This is like my personal rule. I try to avoid credit and loan, unless 1) I really need it(emergency etc) 2) it makes me money(eg. a business opportunity 3) its

This is like my personal rule. I try to avoid credit and loan, unless 1) I really need it(emergency etc) 2) it makes me money(eg. a business opportunity 3) its saves me money(eg. house loan(which isn't always the case)). But most people seem to take credit and loan just because they _want_ something, and just raise their standard of living on money they don't really have, and hurting their future wealth.