In these hard economic times, many Americans are considering when and how to teach their children about finances. Meanwhile, the FDIC and the U.S. Department of Education have joined together in an effort to bring the subject of finances to the classroom. Janet Bodnar, Editor and Columnist for "Kiplinger's Personal Finance" and author of "Raising Money Smart Kids", says children's financial literacy is essential. Bodnar spoke with CNN's Kiran Chetry Tuesday.