The other scary things with financing is people who struggle to live within their means and people using it for emergencies when they struggle to make ends meet.

Personally I follow the rule I was taught: only use financing for housing, vehicles, and education, each of which should be evaluated to be within your means and benefitting your life.

Debt is a chain, it can bring great advancement such as homeownership or a desired career, but it binds you for its duration and it’s an awful experience. I hope someday to be debt free, but it’s financially stupid to pay off my student loans right now when a mutual fund has more return on investment. I still like to put a big chunk in for special occasions when I can