Choose cash over credit every time. Other cultures around the world do transactions with only cash, no matter what the currency. Something can be learned from someone who uses only cash. Don't spend more than you make. Get your children a piggy bank that has a slot for saving, spending, and giving. Teach them young and lead by example. Don't be a slave to the lender. After all using cash instead of credit is the right thing to do and it models the way for others.