text: finances why do people put emphasis on credit so much? i teach a class that helps people break the cycle of debt that keeps families in turmoil.   why are americans so inclined to start this destructive cycle of borrowing on every asset they have.   additionally, why is a 30 year mortgage the standard.   wouldn't it make more sense to get a 15 year mortgage and cut your term in half?    the difference in payments (15 vs. 30) is not as much as you think. i think it depends on where you live (as you said, americans are for example rather inclined to get a mortgage) and on you family (if you parents had a mortgage, you kind of grow up with the idea that this is only natural)