According to the Federal Reserve's April 2013 G-19 Consumer Credit Report, Americans owe a hefty $850.9 billion in credit card debt, or $ 6,890 per household. If we are going to raise money-smart kids, we need to teach them the potential perils of relying on credit cards, and explain to them (and even model) the benefits of using cash. Here are some great reasons to choose cash over credit.