Credit is best used by people that don't need it, except for business transactions. I buy rental properties, but no one will lend me the money so I use cash.
Personal finance should be taught in every high school. Most people in the is country do not even understand how interest works.
Before the recession, the average person's net worth was a negative number. ie more debt than assets. That is why we may never completely recover from what happened. Low interest rates have saved the Govt so far.
