Is there an answer to whether increased body hair while taking finasteride is good or bad in terms of keeping scalp hair?

The increased body hair is a possible side effect of the medication. In this sense, if it doesn’t bother you, then its neither good nor bad. If there is hair in undesirable areas, consider laser hair removal to those areas for a more permanent solution. Over time, your body will likely respond very well to the medication since you’re already noticing some of its effects. 

Finasteride  lowers DHT. Body hair is controlled by DHT. The majority of people will have a decrease in body hair  on finasteride, although an increase in body here has been reported in rare cases. Neither should be a cause for concern. Good luck.Jeff Rapaport MDRealself All-star

Thanks for your question.  Finasteride does not provide protection to the genetically susceptible follicles until after the first three months of use.  Since you have only been using it for 1.5 months your scalp hair thinning shouldn't be of any significant concern.  Just continue to use it.  I was not previously aware that finasteride had any impact on follicles that were not susceptible to androgenetic alopecia, i.e. your permanent scalp follicles, beard, or body hair. In 20 years of practicing Hair Restoration, I have never before encountered this with a patient, nor read about this potential side effect.  But several other commentators stated that this can occur.  I'll have to investigate this on my own.  I guess we all continue to learn from each other.  Best regards,  Robert J. Reese, DO, FISHRS.  Past - President:  ABHRS.

You should stick to the finasteride as it will eventually help you hold on to your scalp hair; however, in your situation it increased your body hair and this is a known side effect