Most people will tell you that to achieve financial freedom, you will need to eliminate credit, and limit it as much as possible. While in general, the statement is true, there are some rare occasions when you might want to apply for a credit instead of paying in cash. No matter if you are new to credit cards or have been in trouble before, you need to read the below list of occasions when you can and should rely on debt.
Mortgages
Very few people are in the position to afford to pay for a house upfront. Your first home purchase will be likely based on a mortgage deal. You will have to get on the housing ladder, and this means taking out a mortgage and committing yourself for long decades. Unless you have inherited millions, you should use credit for buying and renovating your home, as it is an asset that is likely to maintain its value over the coming years.
