At the level of language, credit refers to purchasing something or obtaining funds with the understanding that you will pay for it later, generally with interest. In our daily lives, it can mean increased economic opportunities or the means to purchase the trappings of stability and comfort. Credit is not without its costs, however: poor or no credit can create barriers both financial and social, and can transform our self-perception for the worse. Join us as we take a closer look at one of personal finance’s great mysteries: its history, why we are so invested in it, how it fits into the economy at large, and how to best make use of it.
We want to hear from you: How do you use credit? What about credit confuses you? What’s the wildest piece of credit advice you’ve ever received? Let us know in the comments, or via twitter (@financeflipside) or email ([email protected])
The show notes are below the cut.