7 ways you could be setting yourself up for financial disaster

[Runningdawg]

9. I'm going to add one

NOT using credit.
I am 57 years old. I have bought 2 homes with cash, several cars and a few more large ticket items. I have money in savings, a checking account with the same bank for over 30 years that has never been overdrawn and don't owe a red cent to anyone. Yet, I was just turned down for a loan for a new furnace. When pressed, the loan officers (I tried several places) told me it was because I had no credit history.
A few years ago I applied for a pt.time job stocking store shelves overnight. I have 2 college degrees and experience in the field. Yet I was turned down and when I asked why I was told I could not pass the credit check included in the background check. I told them something must be wrong, I don't owe anything to anyone. I was then told by the human resource manager only poor people did not have credit cards and poor people steal.
Moral - you will be penalized much more for not using credit than abusing it.