What Do Credit Scores Have To Do With Committed Relationships?
Answer: Apparently a lot, according to recent research from Federal Reserve (warning: this report can be tough sledding for us non-academic economists).
From New Zealand Herald:
A new working paper from the US Federal Reserve Board that looks at what role credit scores play in committed relationships suggests that daters may want to hop on board as well. The researchers found that credit scores – or whatever personal qualities credit scores might represent – actually played a pretty big role in whether people formed and stayed in committed relationships.
This could be an interesting discussion starter about the role of money in relationships, including:
- Do you believe in this relationship between credit scores and the strength of committed relationships? Why or why not?
- What do you think the primary cause of break-ups are?
- What personal qualities do you think are represented by credit scores?
About the Author
Tim Ranzetta
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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