Having a good credit score makes life easier. You can borrow money easier than someone who has bad credit (if you really want to do that), you will have an easier time renting, you might pay less for insurance, you don’t have to worry about employers or potential employers labeling you or not hiring you if they run a credit check, etc., etc., etc. There are many perks to having a good score. However (and it is a BIG ONE), what is the REAL value of having a good credit score? I devoted an entire chapter of my book to this topic, titling the chapter, “I Don’t Care About Your Credit Score…and You Shouldn’t Either” to make it obvious my stance on the issue (and to rile up a few people who want to argue the point).
I do not care if you have good credit or bad credit because credit is not the target I’m aiming for. I’m aiming for freedom. [Read more…]