If children sense your stress about the economy, try the approach suggested by Catherine Solheim, a professor in the Department of Family Social Science at the University of Minnesota:

• For the youngest of children, Solheim suggests getting out some play money and setting up a shopping scenario. "What if you want to buy something and you don't have the money?" she advises asking. "It's a real teachable moment."

• For older kids and teenagers, you can discuss the financial downturn in greater detail, she says.

• In all cases, you should involve your kids in finding solutions when money is tight. If your daughter needs a new soccer uniform, for example, encourage her to think of ways to find money in the budget to buy one. And when you do save money, be sure to set it aside in a jar or envelope to watch it add up, she says.