If you have poor credit, you could pay much more to borrow through higher rates, or you might not be able to borrow at all. Financial mismanagement and poor credit could prevent you from renting an apartment or possibly even from getting a job.
Why should you care?
The monetary system, finance and banking are relevant to you because it affects your daily life and long-term security for the following reasons:
To make money, you need to know how money works.
Know the language of money!