As the saying goes "Like father, like son". Your habits sometimes has influence on the habits of your children. Same goes for financial habits.

If you are like Robert Kiyosaki's Rich Dad, you will be able to pass on good financial habits to your children. Likewise, if you have bad financial habits, your children might get influence and learn the bad financial habits from you.

This blog post highlighted this point and supported the claim with a report from England on the bad credit habits of its younger generation.