There’s a school of thought, made popular by Whitney Houston, that children are our future, that if you teach them well they’ll lead the way — fiscally, that is.

So with just 16 percent of workers confident about having enough stashed away for retirement, according to the March annual report by the Employee Benefit Research Institute, what are the money lessons we should be imparting to our youth? How do we instill sound financial responsibility?

In support of Teach Children to Save Day, which was Tuesday, here is a list of what financial-planning parents recommend and practice for different stages of kids’ lives:

Preschool and earlier

Laura Levine, of the JumpStart Coalition, says this is an important time to emphasize good personal finance. “This is when they’re learning — we’re teaching them to establish good habits, things like brushing their teeth,” she says. “An awful lot of their values are starting to form at this age.” Topics to tackle include delayed gratification, the value of money, setting goals and being frugal.

Elementary school

This is the time to explain what things cost, according to Garrett Jay, founder of Money Lessons for Life, which runs programs that promote financial literacy primarily for school-age children. Jay recommends including kids on your financial decisions, such as when you pay your bills.

“So many times parents think of (money) as a dirty word,” he says. “Like I don’t want to talk about sex. I don’t want to talk about money.” The key is to know how much to include your kids. You probably don’t want your 5-year-old proclaiming, “My daddy makes more than yours,” but you want them to understand your decisions, the value of money and what it’s like to live on a budget, he adds.

You might also want to consider helping your kids open their first bank accounts. Pat Seaman, spokeswoman for National Endowment for Financial Education, opened accounts for her daughters when they were 6 and 8. While there’s no rule of thumb on the right time to open that first checking account, Seaman says it’s best “when they’re old enough to appreciate this tangible experience of going to a bank, sitting at a desk in front of a bank officer, filling out that paperwork.”

The account teaches them to save regularly and understand the concept of interest accrual. Try to avoid the convenience of online banking, though. “When you handle money, it’s more visceral, it’s more real to you … Don’t allow children to lose that connection to money. It will set them up for better saving habits in the future,” Seaman says.

Middle school

Citing school drop-out rates, Levine says middle school is a crucial time to impart personal finance tips they might miss if they don’t attend high school. Above all, the lesson parents and teachers should stress is how limited education can impact lifetime earning potential.

In addition, by this age, your family might have an allowance structure. It’s important for your kids to work for their money by fulfilling tasks, such as chores.

“One of the best ways parents can help their kids, not just automatically give them money, is really talk to them, make them feel and act like consumers. That’s how you’re going to live your life,” says Chris Rhim, president of Green View Advisors.

High school

This might be the time to teach your child the concept of how to borrow and pay back money. If your child wants money for a car, for instance, Jay recommends drawing up a short loan agreement, such as: “We, Mom and Dad, are loaning X amount of dollars for the purpose of Y. This is the payment plan.” When his 18-year-old daughter couldn’t afford to pay for her senior prom, Bruce Young, of Financial Finesse drew up a contract, which included interest, when payments would be made and any penalties.