Sure, but credit costs a lot more than savings that get some interest and is thus portected against inflation. When you go to your bank to get a loan, the banker looks at your overall financial situation and particularly your savings because they are the guarantee that:

1- you know how to manage your financial situation;

2- you have some reserve to face the necessity to pay back in an emergency or to face an emergencu expense that you did not foresee.

3- you know that living without any reserve or savings is the best solution for getting bankrupt one day for any reason whatsoever.

Written by

Dr Jacques COULARDEAU, PhD in Germanic Linguistics (University Lille III) and ESP Teaching (University Bordeaux II) has been teaching all types of ESP

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store