I’ve never been what you could call anything even remotely like a financial wizard of any kind however there is one thing that I think I know and that’s to avoid debt whenever possible.  That’s not to say that you should never get a loan.  Loans can be quite helpful in things like buying a house or car, or even getting a small business off the ground.

The problem with credit in general is that people are all too quick to use it when it’s really not the best idea.  They’re thinking more about getting something yesterday than the idea that their situation would be better served if they simply saved some money and then got that widget they’re wanting.  Yeah, I know, in this “instant gratification” society we live in now it’s not such a popular thing but it IS the better idea more often than people will admit.

Like I said, used properly, like for Homeowner loans for people who can actually afford the payments, credit can be a useful thing.  Unsecured loans on the other hand sound like almost a free ride, but because they don’t involve collateral, people with less than really good credit ratings aren’t going to qualify for them and will have to use “secured” instead.

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