Children NEED rules, you leave them choose their own ways without rules, and goodluck with regretting later on.
Children need to be discplined, I don't mean you will *force* them, but children aren't that experinced to choose their own way themselves, otherwise they wouldn't go to school and stay at home and play, but that doesn't happen because parents make the rules.
I'm very glad my parents made rules and made them clear, God only knows who I would be today if it wasn't for what my parents did.
You are the role model, believe it or not, your kids will copy everything you do, everything you do will effect them, there is a good reasons why many teenagers hate their parents and rebel aganist them,
Please, be careful what you teach your children, be sure you make the rules and show them the way they should follow, that is the only chance you'll have obident loving children, and don't take my words wrong, I don't mean you'll curse, spank or force them, it will be done with love.
I've an Armenian friend living in Egypt, Christina, who once told me "I'm very sad my parents don't care, they never ask where I'm going, they let me decide on anything, they don't love me, if they loved me, they'd tell me which way shall I follow."