As a kid, I felt very insecure when my parents would tell me about their cash-flow problems. What was I supposed to do with that information? So I have been hesitant to talk to my girls about our national and personal financial challenges.

Despite my hesitations, the news is almost impossible to avoid. I am trying to figure out the best way to begin the conversation.

I told my nine-year-old she could no longer take gymnastics at her favorite place because it is too expensive ($97 a month for a weekly lesson). I could see she felt bad, and confused. To her, the idea that it is "expensive" is pretty meaningless. And she wasn't sure what to do with the fact that a place she loved was putting a burden on the family. I found another gym that was less costly, but she declined.

Parenting Web sites, such as ParentCentral.ca, tell you this national crisis is a good time for kids to learn the value of money and how to economize. Sure, they can start saving their pennies. But how much do you tell them to convey the enormity of the crisis? It just seems like a heavy load for young kids to absorb.

What kind of economic conversations have you been having with your kids?

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