If credit is respected and used intelligently - it is a great resource. Unfortunately, people can be their own worst enemies at times. I was chatting with an individual at work last year and he was complaining that he had a "hard time" making ends meet and he grossed just under $120K that year. 
A friend sums it up best when people live beyond their means "Living a champagne lifestyle on a beer budget - it is going to catch up to you sooner or later."
Be well....
Making ends meet depends just as much upon where you're living as how much you make...
My wife and I grossed about $125k last year, and took home far less than that due to taxes and health care. We spent $38,400 in rent and daycare. The apartment was an average apartment in a safe enough neighborhood. The daycare center had very good people taking care of our daughter, but wasn't any where near the most expensive place.
We both drive Toyotas - 1 paid off, and one halfway paid off.
Had we stayed another couple of months, we'd have had to file bankruptcy.
To own a decent home and not more or less live paycheck to paycheck in the Metro NYC area, you need a household income of at least $200k. Unless of course you own the house outright. In Westchester County, NY the median house price is $550k. 10% downpayment on that is $55k. $125k in the Metro NYC area with a 15 month old in daycare doesn't get you much!
We moved back to the Albany, NY area. Moved in to an apartment my father owns while we pay off our debt and then save up enough to buy our own place.