Financial Freedom: 4 Times It’s Ok to Use Credit
If you are like most people alive today, you have grown up hearing about the evils of credit. Lured by the prospect of instant money, far too many people fall into a debt pattern that is unmanageable. You have heard of relationships being torn apart by debt and you are determined not to fall victim to that. This is certainly a good line of thinking, but it might give you to pause to wonder if there are actually some instances where using credit it acceptable. Here are four such occasions when it might just be ok for you to use credit.
Furthering Your Education
Education is a path to a more secure future. If you are looking at a new career path, going back to school might be the most logical way of securing the job of your dreams. Paying for school is often a prohibitive factor for many, but there are loan programs available that you might be able to take advantage of. Just remember not to borrow more than actually need.
Getting Into a Home
Owning a home is part of the American dream. With mortgage rates continuing to be at historic lows, now is a wonderful time to consider buying a home that you and your family can live in for years. You will want to come up with a good down payment in order to keep your monthly obligations as low as possible and to help you build up equity from the beginning.
Ensuring You Have Reliable Transportation
Getting to and from work in most areas of the country requires a reliable vehicle. Your family also depends on reliable transportation in order to get around town. You may not have the money to get the safe car that your family needs, so using credit may be an acceptable option. Look for a trustworthy Nissan dealership in your area and secure the best deal that you can.
Paying for Medical Emergencies
If you are in need of medical attention, it cannot wait. Do not let finances hold you back. Secure a low interest loan and get your self taken care of. This is an acceptable use of credit that you should not regret.
Remember that you will want to work hard to get an emergency savings fund established. Even then, there are times when it may be better to make use of credit than to tap into your savings. Make sure the purchase is really necessary and that you have the means to pay back the loan on time. Doing that will help you financially in the long run.