New Delhi, April 26 -- The words "credit" or "debt" can feel quite daunting, especially when you're just starting on your financial journey. For a long time, young individuals were often advised to avoid borrowing or seeking credit in the early stages of building their financial independence. The belief was that credit was risky, something to be avoided unless necessary. However, over the past five to seven years, this perspective has changed dramatically.

Today, credit is not only more accessible, but it's also available to almost everyone from salaried professionals to freelancers and students. With just a few clicks, you can apply for a loan or a credit card. But while access to credit has improved, it's important to understand that t...