When it comes to getting into debt, in almost any case you have an alternative. However, there are some things worth getting into debt for:

One example is, buying a house if you consider to stay there for at least some years, and if you can get a low rate of interest on your mortgage loan, and if it's not overburden your monetary resource; purchasing a vehicle so you can get to school or work; and last not least student education loans so that you can go to school.

However, most other types of debt involve luxury rather than necessity.

Nevertheless, it's never a bad idea to own a credit card that you can use in case of emergency, however you need to realize what "emergency" stands for. The wish to purchase a new designer outfit for that forthcoming high school reunion is absolutely not an "emergency".

And, for that matter, a future birthday or holiday isn't an emergency either. Ask yourself - if you are on a tight budget and can't afford to purchase an expensive present, or presents, is getting into debt to purchase them really the wisest decision?

Because odds are you'll not have paid this pricey present off by the time the birthday or holiday rolls around next year and what is going to be dissimilar next year at the next holiday? Is it that what you want, to be forced to go into even more debt if you want to purchase more unaffordable presents?

Before you run up your credit card or apply for credit, you always must stop and ask yourself as to the necessity of any purchase. Is this purchase contributing to your family's future wellbeing and your future, the way a college education or a house will?

Is it a really practical necessity, the way an automobile is? Whenever the answer is no, it is absolutely not a wise decision to get into that debt.