Children can teach us valuable money lessons. What is the most memorable one you received from a child?

“You’re only young once, but you can be immature forever.” No, my bad. That was my 40-something-year-old mates.

My DebtKids have reinforced in me the lesson of “learned behaviour”. We learn from watching our idols. At my kids’ ages, their idols are us.

That, to me, is what makes parenting terrifying. Your tin lids watch everything you do. The good, the ordinary and the cringeworthy. You can learn a lot about yourself from watching your kids.

Until kids hit a certain age, they don’t have filters on their speech. And it’s funny … when they’re talking about other people. When it’s you, the honesty can be brutal.

But the best money lessons are that, absolutely, the best things in life are free, and there’s nothing more valuable that the thing you can’t buy – time.

Tickling your kids until they are cherry red and can barely breathe doesn’t cost a cent. But they will ask that you do it again. Second time, still free.

Staying up a bit late to watch Friday night footy at the end of a long week, for them and for you, in front of a fire. Kicking a ball with the boy in the backyard. Your little girl reaching out for your hand as you walk to school.

Hearing the words, “I love you daddy”.

There is so much crap that you can buy them. But instead of handing over cash, hand over your time. Your time is far more valuable. And they’d prefer it.

Now, for me to actually model that behaviour well enough for them to learn it.

Bruce Brammall is the author of Debt Man Walking (www.debtman.com.au) and principal adviser with Castellan Financial Consulting.