I do not make a habit of borrowing money. The simple reason is that sooner or later, you have to pay it back. Even for the few who decide to not repay a loan, they end up paying later on with bad credit, high interest or worse. Then there are those of us who got poor credit because of extenuating circumstances. It could have been from a job loss, medical bills, divorce or anything. With our savings gone because of when I got sick, we have had to rely on a Payday Loan a couple of times to tide us over until the next paycheck.
I was out of work for almost a year. My wife was working overtime so much it was wearing her out. I was finally able to go back to work, but by then our credit was shot. We had defaulted on a loan, had a car repossessed and were unable to pay back a credit card. Now we are making payments on everything, but that leaves no way to save a nickel. When something breaks, we get it fixed or buy used. We had to get a replacement refrigerator, but I did not have the cash to pick it up. I got a Payday Loan to buy one that was being sold in the classifieds. It made it so we did not lose all of our food or have to buy ice every day.
Sometimes life gets stressful and difficult to keep things going along normally. Things like this happen. It is how you respond to it that makes all the difference. I recommend spending as little as possible if you are on a tight budget. Do not waste even a small amount of money. We have not had dinner out in a very long time. The last time was with a gift card given to us on our anniversary. We are being wise with our money to get fully out of debt. Then we will have some breathing room and better credit.