Advantages and Disadvantages of Credit $($credit cards$)$

Use of credit provides immediate access to goods and services, flexibility in money management, a cushion in emergencies, among other benefits.

However, using credit is a two$-$sided coin, $($meaning their are good and bad elements$)$ and using credit requires evaluation of your current debt, your future income, the added cost, and the consequences of overspending.

Uses and Misuses of Credit

Effective use of credit can help us satisfy our wants and needs. Misused, credit can result in default, bankruptcy, and loss of reputation.

Questions to answer

BY FRIDAY,

What is a valid reason$($s$)$ for using credit?

What are the trade$-$offs or questions you can ask yourself before you use credit? $($Do I need this thing? Opportunity costs, etc. $)$

What are some Advantages of using Credit? Name at least $3$

What are some Disadvantages of Credit? Name at least $2$