I was a toddler when my grandparents gave me money to buy a toy. Before my parents took me shopping, they said, "Remember, if you buy a toy in the first store, you won't have money if you see a better toy in the second or third store." By the time I could tie my shoes, I understood that I could not spend money I did not have.

I was in grade school back in the days when a child could bring a dollar to school once a week for the bank representative to deposit to your account. That lesson in compounding interest helped me understand numbers.

When I was a junior in high school, I got my first wage job. My parents taught me how to balance a checkbook, before I opened a checking account in my senior year of high school . By my sophomore year of college, I had in addition to a savings account and a checking account, student loans and my first credit card; my parents would not co-sign either the loan or the credit card application.

My Dad was around for my first credit card purchase. His advice has proven to be effective.

The day I got my credit card, my Dad sent me to the gas station to fill up. I paid with the credit card and when I got home, he said, "Remember, when the bill comes in pay it in full before the due date. Never, ever pay a finance charge."

If I had one prayer for all those about to get their first card, I would pray that they repeat the above sentences like a mantra every time their bill arrives.

The other valuable lesson Dad taught me was to save up for what I want, then make the purchase on the credit card. Not only does it make paying the balance in full a no-brainer, I earned interest on my savings until I needed the funds to pay the bill.

In my 35-year credit history (my FICO score is 833), I never paid late. The one time I did carry a balance was enough to convince me that the finance charges were way too expensive. I have always saved up for a large-ticket purchase before using my credit card.

I wish these basic lessons were taught in school. Imagine how powerful our nation really would be if we all learned to use credit cards as a tool, rather than a toy.

Old habits die hard. I could run up all kinds of debt and spend all kinds of money. I simply don't need to. My very definition of "need" is based on the financial education I got at home.

It may be too late for those already in college with a serious spending habit. But it is not too late for the school-aged children already making purchasing decisions that require adult thinking skills.

Because I have always used credit responsibly, my ability to leverage my finances is greater. If I want to buy property, I get a preferred loan rate. The only time the credit card companies contact me is to raise my credit limit. I have never actually reached the limit on any one credit card.

Many financial experts make the distinction between good debt and bad debt. Learning these lessons early, has left me with a sense of control, the power of choice and a strong feeling of well-being. The difference between my experience and that of many of my friends and neighbors is simply a matter of perspective.