Advantages of Credit
1. Financial Flexibility: Credit gives you the freedom to buy things & pay for them especially in times of need or when you don’t have the money right away.
2. Building Credit History: Using credit responsibly enables you to create & improve your credit score which in turn affects your future borrowing rates & terms.
3. Investement Opportunities: It allows people and businesses to take advantage of investment opportunities like buying a house, starting a company & going to school without having to pay the full amount upfront.
4. Economic Stimulus: It boosts economic growth by boosting spending & investment creating a virtuous cycle of economic growth & job creation.
5. Cash Flow Management: Credit helps with cash flow management for individuals & businesses enabling strategic planning & addressing financial requirements without relying solely on cash reserves.