Why is teaching money managment skills important?

This is why:

College students and credit cards

I don't think I really need to say too much beyond what is in the article, but for those who did not click the link, here is the hidden message - As much as the government attempts to protect us from ourselves (a topic of much debate that I will not address here!), the most effective tool for managing this issue is personal responsibility.

If we want our kids to handle this stuff well, we need to lead by example first and foremost, and also actively teach these skills over their entire lifetime.  Start early, finish strong!