I agree with NewWorldMan. Most folks will have a period of time in their lives where they will suddenly find themselves without an income--or a marked decrease in income. Could be many things causing the loss--layoff, severe car accident, serious medical illness, death of a spouse, an act of terrorism, or many other scenarios.
One thing remains the same, debt will not be a friend in these times. Debt is spninding your money b4 you get it. Sometimes it's best to save up for a big purchase, instead of just charging it!