The question of why people spend money in ways that don't make sense is one that's addressed by behavioral economics. This field of study used to be discredited in serious academic circles, but now it's gaining validity. A recent University of Virginia study attempted to explain why parents who were struggling with modest incomes would buy the latest video games, clothes and shoes for their kids -- even when they couldn't meet their other financial commitments. Researchers think it can all be explained by "the search for dignity." That's what happens when parents feel it is more important for their children to fit in and not feel different than it is to make wise choices that will help avert financial Armageddon.

Is it right to blame modern culture for creating situations where "the search for dignity" emotion kicks in? When Clark went to high school in the late '60s/early '70s, there was no Disney Channel or Nickelodeon to create a want in kids for certain products. But today once something is "cool," people instantly know about it. Take the popular film High School Musical for example. Disney sold more than a billion dollars of ancillaries -- High School Musical CDs, books and more -- after the flick's success. Clark's wife recently emceed a teen talent contest and all the kids performed songs from the movie. Modern culture has raised the level of expectation among children; it's like "keeping up with Joneses" has no lower age limit anymore. But Clark thinks there's value in telling a child that you can't afford something right now if that's the case. As he says, there's nothing in the Constitution about upgrading your child's Game Boy Advance to a Nintendo DS!