First

I think it is better to have values that you fall short of living up to rather than not having values at all.

And to me it is only hypocrisy if you

A) Make no effort to live up to those values or never intended to.
B) Never really believed in those values in the first place.

Second

A point many people miss is that "family values" and "economics" are connected in many respects. Premarital sex for example. If you avoid premarital sex, you avoid teenage pregnancy and pregnancy out of wedlock. Both of which it is pretty well established have economic costs for both the people involved and the nation as a whole.

Third

There are limits to the influence a person can have within their own family. Values cannot be transferred to family members any more than athletic ability.

Children sometimes rebel against their parents beliefs. Brothers and sisters choose a radically different path. Even parents of someone expousing family values sometimes do things that are monumentally embarrassing.

Why should that reflect poorly on the person promoting those values?