Except for a reasonable (at that time) mortgage, because it was still really quite difficult to come up with $125,000 in cash unless if one was making $22an hour plus OT and living rent free with Mom and Dad for 10 years...
But then my husband got disabled ( before the ACA) and I suffered a workplace injury that left me at half my previous income. And we had to sell the house quick or lose it in foreclosure.
And the medical bills kept piling up, especially therapy and prescriptions, because payday was only twice a month and we still had to eat and pay rent. So we got a credit card to cover the medical bills as they came up between paydays, let his SSDI pay them off.
And then we got custody of his daughter, a teenager who needed school things.
Now husband needs a special diet. Again, much more expensive than making a Costco run after payday and getting everything you need for the next 15 -16 days that doesn't need to be fresh.
I know from experience that when everything is running well, there's no kids or medical issues, and if someone is able to comparison shop or haggle, the paycheck can cover all bills with left over for savings right until the next payday, there is no need for credit. I was able to pay cash for my used car, pay a mortgage, and still maintain 6 months salary in my savings - until I got married. And husband soon after became disabled...and, and...
Now, I'm making twice as much, but spouse is still disabled and we're raising the grandkids because the kids can't afford to maintain themselves, let alone a seven and three year old...
Not an excuse, but still - what is easy choice for one is not necessarily an easy choice for another. And credit purchases have been both a means of survival and the bane of working household for millennia.
Haele
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