<prompt> Human: In todays age where we hear about the falling of the financial system on a daily basis and private economy is basically at an all time low, people STILL flash their credit cards like crazy. I just dont get it.In my experience although Im only 22 I have plenty in this area, ask if you want to know there are only two 2 situations where a loan credit is ever necessary or acceptable: when buying a home, and to go to school. These are the only loans you will ever take that will more often than not give you something of value in return.Still I constantly hear of friends who loan money from the bank to buy a new car, a new TV, an XBox or whatever the hell they feel they need at the moment. All these things, however pleasurable they may be will end up costing you money and causing stress. A car will always be a bad deal.What makes people still buy everything yes, some people even buy grocerys on credit with their credit card? Dont they realize how they are just feeding the credit holders and smuthering their own finances?Hit me with your best stories of people buying stupid stuff on credit, or maybe stories from your past and let us all laugh at the stupidity.Let this thread and its comments serve as a cautionary tale for people to realize they need to plan for everything they spend money on! Hugz from Sweden.  <response>: In todays age where we hear about the falling of the financial system on a daily basis and private economy is basically at an all time lowUhh...noAlso, using a credit card isnt inherently bad. I have mine set to just pay the balance every month and I dont pay any interest. I dont give random people direct access to my money so if I have a problem, its American ExpressVisa that has to deal with the temporary loss of cash rather than me. Also I go for airline miles over cash back, but the rewards are great. 