Teach kids to live within their means

Michelle Singletary:

In the book of Proverbs we are told: “Train up a child in the way he should go: and when he is old, he will not depart from it.”
Somehow that lesson gets lost for many families when it comes to teaching children about money — even though there are a number of government agencies, nonprofit organizations and private companies promoting financial literacy.
As parents, we know it’s imperative to teach our kids to say no to drugs and alcohol. But can we honestly say we’re doing enough to help them fend off consumerism and credit dealers? I’m doing my best, but I could do better.
Most important, are you training your children to live off an average salary as young adults? Or are they now living so large based on your income that they will be incapable of managing their finances on a modest starting salary once they get into the real world?