In the battle over children's wants versus needs, parents hold their ground.
Parents have the power to be financial role models.
But it's okay for parents to set limits, to help their children see through the hype of marketing messages, and to help them make sound decisions about their finances and values. Twelve percent of parents say they do not talk at all with their children about family finances. Although parents are talking to their kids about finances, most are reluctant to reveal details about the family's finances.