The compounding effects of this learning gap can't be overstated. One of my best friends who is very intelligent and successful came from a working class famil

The compounding effects of this learning gap can't be overstated. One of my best friends who is very intelligent and successful came from a working class family that didn't emphasize sound personal finance education to say the least. He kept his savings in HS in his "sock in a drawer" account. I came from an upper middle class family that was the opposite. I was given a share or two of stocks for birthday gifts sometimes (often at my request instead of toys) when I was young to educate me on their value and was taught from a very young age to invest, save in a bank, build credit, and live below my means. While my friend is doing well financially, you can perhaps guess at how much of his money is invested vs mine. This story plays out in numerous other ways that also can lead to compounding effects with things like education, health, criminal activity, etc. These things are picked up on by children from all parts of the family. If your family generally has their act together, knows how to be smart with money, etc. there's probably a good chance of that rubbing off on kids which sets them down a certain path in life that might be very different otherwise.