Back when I started college 25 years ago, it was extremely difficult, if not impossible, for most students to get their own credit card or loan to pay for school expenses. Now, credit has become easier to come by. However, in what cases is taking out a loan a good idea and when is it a financial mistake? Buying a car, paying for college, buying a house, purchasing textbooks, getting a new iPod? When should people just save money and pay for an item in case?
Share your ideas and experiences.