People frequently say to me that after a financial problem they want to avoid credit all together and not worry about rebuilding their credit, even though it’s so easy to do.
The reason they avoid credit is misplaced. It’s not the credit or having good credit that caused the pain they may have experienced because of a financial hardship, it was the debt. It’s cool to want to avoid debt. That can create a life of less stress and more peace. And that’s a goal worth achieving.
But if you extrapolate out the avoidance of playing in the financial system to the extreme, you can aspire to be The Man Who Quit Money.
The idea of giving up money altogether is an anathema to most of us. But living on a gift economy where you freely give and freely receive is just an alternative way to approach life. And truly maybe that’s how you aspire to live.
But if you don’t, then please don’t give up on having good credit, just give up on having bad debt.