Discuss four advantages of credit

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Two of your friends, Rip and Casey, are arguing over the use of personal credit (borrowing) to finance their purchases. Casey says that borrowing money of any kind is never a good idea and that it always leads to trouble. Rip, on the other hand, says that credit is fantastic and that you should borrow the money to finance your purchases at every opportunity.

Problem 1: How would you explain to your friends that they are both right and wrong? In your answer, discuss at least 4 advantages and 4 disadvantages of credit.

Reference no: EM132936434

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