If your family is facing tight financial times, it's important to talk with your children about the situation. The key is to have an informative conversation with your children -- without engendering fear.

Of course, this scenario doesn't always play out the way you'd like it to. Clark recalls hearing the following story back in the early '80s: When a father lost his job, both parents sat down with their 2 teens to talk about the sacrifices they'd have to make until he found work again. The parents felt they really got their point across; the kids were engaged and asked great questions. But shortly after, the daughter came back and asked for $20 to go to the mall!

The teens obviously missed the message. We've lived through a period of unprecedented affluence for our children. We are a nation that spends like crazy on kids in their formative years. Consider the Air Jordans phenomenon. The iconic athletic shoe goes for anywhere from $185-$230!