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AjayM -- For the most part, I totally agree with your post. :emoji_thumbsup: But the way I operate is that if I have to make payments on that shiny new $20k car, then the reality is that I can't afford that car. Here's why: According to the NADA, the average car payment in the United...

Problem is, with a $500 emergency, and only $75 in "extra" income at a time, he absolutely will be carrying a balance like most Americans. That's why a healthy emergency fund is really useful. I'm a prime example: I just today paid a $949 car repair bill in cash, thanks to having an emergency...

If you've kept up on your utilities and rent for two years, you don't need a "credit record" to buy a house. So the concept of "establishing credit" is history.

I strongly recommend NOT getting a credit card... for the same reason I advise people who don't like snakebites to not play with snakes. Put yourself on a budget and save up the $500 in a place from where you can easily get it if you need it.