Are your kids asking lots of questions about what’s happening in the world? Are they wondering why you are taking more care with the ‘spending’ part of your own financial equation.

Here’s a great short video that will explain visually, in very simple terms, what happened last year (or rather what culminated) to create the economic situation we’re in right now.

Click here to watch the video. It may prompt more questions from your children so be prepared to go searching on the web for additional videos. Here’s another one you can watch after you watch the first one.

Watch and learn. Remember, knowledge gives you the power to make educated choices with your money and life. Teach your children this principle as well.