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My son, his cousin and their grandpa worked on a fun project recently, making wallets out of duct tape. I was so proud when I found out he told his "tata" that he didn’t need any notches in it for credit cards because "we pay with cash."

I’ve never been so proud … and so sure that he’s been listening all along. Listening to me talk about how while our family uses cards, they’re debit cards, not credit cards. And that if you don’t have the money to pay for something, you don’t buy it.

There have been many studies that show when you pay with cash, you think more about what you’re buying, and that often leads to spending less. Why do you think every business out there – even McDonald’s ..,. in the drive-through! – allows you to pay with a credit card? It’s not because it’s convenient … it’s because you’ll spend more.

I’ve never had a lot of credit card debt, but when I did have some, it made me sick to my stomach. It’s why today, I’m so intense about saving up before I pay for something. And it’s why I am so focused on teaching my kids that, as financial expert Dave Ramsey says, "cash is king."