Before the economic crisis of 2008, credit was doled out so freely that getting into debt was an accepted way of life. It was almost considered normal for a family to carry multiple credit cards with balances reaching into the thousands or to withdraw all of the equity from a home in exchange for regular interest-heavy payments.
But since credit became more difficult to secure an increasing number of consumers have had to learn how to live a cash-only lifestyle.
What does that mean? Simply put it means that if you can’t afford to pay cash for what you want to buy you cannot have it.