That's the smartest thing you could do, Bud.
SAVE every dollar that you can. They add up quickly - and are spent even faster. Maintain only enough debt to build a good credit rating (when you're old enough to need/qualify for credit), and pay it off as soon as you reasonably can.

I gave my kids "gift cards" for Christmas this past year. They were "impressed" by the total of the gift cards - thought they were rich! LOL!
When we took them to the mall for them to use the gift cards and get what they wanted, they saw for themselves how far a dollar goes these days. I think they were very surprised and gained an appreciation of what we do for them - every day.
This may seem impersonal or antisceptic to some, but we know the kids learned a valuable lesson (besides letting US off the hook in deciding what they'd get within the limits of our Christmas budget - and what they wouldn't get.......THEY had to "make the hard choices" themselves). As parents, we feel our primary obligation is to "teach" our children, not pamper them.