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Even more than savings, debt is freighted with moral baggage. We even use two different words for the same thing: credit and debt. When you apply for a loan, you fill out a credit application, while lenders make a decision to give you money based largely on your credit score. The most common borrowing vehicle for Americans is a credit card. If instead the process involved filling out a debt application, checking our debt score, and using a debt card, many of us might consider our actions differently.
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Jonathan Morduch (The Financial Diaries: How American Families Cope in a World of Uncertainty)