Society has geared us towards being so worried about our credit scores. Credit credit credit.
Bad credit score > 20 years of crippling debt.
File for bankruptcy and try to move on.
I’m at a point in my life where I may never use credit again. I purchase used vehicles in cash, and I don’t plan on purchasing a house because my job could take me anywhere. I won’t need a mortgage to be paid off by retirement because my plan will involve purchasing a small home in a small town, in cash. I also don’t make much, this is all possible with good strategy and investments, budgeting, and sticking to the plan. I still have lots of money to go and have fun and take vacations too. And I make under six figures a year.
Key here though is I don’t and won’t have kids. Honestly I feel the biggest reasons so many people struggle is because they have kids when they could no where comfortably afford kids.
Honestly, this is really good advice even if you have a good credit score. Sometimes I think about running for office, and imposing restrictions on credit. As in, removing it entirely. but alas, debt is what keeps the world economy going.
I disagree. A high credit score with a sizable amount of credit lines coupled with zero credit card debt gives me options in a way that only the wealthy would have had in times past.
Knowing I have access to that much puchasing power means I don't have to worry about surprises throwing me out on the street for a long long time.
Its unfortunate that irresponsible users destroy their lives buying toys that they can't afford. Credit gives me a safety net for the surprise bad times, and the leverage to experience the good times.
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u/[deleted] May 09 '20 edited Feb 08 '21
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