Because it's likely to have such a profound effect on their college and post-school job prospects -- and because they are quick to pick up on family stress -- discussion about the financial turmoil should be conducted openly with children, experts told Sunday's Tampa (Fla.) Tribune.

"It's true that kids are being heavily impacted," Beth Garn, a family economics professor at the University of Utah, told the newspaper. "They definitely can pick up on it. The best approach is to be direct. If you have to cut back on extras, explain why -- that money is a little tight. But you have to reassure them that they will be taken care of."

"Talk to your family about what's going on," added Eric Storch, an associate professor of pediatrics and psychiatry at the University of South Florida. "But don't scare the wits out of them. Reiterate the importance of being together; explain that we're going to get through this together."

Teenagers, they said, are capable of understanding and of doing their part to help.