This is the actual meaning of the root of the word mortgage
mort gaige, lit. "dead pledge" (replaced in modern Fr. by hypothèque), from mort "dead" + gage "pledge;" so called because the deal dies either when the debt is paid or when payment fails (and the property is taken away)
In general, people have to make sure they spend what they can afford, or debt will grow and grow and you will come into big problems. I personally would rather spend money on a mortgage, then continue to pay rent all my life without gaining anything. Eventually, I will no longer need to pay mortgage, but rent never stops. There will still be monthly cost, but not nearly as much as rent. Also, if I need to borrow money to start a business or for a car or something else, I can get more because I have a house that is partially paid off, and that has increased in price over the years. Whereas rent only gives a person the ability to borrow less because it is a monthly expense.
For credit cards, they can be useful for delaying payment (but paying during the grace period before interest is charged) and everyday use for getting the points that may be offered(again, as long as it is paid within the grace period). If a person uses credit cards and can get a credit account, be sure to do that. I never let credit stay on a credit card, if I can't afford to pay it within the grace period, I use my credit account to pay the regular credit card, because credit accounts charge considerably lower interest. Another note, if your credit account has a credit card that can be used, it is actually better to not use it and use a regular credit card instead. Then transfer it to the credit account before the grace period ends. This way, you don't pay interest during the grace period and if your credit card has points, you get that as well.
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