051: I am grateful for credit

Oscar is at home and resting comfortably. Having to have emergency veterinary care on a holiday is very expensive. If we didn’t have credit I shudder to think of how yesterday would have turned out.

Rather than being the concerned cat owners we are today, we would have had to make a horrific decision. I am extremely grateful that decision was not forced upon us by circumstance, or poor money management (even though that is our bent).

What is credit?

Credit “is the provision of resources (such as granting a loan) by one party to another party where that second party does not reimburse the first party immediately, thereby generating a debt, and instead arranges either to repay or return those resources (or material(s) of equal value) at a later date. It is any form of deferred payment. The first party is called a creditor, also known as a lender, while the second party is called a debtor, also known as a borrower.”

Read More