Looking after your family's financial health means sticking to a budget and saving for special occasions—but also planning for emergencies and thinking about the future.
Raising kids isn't cheap! Set yourself up to succeed: contribute to an RRSP (and your spouse's!) to reduce your income tax, or save for your kids' education with an RESP to grow your savings by 20% to 40% thanks to government subsidies. For your short-term plans, contribute to a TFSA and earn tax-free interest.
If you want your children to learn good financial habits, you need to teach them the value of money while they're young. Give them an allowance so they can manage their money and open a bank account so they can learn how to save.