Six things I will to teach my kids:
1. How to not whine.
So let's say this little kid was crying (maybe he's around 8-10 years old) because his mother took his iPad 2 from him and life isn't fair. So this kid is crying in public for like a couple minutes and the mother, instead of disciplining him, gives him his iPad back PLUS like 5 chocolate bars.

There was this woman with a crying toddler another day. She had been ignoring his cries for two hours. Sick of it, my uncle told this lady to hurry up and discipline this child. The woman said she had tried spanking him, but it didn't work. My uncle told her to demonstrate and her "spank" was actually more of a light pat on the baby's diaper-cushioned butt.
What is wrong with parents today? Did we get so hateful of how our parents brought us up that instead of turning our children into tough kids that can handle responsibility, they've become softies that will cry when things don't go their way. We've seen it all over the media and parents have blamed everything that can be blamed - except themselves. Sure, I'll spank my kid every once in a while, and no way I'm always going to get them the newest toy or iPhone (maybe my kid will get a Nokia 3310 in middle school or something). But people are actually going to like my kid.
2. How to mow the lawn.
I hate mowing the lawn. I'll make them do it instead.
3. How to move like Jagger.
It's important to be able to move (dance) like Jagger (i.e. Adam Levine does it pretty well) in this day and age. Kids who can't dance are subject to some social isolation, and if my kid can dance, he'll be the coolest kid ever. Like those kids in Footloose. They were pretty cool.
4. How to beat the Elite Four in Pokemon Red.
Maybe I won't teach them; that's something they have to earn on their own. But my kids will be playing classic Pokemon, and you can bet they won't be playing Farmville. Some turn-based strategy games oughtta teach my kids strategy, and strategy makes people smarter, right?
Plus, Pokemon is just an awesome game. Every kid should play it. Forget going outside, it's way too hot.
5. The value of money.

My family lives comfortably, which is kind of rare in Saipan. We know where the money will come from every two weeks, we own a nice, paid-off house, and we have like three cars in the garage. We even have enough so we can afford to go to the states every summer and even going somewhere else during the winter (and sometimes, we even have an additional trip during the spring). But we don't have everything.
I don't get an allowance. Everything I spend either comes from birthday/Christmas cash, or from working for hours at DFS. I don't have the nicest phone ever. My mom only buys clothes when they're on sale. We always get the cheaper brand of canned corn at the grocery store. The three cars in the garage are fairly old used cars (except for my mother's - that was a mid-life crisis thing). The point I'm trying to make here is that we don't spend all our money on little, unimportant things; we live frugal lives.
Yet, a lot of people here that live off of food stamps drive to the food stamp office in nicer cars. Kids who complain about not having enough cash are wearing a $100 pair of sneakers because they matched with their shirts (and they have other nice shoes for other shirts, mind you). They buy about $10 worth of snacks during recesses and eat out after school every other day. They blow off money on alcohol and pot, and they call me rich. I don't spend like they spend; if anything, I feel the opposite of rich. It's how my family spends our money and how their family spends theirs that makes us different.
So yeah, my kids will be frugal. I'll give them a couple dollars to spend on whatever they want in the grocery store to teach them how to spend only on what they really want. There's no way I'm giving them the new iPad 2, and if they cry, they better reread point 1.
6. Self-esteem.
Kids oughtta have some self-confidence. Look in the mirror and feel proud to be who you are. Don't be afraid to ask questions. These things apply more to kids past the age of 11 and continue on into adulthood.
"Be proud of who you are, because you are of my blood and I am awesome."
That's what I'll tell 'em.