The classic image of a child putting coins in a piggy bank resides within many of us. Purchasing anything was monumental; the piggy had to be smashed to access whatever money we had acquired. Of course, there was no point in destroying the bank if there wasn’t enough money inside to buy the latest action figure or dress-up doll. We eventually learned to save our birthday and chore allowances so we had more than enough money when the time came, much like our long gone ancestors had to.

Because of this upbringing, many of us have always perceived “money” as a physical entity. Thus we have never felt an overwhelming urge to spend our cash too freely. But credit cards make buying now and paying later a simple reality in economically sound countries like the United States. No wonder American consumers, carrying 4 credit cards on average, according to Statistic Brain‘s 2012 survey, are tempted to spend so much more money than they have. Underlying the credit trend is debt, which has become even more serious because of credit.

Debt for individuals and bankruptcy for larger groups are the ultimate results of spending too much money. Brazil knows this better than most; for almost 50 years, the country’s economy was in shambles because of such reckless spending. In 2011, this radio broadcast by This American Life recounted the financial struggles that enveloped the country after its government decided to produce too much money during the 1950s. Excess currency lead up to 80% inflation by the 1990s, making even basic necessities like milk cost almost two times as much as their original value.

In today’s times, it is not Brazil, but Japan that is about to suffer an economic crisis. Despite Japan having a public debt that, according to The New York Times, is twice the size of its economy, the Prime Minister Shinzo Abe has announced an economic stimulus of 12 trillion yen ($136 billion) for the country. Although economic stimulus does not necessarily create inflation, this will most likely lead to some of the similar economic problems that plagued Brazil for decades. The yen will become so devalued that no one will want to invest in Japan. The prices of goods will soar, leaving the Japanese people unable to pay for the basics. When will the global community learn that taking more than what you have will lead to severe consequences?

The lesson to be learned is don’t overspend. The island of Yap is quite famous for its ancient monetary system consisting of giant stone coins. According to Milton Friedman’s essay “The Island of Stone Money,” the islanders considered their currency to be so valuable because it was a “concrete manifestation of wealth.” The stones had to be carved, then transported over the ocean some 400 miles to the island. This currency worked because the people of Yap had a physical connection to their money. Simply put, if the stone coin did not exist, then the wealth did not exist. Our world of credit cards could learn a lot about economics from the people of Yap.