Credit Cards Re-Imagined: Could Credit Cards Actually Promote Financial Wellness
York, Joseph (2020) Credit Cards Re-Imagined: Could Credit Cards Actually Promote Financial Wellness. [MRP]
Item Type: | MRP |
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Creators: | York, Joseph |
Abstract: | What parts of modern American life aren’t influenced by money? It mediates the relationship between individuals and nearly every domain - to nature, health, education, art, social justice, religion. It is nearly inescapable within the context of everyday life. Given its ubiquity, money is naturally complex. At its best, it can serve as a tool in the pursuit of life’s greatest satisfactions. At its worst, it becomes a preoccupation that serves as an impediment to those same dreams. Credit cards amplify the stakes further. The right loan can enable a business or individual to climb to previously unimaginable heights. If mismanaged, over-borrowing can lead to crippling debt. The negative dimensions of modern financial life can be hard for individuals - especially members of the middle class - to articulate. Experienced first-hand, they seem abstract and hazy. People feel a vague sense of dissatisfaction, unable to attribute it to specific This paper explores the financial haze many Americans find themselves caught in. Based on a comprehensive review of secondary sources and a new body of primary research, the author argues that the haze is a result of a swirl of forces so large, they become difficult to contemplate. They operate at the level of economic, societal, and It takes a holistic evaluation of the forces at play to plot an alternate course out of the money haze. A more holistic understanding illuminates a pathway from hazy unconsciousness to individual financial empowerment. Using credit cards as a representation of the system’s most complex paradoxes, the author proposes a reimagining – one that challenges some of the most basic assumptions that underlie a broken system. |
Date: | 11 May 2020 |
Uncontrolled Keywords: | Credit cards, lending, borrowing, financial wellness, money, money coaches, consumer, debt, financial inclusion, philosophy of money |
Divisions: | Graduate Studies > Inclusive Design |
Date Deposited: | 12 May 2020 13:17 |
Last Modified: | 20 Dec 2021 21:15 |
URI: | https://openresearch.ocadu.ca/id/eprint/3009 |
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