Own your financial future: Managing debt and making credit work for you
Session Objective
Understand credit and learn how to take control of your finances.
Learning Outcomes
- understand what credit is and how it works
- learn how debt can pile up and have negative consequences on future financial plans
- understand the difference between good debt and bad debt, and the value of having a good credit rating
- learn practical ways to take control of finances
Session Outline
- how credit works
- how debt accumulates
- opportunity cost
- good debt vs bad debt
- what you need to know about credit ratings
- how to take control of your finances before they take control of you
- resources
- Q&A
Learning Materials
- Understanding Your Credit Score — explains credit history, credit reporting and credit score
- Defining Your Financial Goals — helps define and set financial goals for the next several years
- Take a Situational Selfie — helps understand current financial situation by looking at budget activity
- Balancing Your Budget — helps find unnecessary expenses and how much can be saved by cutting them out
