Responsibility with your finances is the best bet, so I will qualify what I said with, "For irresponsible people, it's best to have a bad FICO score and not inc

Responsibility with your finances is the best bet, so I will qualify what I said with, "For irresponsible people, it's best to have a bad FICO score and not incur debt. Better to live a cash life." This often includes college students. Also, insurance is for poor people. Rich people don't have insurance. For example, in Texas, you don't have to have car insurance if you can verify that you have $100,000 in cash available to compensate a victim of your wreckless driving. Debt is for poor people. Debt keeps people poor. If you want to be rich, take on no debt, spend only cash, and earn more of it.