When I became a mom at 20, I was still a kid myself. I was still learning the ins and outs of being an adult and how to manage money. It’s hard enough learning how to handle finances when you're an adult sans kids, but add a child into the mix and things just get harder.

There are two very important things my husband and I want to help our kids learn:

1) How to handle finances and make a budget

2) How to make a bucket list

Yes, these two seem to be on opposite ends of the spectrum, but to make the latter happen you have to have the former down. There were so many things I hoped to do in my life—and still plan to—that got pushed back a bit. I want my kids to know the importance of making their life plans and dreams come true, hence the bucket list.

Whether they want to skydive, travel the world or simply build the home of their dreams, I want to make sure they have the tools to make their bucket lists a reality. The first step is helping them learn how to work with a budget and make wise financial decisions.

I was a single mom when I had my first child (until I met and married my wonderful husband, who adopted him), so for several years it was up to me to take care of everything. I made the money and I paid the bills, and throughout those years I knew I had to model for my son (and then my other son and daughter) how to make financial decisions and work with a budget. What he (and then they) saw me do, he would do.

Had I known the impact my budgeting would play in my kids life, I might have paid more attention to that home ec class in high school. Thankfully, I was still able to learn what a budget was, how to live on one and how to have a little extra so I could attend to my bucket list items. I often make a point to sit down with my kids and discuss budgeting, whether it's showing them how to balance a checkbook, plan for life insurance expenses or simply find ways to cut costs to have “fun money” for the family.

Using a budget calculator, like the one above from Genworth Financial, can help remove the guess work and make things easier for my kids to understand. There are so many lessons I hope to instill in them, first and foremost to aim for their dreams and live out their bucket lists. But to make that happen, they'll have to make wise financial decisions. That's where Mom come in. If I don’t take the time to teach them things they'll need to know as they go out on their own, who will?

Toni Patton is a 30-something work-at-home mom living on the Florida Gulf Coast. A lover of family time, sweet tea and shopping, she shares her kids latest antics and products she loves on A Daily Dose of Toni, highlights the best in travel on Two Traveling Moms and showcases everything entertainment on Red Carpet Mama.