When it comes to using credit, it is really important to always be thinking ahead. Remember, when you need credit you won’t likely be able to get it, so when you are working full time and things seem to be going your way financially, this is the ideal time to be applying for credit.
Take Joe for example. He is a 30 -year -old full time truck driver. He is earning $60,000 per year and life is good. He never bothers to apply for a credit card or a credit line because he is able to comfortably live off of his income. Then, tragedy strikes and he gets laid off from work. He soon depletes all of his excess cash flow and suddenly finds himself strapped for cash.