Well, we’re a little old to not know our limitations, so I don’t think we’re playing with fire. We’ve been saving religiously for years, always have the money taken out before we even see it in the paycheck, and invest it. Add that to retirement accounts and I don’t think we’re going to get burned, because as I said, we don’t buy anything we don’t have the money in the bank to pay for. We’ve lived in the same house for 20 years and had a 15 year mortgage, so that’s done. We drive 10 year old cars that we bought when they were “almost new”...(we don’t believe in car payments)...but we’ll drive those cars till they wear out, then buy used cars again.
We’re not taking risks...and you shouldn’t make blanket statements that it is never right to use credit...that’s just not the case. It might be right for you and for many others, but it’s not fair to put your experience on others. It’s great to give advice, but you can’t assume that everybody will fall into the same trap you did.
As I have said you can assume the risk if you want to.
I will not and will advise others not too as I get a chance.