First, I want to thank all the wonderful folks that have welcomed me to the blogging world. I love the sense of community and I hope I can bring something new and unique to it.
Here are some of my favorite reads of the week.
Financial Samurai had a great post on unemployment collecting rich people. My opinion. All people should be treated equally. Just because you’re rich doesn’t mean you shouldn’t collect on benefits that you’re entitled to.
Budgeting the Fun Stuff always has a fun perspective on news. I loved her take on signs that you are in debt trouble.
Over at Yes, I am Cheap, I totally didn’t know credit card repayment plans work like this with the new laws, yikes.
My Money Blog has a great psychological money experiment to check out. Are you smarter than a monkey? Make sure you check out the follow up post to this to as the commentary is quite interesting.
Debt Ninja at Punch Debt in the Face is on his honeymoon, so it’s a whole week of guest blogs from interesting and new bloggers.
Everyday Tip’s blog is so cozy sometimes. I loved her article on nostalgic smells.
Wealth Informatics has a super detailed article on credit scores but what I got out of it really came from the first paragraph. They aren’t just used for getting loans and credit cards. Now employers are using them to screen candidates too.
Do you think someone with a bad credit score should automatically written off as a bad employee?
{ 5 comments… read them below or add one }
Welcome to the blogging world, and thanks for doing the round up. Do you have access to the Yakezie Google Groups? If not, shoot me your e-mail.
We’re launching Yakezie.com on Aug 16th, and we’re going to do some member posts.
I think that potential employees should be able to discuss any problems noted on their credit reports before automatically getting rejected for a job. It should, in my opinion, be a conversation starter, not a deal killer, though I know most employers that use this check don’t agree.
Welcome to the blogging world. I love the stories about your Babci! I lost my grandma (Babsci to me) last year after she departed this world at 95, so many of the stories you tell remind me of her.
It’s so easy to welcome someone new when their blog is great! Love your writing, please keep it up. Emotion in personal finance blogs is the holy grail for me. Thanks for the link love!
Thanks for the mention! As an immigrant myself, I can relate a lot with your posts! Welcome!
A lot of companies do credit check as part of background check. If there is a legitimate reason that the credit score might be bad, it is possible to explain it when they give that paper to sign for background check I suppose. Though it is not always clear that credit check will be a part of that or not (in mine it just said “credit check might also be a part of background check”). Apparently by law, they can even pull credit report/background even for promotions and stuff. If they are going to fire someone for that, only then, they have to give an explanation on “why” they made this decision based on credit and also give them a credit report. This is my understanding.
(Illinois actually signed a law yesterday 🙂 to make it illegal to pull credit report for employment purposes)
Do you think someone with a bad credit score should automatically written off as a bad employee?
No, I believe the “bad credit score” = “bad employee” is a spurious relationship. I’d rather judge a person on their credentials and during an interview.