Re:How One Couple Climbed Out of Debt and Became Millionaire...
by xsmasher on Thursday June 04, 2015 @01:53PM
(#9660862)
Many people use credit to buy MORE than they need, and MORE than they can afford. A new car instead of a gently-used car, a larger house that just becomes a sink for their income.
That doesn't mean credit is bad - it can be used as a leverage to do more with less - but people with money problems tend to use both cash and credit badly.
If it was 25k in credit card bills from vacations meals out plus a 5k jetski loan, I'd be tut-tutting too.
That doesn't mean credit is bad - it can be used as a leverage to do more with less - but people with money problems tend to use both cash and credit badly.
If it was 25k in credit card bills from vacations meals out plus a 5k jetski loan, I'd be tut-tutting too.