| yanamaster said: @ Mafoo god damn it man, if you had money why use credit? That's just plain stupid, especially during a crisis when it's inevitable for interest and credit rates to go up. |
I use credit on things that are large and all the sudden. We always budget for a marriage, but I am not the only one getting married, so the budget gets blown (and in her defense, no one really plans these things well).
Another example, would be when my mother got Cancer. I flew her to the Mayo, put her up for a week while they checked her out, and flew her back to Albuquerque. I wanted to make sure she was getting the right treatment.
I could do two things. take a hit in my savings to cover these things (leaving me venerable if a disaster happens, like I lose my job), or I can pay a fee for a loan that if things get really bad, I can keep paying the loan fee (the interest).
It's just a way to buffer large unforeseen expenses. It's worth the small cost for the piece of mind.
