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Specification:
Summary: Credit scores are supposed to measure how responsible you are with money, but they actually encourage people to borrow more instead of saving. Lenders reward people for taking on debt, like having multiple credit cards, instead of making smart financial choices like paying bills on time or avoiding unnecessary loans.
Click to read the article and then answer the questions:
Credit scores are hazardous to your financial health
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Why do you think credit scores reward borrowing instead of saving money? Is that fair?
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If you were designing a new way to measure financial responsibility, what would you include?
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Do you think young people should worry about their credit scores, or focus on other financial habits first? Why?
Dave Martin, Next Gen Personal Finance
