> Spending money you don't have is being financially irresponsible, regardless of whether it's through credit cards or some other equivalent. Hmmmm... spending

> Spending money you don't have is being financially irresponsible, regardless of whether it's through credit cards or some other equivalent. Hmmmm... spending money you don't have is how modern economies work, to a great extent. Companies take out loans to fund investment when cost of capital makes sense. People take out mortgages to buy homes. > However, the financially irresponsible tend to blame the tool (eg credit cards) rather than becoming more responsible, and, in the case of this article, Gen Z seemed to have fallen prey to a similar tool but with a newer name. Well, there is a certain class of loan products that preys on people who don't deeply understand how our financial system works. That understanding only comes from experience. How much can you truly blame someone when the "tool" is designed in such a way to take advantage of them. Lenders obscure the cost/risk, use advertising to make it seem like free money, etc. They target young people, because they are the ones most vulnerable to such tactics, and they can probably work for a long time, so you can make a ton of interest odd them, especially with the current bankruptcy laws.