Credit - Why do I Care?

Credit is your ability to use someone else’s money to acquire items or services you don’t currently have the cash to pay for. You should care because for most of us, it’s how we acquire major items like cars and homes, as well as everyday things that make life easier and more pleasant.

In the early 1900s very little credit was available and people used it very carefully. Today, everybody has it and it seems the more you have and use the better. Some of these quotes are pretty revealing about today's attitudes about credit.

“Anyone who lives within their means suffers from a lack of imagination.” Oscar Wilde
“You should always live within your income, even if you have to borrow to do so.” Josh Billings
“It’s amazing how fast later comes when you buy now!”
Milton Berle.

You really should care because without it you'd have to spend only the cash you actually have. That's not a bad practice but you might find yourself riding a bike to work.