With high gas and food prices, Moms aren't the only ones in the red. In fact, three out of 10 teenagers admit to being in debt. A 2007 Charles Schwab survey on Teens and Money finds that many teens are actually motivated by their parents' behavior, with one in four saying their parents are more likely to use a credit card than cash. Is the best way for parents to teach kids about money being honest about their own choices and challenges?

We wanted to know how Power Moms broach the topic with their own children. Friend of Mom•Logic Judge Jeanine Pirro is a mother on a mission when it comes to her kids and money.

Power Mom and Editor-in-chief of Essence magazine, Angela Burt-Murray, says her boys are learning life lessons along the way.

"We're having conversations about money in our house. My boys want a Wii, but we tell them that we're not getting one, they need to buy it themselves. They have their own bank accounts, and our rule is that they can't spend more than half of what they have in the bank. It's really difficult raising kids in this world of debit and credit cards, because it gives them a false sense of what money really is."

Are you a money whiz or a financial trainwreck? Do you teach (or plan to teach) your kids the value of a dollar? Go to our Mom•Logic community and share with other Moms.