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True but that lies in the nature of choices people make. Apart from mortgage (or in general credit on appreciable assets) I would not recommend the on-credit lifestyle that is ad-suggested as the American Dream™ (that's different for businesses, I'm not against credits in general). As an individual carry insurance, pay the year ahead. Yes it hurts, but not as much as that unexpected 500$ expense... The boot theory works pretty well with credit though ;)