My credit card scenarios are NOT highly uncommon. You are again showing ignorance of reality. One guy in the history of the world gets arrested for using $2 bills, and is in and out of jail in a few hours, and that's the same as people getting into situations using credit cards that they don't see coming? Not likely.
The number one cause of Bankruptcy is medical bills.... 70% of people can expect a negative event in their lives to impact their incomes over any 10 year period...those are FACTS... not made up one offs.
Few, VERY FEW, people plan to not pay their bills.. life happens and they find that what they thought they had control over isn't so in control any more. You cannot predict tommorrow... no one can... but I can predict that if you use credit... you will have bills to pay tommorrow that you wouldn't have had you paid cash for your purchase.
Debt ALWAYS has risks associated with it, and if you think it doesn't you are patently ignorant on the topic.
You cannot predict tommorrow... no one can... but I can predict that if you use credit... you will have bills to pay tommorrow that you wouldn't have had you paid cash for your purchase.
And you are continuing to misunderstand me. I am not saying that it's ok to spend more with credit cards than you would if they were debit cards. I'm saying that the "debt" which results from not paying the credit card bill until the end of the month is not a problem. (By the way, in 10 years of using credit cards, I've paid exactly $0 in interest and penalties).
The number one cause of Bankruptcy is medical bills.... 70% of people can expect a negative event in their lives to impact their incomes over any 10 year period...those are FACTS... not made up one offs.
And it's also irrelevant, because if you incur expenses you can't afford, you're screwed whether you use credit or debit cards. Say Bob has $5000 in his checking account and spends $3000 over the course of a month. Then he has a medical emergency which results in a $4000 bill. If Bob used credit cards on his purchases, he can *choose* to either pay the credit card bill or pay the hospital, depending on which debt will be least harmful. If he used a debit card, he has no choice; the money is gone from his bank account and he has to hope that his debt to the hospital will be tolerable. The only moral here is that you should always have enough accessible cash to cover emergencies; credit versus debit cards is irrelevant.