My premise is as follows:
I have heard multiple persons saying that one of the main causes of the current economic downturn is that we were living beyond our means through the use of credit.
I personally don't know one way or another.
I've avoided credit card debt in my own finances, but blindly (stupidly?) fell into education debt that is greater than many credit card debts.
And I didn't finish the course, either.
Still upsets me...At myself.
What are your opinions on this issue?
Is credit a good thing in some situations, depending on various factors?