I have no sympathy for anyone living on credit!
I’ve had at least 6 months expenses, most of my life at lest a year or more in the bank, starting when I opened my first bank account at 8.
Eacept for a mortgage on our home that has been paid off for 24 years I have never borrowed one cent for personal or business.
Goody for you.
LOL. Credit isn’t bad any more than medicine is bad. Both credit and medicine can be helpful and both can cause a problem if used improperly.
Would you be so flippant about someone living on medicine when sick? Maybe you’ve not been in need of credit. Maybe you never perceived the opportunity credit provided [notwithstanding your mortgage.] Who knows.
But we’re all very, very impressed with your story about savings accounts since being 8. No, really.
>>I’ve had at least 6 months expenses, most of my life at lest a year or more in the bank, starting when I opened my first bank account at 8.<<
How much living expense can you have at 8?
Seriously, people get their back to a wall and look for the easiest lifeline. It is a bad idea, but they do deserve some sympathy.
There, but for the gifts from God, go I (us).
The emphasis here should be to USE CREDIT properly, as a support, not a crutch.
And I have been paying my credit cards down to zero for 20 years.
Well, like she said, goody for you. And goody for me, because I was lucky enough to come of age in a time that offered few temptations in the way of credit.
I remember as a young teacher getting my first credit card at Sears and Roebuck (tiny credit limits), and getting a few "gas" cards.
Low limits, sensible and provident.
But who knows, as young as I was, what would I have done with the temptations offered by credit card companies such as those that had BOOTHS at university registration days, offering lots of free credit to 18-yr-olds with NO INCOME.
I see this, and I want to go all Carrie Nation and get out the baseball bats and go after these seducers of the ignorant and ineperienced.