credit vs. budgeting

[sailor_mercury]

Nice Job Yude!  I'm impressed

[blondy250]

"Well personally, I will brag about the things I have.... Having credit cards is a good start to later getting a house, luxury car, etc and then I can brag about those later. "

WOW

[takeshi74]

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@revvystoke wrote:

I see users posting sometimes, commenting on how difficult it must be to have large credit lines and not immediately spend up to the limit 

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It wasn't too difficult for me once I understood how utilization impacted my credit.  Having one card balance chased due to prolonged high utilization taught me my lesson.

[aubie1kenobie2]

For me it was seeing from some relatives how they became slaves to debt and runied their future and their children's futures as a result of living beyond their means and using debt to supplement their income. I have been "debt averse" for a period of time, refusing to buy anything unless it was paid for in cash (which was how I got my first car -- used, mind you). Then I realized that you can't do that with a house or a decent car and that a lot of other things depended on your credit history, so I got started (better late than never). There are definitely tricks and strategies to building a credit history, but the key thing is always making sure you can handle the debt you incur -- you need to have the means to pay it back.

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