re: Why are people so secretive about their salaries?

quote:

---

A better measure of a persons financial status is their credit report.

---

Credit reporting does not reflect on ones financial status, it is a reflection on how one manages debt. A person who has a paid for house, paid for cars, paid for toys, etc etc is in a better financial position than someone with a $350k mortgage, 70k truck loan, 70k car loan for the wife, 30 year $100k boat loan.. etc etc

Also, there really needs to be a mechanism to mitigate the damage of a medical emergency and how it damages your credit score. Even with health insurance, even a short term medical emergency can cost tens of thousands if not hundreds of thousands of dollars plus you factor in lost income, it can give someone credit hell for 7 years. People might even have disability insurance to cover, but they don't pay out fast, if at all, with all the loopholes they have.

quote:

---

A better measure of a persons financial status is their credit report.

---

Wrong