A recent jsonline story reports that Wisconsin has the third highest average credit scores in the country. Our average score of seven hundred thirty-seven is tied with Vermont and just five points below first place Minnesota. That means many people in our state are handling their credit well, to their and their family’s benefit. This is especially noteworthy at a time when gas prices are high, the cost of groceries has increased substantially, interest rates are prohibitive to many, and the overall economic picture is at best uncertain.
This news offers a great teachable moment for families. Consider talking with your children about credit and interest and basic principles for using credit wisely and understanding interest rates in practical ways. If you’re one with a good credit score, why not use that as an example of good financial stewardship? Helping the next generation handle money well is an excellent investment!
