saver.

By the way, if you think it's way too early to start introducing money concepts at this age, think again. Toddlers are remarkably astute and eager to learn. They're making sense of the world around them, and the fact is: money is a part of that world.

+ Read Part II of 'Creative, Fun Ways to Teach Your Kids About Money'!

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Lynnette Khalfani-Cox, an award-winning financial news journalist and former Wall Street Journal reporter for CNBC, has also been featured in top newspapers including the Washington Post, USA Today, and the New York Times, as well as magazines ranging from Essence and Redbook to Black Enterprise and Smart Money. Check out her New York Times bestseller, 'Zero Debt: The Ultimate Guide to Financial Freedom.'