What credit really gives you?

Good question, let’s see….does credit gives you power? Maybe it gives you security? How about problems? Of the three questions I have seen the latter to be true.

I am sure people like to argue that credit will give you power. These are probably the same people that are using credit to buy stuff they don’t need to impress people they don’t like.  The power received by credit lacks a foundation. Proverbs 22:7 says “The borrower is always slave to the lender”.  I fail to see how being a slave creates power.

Here is a good one…credit gives you security.  More like FALSE security. Do you really want to fall into debt so that you can have peace of mind? Is that peace of mind? Maybe you would rather work hard for a month or two and save $1000 to fund your emergency fund. I see this happen fast with the clients we work with.  Generally buy 6 weeks the emergency fund is complete and they can begin to attack step 2 paying off debt or step 3 saving 3 to 6 months of income, aka REAL security