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Early_To_Risa@sh.itjust.works

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Anon tries to understand credit scores (sh.itjust.works)

submitted 13 hours ago by Early_To_Risa@sh.itjust.works to c/greentext@sh.itjust.works

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[–] IronBird@lemmy.world 10 points 4 hours ago* (last edited 2 hours ago) (2 children)

tldr, debt is a trap. only when you accept it's a trap does it become a tool

if you want/need more $...learn the value of your labor.

[–] ryathal@sh.itjust.works 4 points 3 hours ago (2 children)

For the vast majority of people the only debt they should ever get is a house.

[–] Korhaka@sopuli.xyz 2 points 1 hour ago

That is what I have done, I don't like that debt either and some cunt at the bank getting 2/3rds of my housing expenses is only slightly better than a wanker of a landlord getting all of it.

[–] KoalaUnknown@lemmy.world 2 points 1 hour ago (1 children)

The average person does not have to financial means to pay for a car or school without loans.

[–] ryathal@sh.itjust.works 0 points 22 minutes ago

A car is absolutely doable without financing l. It's a poverty trap to finance a car. What you can't do is have a brand new car.

[–] uncouple9831@lemmy.zip 0 points 3 hours ago* (last edited 3 hours ago) (1 children)

That is a horrible tldr and completely against the precise and accuracy focused spirit of the poster. Very disingenuous.

A better tldr is lenders are looking at your current and past ability to pay your current, past, and predicted debt and sudden changes to the inputs make sudden changes to the point value, but that smooths out over a relatively short time frame on the scale of your life.

Nothing in that message has anything to do with better wages.

[–] IronBird@lemmy.world 3 points 3 hours ago* (last edited 3 hours ago)

nah, no lender gives a fuck about your financial situation, certainly not in america. bankstreet turned boom and bust investing into an science, nothing has changed there.

for the overwhelming majority of people all debt is a trap, for everyone else...it's still a trap, just a useful one.