About This Course
Overall, debt is considered to be a bad thing and something that should be avoided at all costs. Literally. However, there are certain scenarios in which debt can be a good thing, such as credit and maintaining a good credit score. This course discusses the downside AND upside of debt.
Offered by
Nedbank MoneyEDGE
What You Will Learn In This Course:
01. Introduction: What do honestly think about debt
02. Debt is bad – sometimes. But there is power in a good credit record
allocated module duration : 15 minutesBeing in debt isn’t ideal, but it’s not the end of the world. Sometimes credit can have a positive effect on your financial well-being.
03. What to consider before borrowing money
allocated module duration : 15 minutesBefore you apply for any loan, think your decision through carefully. There are many things to consider, such as your current credit score, interest rates and your debt-to-income ratio score.
04. How to calculate your debt-to-income ratio
allocated module duration : 15 minutesA debt-to-income ratio plays a significant part in the process of applying for a loan. In essence, it is your monthly gross income measured up against your debt repayments.
05. Good debt vs bad debt
allocated module duration : 15 minutesKnowing the difference between good debt and bad debt can put your finances into perspective and have dramatic implications. Make sure you are informed of the differences before borrowing money or applying for a loan.
Learn
How to differentiate between good debt and bad debt.
Average Time
It takes about one hour to complete this course.
Learning Outcomes
- I understand why some debt is good.
- I know what to consider before borrowing money
- I know how to calculate a debt-to-income ratio.
- I know the difference between good and bad debt.
