Assignment Instructions: Analyze advantages and disadvantages of using consumer credit.
• Importance of Identifying and analyze debts. What type of assets secure debts? What assets do debts finance? What determined having debts? What risks can be undertaken by being in debt? How can being in debt help build wealth?
• What is a default risk? How would a lender evaluate you based on “the five C’s” of character, capacity, capital, collateral, and conditions? How could someone plan to make themselves more attractive to a lender in the future?
• Discuss the Tim Clue video on debt at https://www.youtube.com/watch?v=I5bbvMR8Ee4. What makes this comedy spot funny? What makes it not funny? What does it highlight about the appropriate uses of debt?
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