How do you explain to your kids that you just can't afford what they want?
Tread carefully. Although we want to educate our children about what's happening right now, we certainly don't want to scare them. To find out how to talk to our kids about what's happening in our world, momlogic assembled a panel of financial industry moms. They came up with some pretty interesting and insightful ways to talk to your kids about why we all need to tighten the belt right now -- and why that trip to Toys R' Us will just have to wait. Remember, just like that sex talk you've been putting off -- this is something you want your kids to learn about from you, not the television.
1. Watch "Kit Kittridge: An American Girl" with your kids. The film takes place in the Depression -- and can help kids better understand the difficult time we are in right now.
2. Stress the importance of savings. If your kids are begging you for a new toy, start saving for it together. They'll get a kick out of seeing those coins add up to dollars.
3. Donate to charity. Go through old toys and closets together. Explain to your kids why it's so important to give to those who are in need.
4. Monitor television watching. The evening news is filled with some pretty scary gloom and doom stories. We want our kids to be informed, not scared to death.
5. Be honest. If you need to put in more hours, as many of us do, explain that it's important for you to get that extra work done but you will still make it home as soon as you can.