RE: Debt sucks! So use credit productively.
Thank for being so responsive @fijimermaid
I agree that when people go through the decision-making process, they are wary of debt. But people's actions do not back up their thoughts and words. I posted this to explain the psychology of credit/debt.
Perhaps it's cultural thing. I live in Poland (east europe) and it has been drilled into my brain (and most people around me) to always build savings. To never spent more than I earn.
Access to credit has been difficult here (until we joined EU) so it may be the reason why our mindset here seem to be different.
People are spending credit easier than they are they're own money earned.
Borrowing money to spent on consumption seem to be super rare here. And idea of having financial buffor is something we're all learning even when we're a kids. (at least my generation did).
So ... my experience with debt seem to be slightly different.
"Perhaps it's cultural thing."
That is a very good point.
I'm also not considering other economic and political dynamics. Where a nation is economically speaking, fiscal and monetary policy, where they are in the debt cycle, etc... Whether the former and current generation had to go through hard economic times. After the Great Depression in the 1930s in United States, people were very wary of using credit and didn't start really using it until the 1960s.
I should probably be clear that my post are US centric, because the data that I post is US centric. And ask questions about other people's experiences and how they view credit and debt.