Thanks for sharing many good ideas.
Below is my outline form of the financial education that I think a child should receive, and then I want the child to make the decisions.
High School Financial Education:
Share Rental finances; Learn repair skills, screen tenants, review applications, know mortgage rates, cash-flow, manage “emergency” repairs, learn professional communication, budget for big-ticket repairs.
Create first business: Hourly job, babysit, Lawn mowing, computer work, tutor….
Share economics of running house.
Learn Craigslist/Garage sale and buying for 10 cents on the dollar.
Learn economics of car ownership. Pay for ownership with own money.
Pay for own cell phone.
Post High school:
Have child create “dream” life.
Consider preferred living location, job hours/company/vacation, family.
Chose college and career path to support this.
“Give” child a rental house. They can live in it and manage roommates, and go to state school. Sell it and go to private school. Or live in it and pursue whatever. (This “give” is based on management approval. The deed stays in my name. The child has to sell “business plan” that the idea has merit and gets support of investors/parents)
Having watched twenty-somethings burn through a trust fund while living beyond their means (think reverse-ere), I would not put a significant trust fund in a child’s name. Transferring $13k tax-free gift per year to a child is plenty.