One thing that I see from children that receive much without having to work for it, is that the essence of responsibility is hard to establish. I myself was spoiled as a child, and during my first years away from home, I found it quite difficult to push myself to work for anything, as I was always given what I desired. I am not saying not to be generous; however, maybe there is a way that they could receive money, and budget in a way over a period of time, or do chores around the house and receive a monetary reward for doing so. This way, they are learning responsibility (and after either deciding to spend all their money on one item- leaving them broke, or spreading it out by spending reasonably) which will instill in them a more mature mindset when it comes to money.
