One remark that I have been hearing a lot lately is how people feel they have been mislead in life to borrow various forms of credit to purchase items and as a result they are in thousands of dollars of debt which seems impossible to pay off. Even on a business side, so many people are saying that they can’t maintain operations as a result of not being able to get enough credit.
Maybe I am one of few that think this way, but to me credit should simply be a form of convenience and not as an integral factor to either purchasing things or operating some kind of business. Similar to a credit card, if I don’t have say $100 in the bank already then I am not going to buy a $100 gizmo with the intentions that I will find a way to bring in that amount by the billing due date.
So just thinking about it, if you had no credit today how would you be? For myself, I know it would be kind of an annoyance such as having to carry money around, but for the most part everything would be pretty normal. While you may be to get things a lot faster by borrowing a lot of money, I usually prefer to have as less liabilities as possible.
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