(December 4, 2016 at 8:45 am)operator Wrote: And I can't say I've ever thought of credit being "scary" I just never had a legitimate need for it and I've never really bought into the whole idea that you need credit to live. I think it's a luxury that we have in today's age but I honestly think it's a huge fucking scam and credit card companies have convinced everyone in the country that you need a credit card to live the American Lifestyle and I just don't buy into it.
You don't need a credit card to live, but if you can make money off it and improve your credit score, why not do it?
Quote:I would honestly never buy a house until I had the cash up front.
If you can save the money up quickly, there's some benefit to doing this, however for people on a modest income, mortgages make much more sense. Not only can you live in the house while you're paying it off (so you aren't losing money by renting), but often you can deduct the interest paid from your taxes each year.
You really need to do the calculation and work out how long you need to save the money for the house vs how much you'll be spending in rent during that time.
