Funny Money Friday: Taking a Break from the Credit Crisis

Money doesn't have to be boring! Each week, CreditBloggers.com takes a look at the lighter side of the personal finance world in a series called Funny Money Friday.

I can't be the only one suffering from a case of credit crisis burnout. Since we've been predicting trouble with the housing market since 2005 here at CreditBloggers.com, this is our third year of playing economic gloom watchdog. 

It's old news that housing, lending and credit card markets are feeling the pinch. Now student loans are in trouble and who knows who will be next. I'm frankly getting tired of reporting bad news day after day. So I've decided to use Funny Money Friday this week to highlight a couple good things about the credit world. Here we go:

• The credit system doesn't consider income or net worth. This alone is a good reason to feel optimistic. I love that our credit system doesn't know the difference between Bill Gates (Microsoft Founder) and Bill Jones (average-joe handyman). In fact, the handyman is likely to have a better credit score than the billionaire.
• You can't buy your way to good credit. This ties into the last one. The credit system is all about actions and personal responsibility. No amount of money can buy you a good credit score.
• Lending works. It is all too easy to blame lenders right now, but the American lending system really is amazing. There are few other countries in the world where you can fairly easily and affordably borrow in order to start a business or buy a home.
• The system is all about second chances. You can absolutely destroy your credit with a bankruptcy, foreclosure, etc, etc. and still get a completely clean slate once the records expire in 7-10 years.
• We have options in a financial crisis. Credit cards and other financial tools allow us to manage a money emergency without having to pawn off valuables or take other dramatic measures.
• There aren't debtors prisons in the US. Yes,  recent bankruptcy reforms haven't been kind to consumers. But we're still lucky to live in a country where your financial troubles won't land you in jail.

Whew! I don't know about you, but I feel better. Is there something in the financial world that you're thankful for that I've missed? Share your appreciation in the comments section below. Have a great weekend!

Emily Davidson – A former TransUnion insider and a member of Credit.com's expert team. Emily writes about credit reports, credit cards, loans and personal finance as the CreditBloggers.com editor.