My daughter is 22 and in her first year out of college. She has an apartment by herself, a 7-year-old car, a first job that doesn't pay a fortune and no debt. She has managed to save an impressive amount in her first few months in the working world and has an incredibly healthy attitude toward money. She has never applied for a credit card.
As I sit here squeezing every penny for the next week, and knowing we don't have enough cash to help her out with her car even if we wanted to, I realize that she has done it. She has done as we said and not as we did. She is starting out knowing a zillion times more about money than we did and her choices are proof of that.
I am forever thankful that I woke up to this mess in time to share my newfound wisdom with my children. They will be so much better off financially than their parents. What a wonderful realization.