Protecting your credit
I was talking to an elder friend of mine the other day, and he started telling me a story about a friend of his who was a banker. This banker friend gave him a lot of sage advise over the years. One of the best quotes he ever got from Mr. Banker was this: Your credit is the biggest asset of your life. Protect it as if it were life or death. And befriend your banker, always! Over the years this elder friend of mine took this advise very seriously and as a result he told me of all of the benefits this advise gave him.
During hard times, my elder friend was able to call Mr. Banker and get money transferred into his account to cover the emergencies that came up, just on his signature. When he was selling a home a few years back in order to buy another one, and he was going to pay cash for the new home with the proceeds from the house he was selling. When the buyer of his current home was admitted to the hospital on an emergency, and they were afraid of losing the new home, he was able to get the money for the second home until the first one closed. That is the kind of thing protecting your credit will afford you in times of emergencies.