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I don't have credit cards - haven't since 1997 or so.
I have two friends of mine that I love to quote as the perfect example of what went wrong during the recession. They had rather average jobs and lots of neat toys, all on credit. They lost everything - their jobs, their house, their toys, and their dignity... And son of a bitch, a few years after their bankruptcy they are back at it again - two new motorcycles and a $40k used Vette.
The only thing we have on credit is our house.
I've recently discovered the joy of used cars. Remember that car you dreamed about as a kid? That Monte Carlo SS, that Corvette your neighbor had, that Camaro.... They are all dirt cheap now. I bought a used truck - A Chevy Stepside - for $2k, did $2k of repairs, and then a cheap paint job.... Some of the repairs I did myself. Now I have a truck that is like brand new for $6k - Much better than getting a loan for $25k for some Kia or Toyota.
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