Mike Klumpp considers his maxed-out credit cards a "blessing in disguise." He says, "Credit cards are interesting because they look like financial salvation. One thing that happened in my divorce was that my credit cards were already at their limits. I had to learn to budget without a credit card."
Cynthia Yates says, "Credit is your future money used up. If you can't afford to pay the full price for what you want right now, how can you afford the full price plus interest?
"Credit drives the economy. What's happening now, statistically, is people are using credit cards as short-term, high interest loans to pay for diapers or food. I had an older woman come up to me and say, 'I'm scared because my husband's retirement check is not enough, and every month I go to the bank and borrow money on our credit card. What should I do?' I went to the people in her church and told them the situation. I was assured she would be helped. I followed up a year later, and the woman was well on her way to financial stability."
Don't get sucked in by credit. Talk to people who are knowledgeable about financial matters and seek wise counsel. Do this if you have debt or might potentially go into debt. Evaluate your current situation and make a plan to get rid of your debt and to avoid future debt.
"Of what use is money in the hand of a fool, since he has no desire to get wisdom?" (Proverbs 17:16).