More For Your Money - University of Illinois Extension

Advantages and Disadvantages of Credit

Credit can be good when used wisely. It can improve a family’s level of living. For example, most people use credit to buy their homes. The main reason most people use credit is that they do not have the cash to pay the total cost of an i tem or service at one time. Another reason is that it may be easier to pay for an item through regular installment payments.