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My parents were always 'if you can pay cash you can have it' people. The only time they borrowed was for houses and cars. They are in their sixties and have only recently (in the last 5 or 6 years) got a credit card (mostly because they started travelling a bit). Even this, they tend to front load it with cash before they go somewhere.
I'm kinda in the same mould - I just can't blow money that I don't have. I have a mortgage, but no credit card debt (I have a visa debit card and an amex charge card, which has to be paid in full each month). If I can't pay cash for it, I don't get it.
We've sent our five year old off to school today with 50c to spend at the canteen - this will be his first transaction. There are only a few things he can buy at the canteen for this and he will have to get change, so he is going to start to learn what money is for. I guess we'll see how he goes...
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who hid my keyboard's PANIC button?
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