In the case of an accidents causing damage to your home and other property, it will cost have any damage repaired, or replace anything that is lost or destroyed. To be financially secure, you will need some form of home insurance. Also, many mortgage holders require you to have some amount insurance, to protect their investment.
It seems to me that the majority of people own at least one credit card, and use it regularly. Is this a good thing or a bad habit? Well, it all depends on who you talk to. The older generation typically feel that credit cards are an evil invention that should not be used, ever. If you should happen to succumb, then you should make a payment immediately to clear the balance. How many times have I heard “If we couldn’t pay for something, then we just had to do without”, and this included food.