Show your kids this amazing comparison chart to illustrate the power of starting early when it comes to investing. Then open a Roth IRA as soon as they earn W2 income. (See: http://blog.famzoo.com/2011/04/pave-road-to-retirement-for-your.html)
This is the debt free story of how one family paid off over $20k ($22,047.93 to be exact!) in less than 9 months. When they started they were living on one low income and by the end nothing would ever be the same. Get inspired on your own debt free or frugal living journey with this amazing debt free story.