It's a crazy world, baby. And with kids today not knowing much about the moolah, it's gonna get even crazier. Most boys and girls today think they get a great deal at the mall if the threads are "On Sale", even if they put it on a Visa credit card at 18 percent interest. That ain't gonna cut it, jack.

Parents need to be the first line of defense to keep their kids in check when it comes to spending. You don't get ahead by getting an allowance and blowing it all at The Gap. Kids need to work and earn money so they know how to be responsible with it. Give a kid 20 bucks and see what they do with it. Then have them mow a lawn or clean the house for another 20 and see if they do the same thing. Do you dig, baby?

Dave Ramsey said it best; there has to be an emotional and an intellectual connection between work and money. Teach your kids to work for the dough. Otherwise, the only place they'll know where to get it from is you.