I so need to have The Talk with my kids. No, not that talk - I'm making their father have that one with them. (Just kidding!) The talk about being responsible with money. I have three kids. They're nearly 12, 10 and 3. My older kids don't really seem to have an understanding of money except for the fact that we don't usually have any. I know I need to start talking with them now if I want them to begin to have a good relationship with money and to be financially responsible in the future.

I Want It, and I Want it Now

My kids have inherited their mom's need for instant gratification. The minute they get some money for a gift or for an allowance, they want to go to the dollar store and spend it up. I've tried to talk to them about saving their money so that they can buy something cool instead of some piece of crap dollar store item. They've been so pleased when they've  been able to buy significant things with their money. For instance, my daughter was thrilled to be able to pay for her own ear piercing, and my son loves the telescope he was able to buy with some of his own money and a gift card from grandma. But it's so hard for them to resist that instant fix of buying something fun with their money right away.

My Friends Have...

We live in an area where there are some very wealthy families. Unfortunately, we're not one of those families. Our home is in a trailer park that just happens to be located in close proximity to some pretty fancy housing developments. So when their friends have a Wii, an iPod, a trampoline, a mini-fridge and television in their bedroom, a cell phone, etc., it can be pretty hard for them to understand why they can't have the same things. I've talked to them about the advantages we have now that I stay at home, and they seem to grasp that it's not so terrible to have to wait to get what you want. That doesn't mean that they don't feel a little jealous or upset when they see their friends get cool things.

We're Pretty Lucky

Even though they're certainly not the richest kids in their class, my kids know they have it pretty good. I talk to them often about our small home and how it's safe and warm and how lucky we are to always have food, as well as some fun stuff like toys, games and videos. They do get it, but I don't think they really have a grasp of what other families might be going through, how much harder others have it. I'd like to get them involved in volunteering or charity initiatives to really teach them about giving to others and being thankful for what you have.

The Talk

So what I need to do is sit them down to talk more often about money and their relationship with it. Thankfully, iVillage has recently launched a program to help moms like me do just that. It's called The Talk, and there's tons of information there about talking to your kids about money. There are also great resources, informative survey results and even a forum where we can get involved and talk to other parents about what they're doing to teach their kids about money. It's very cool. Here's a video that tells a little bit about the program.

What is also cool is that iVillage is giving away a $50 American Express gift card each week to a participant in their Weekly Sweeps Question. This week's question is "What do you see as the biggest waste of money among teens?"

It can be hard to talk to our kids about issues such as money, but I'm so glad there are resources like this to help. If you'd like to continue conversation from the iVillage forum on Twitter, look for the hashtag #HaveTheTalk. I'll be there talking!

*I was compensated for this post but believe in the program strongly. I know I need to address money with my kids more often and appreciate that I can get a little help along the way.