If you follow Dave Ramsey, chances are you LOVE Dave Ramsey. I know I am a fan. However, you may have heard him speak of credit in a way that may not settle so well with your intuition. Your gut says, "sure Dave, if you have lots of money in the bank to pay cash for things, you don't NEED credit, but for the rest of us, when you need to borrow, you need the proper credit profile."
At least that is what mine was saying when I heard him say having credit (debt) is bad, bad, bad. And for some people, that may be very true. Some people may constantly live outside of their means by overspending, overcharging, and splurging. Some people may shop for therapy or fill every single little gratification.
But for the rest of us, likely the majority, having a credit profile by borrowing money for a car, house and education may not bury us. And for some of us, we truly use the credit card for the rewards. At any level, I truly believe with everything in me you cannot get through life without having a credit profile. Employers, insurance companies and lenders use this as a measuring tool of your ability to manage money. Not a measurement of wealth, but showing your "behaviors" when it comes to paying on time and how much you borrow.
What are your thoughts? I would love to hear from you! Even if we don't see eye to eye, I grow in this life by learning of other perspectives and will keep an open mind to hearing yours. questions@creditkristi.com
