Basics of Debt
We live in a country where inflation is still well above average wage growth and we have a dire unemployment rate and financially literacy rate, South Africans are more in debt than ever! In this PocketFin course we discuss the basics of debt, good debt vs bad debt, the effects of getting into too much debt and everything in between. We hope that this PocketFin course opens your eyes to how important it is to make calculated financial decisions when it comes to your lifestyle, budget and the potential credit options that are offered to you in your financial life no matter how young or old!
Chapter 1 : Introduction to debt
In this chapter, we discuss what debt is and why so many South African’s s struggle with debt, we also touch on interest rates and why this plays an important role in any debt that someone takes on.
Chapter 2 : Good debt vs bad debt
Whilst many say there is no such thing as good debt, there are certain debts that can be used to grow your financial wealth, it is incredibly important that we identify the difference between good debt and bad debt and become aware of the importance of understanding these two and the examples of each.
Chapter 3 : Effects of getting in too much debt
In this chapter, we discuss the effects of getting into too much debt, credit scores and the topic of debt consolidation.
Chapter 4 : Conclusion
Let’s wrap up this PocketFin course and recap on what we have learnt about with regards to the basics of debt-explained!
Course Curated By:
Founder and CEO of Lead Young SA Foundation
Tebogo is an aspiring CA and the Founder and CEO of Lead Young SA Foundation. The Foundation is aimed at empowering young people across South Africa through various initiatives. She is a GIBS (Gordon Institute of Business Science) Alumni through their “Spirit of Youth” Programme. The Spirit of Youth programme is a forum in which top students across the country critically are selected from various schools to engage on relevant issues so that they may better define and actuate the South Africa in which they would like to live. Tebogo is a “LeadSA Future Leader” ambassador. In 2018 she was awarded the “Global Youth” Award in the ‘Empowering Everyone – Demonstration of Leadership’ category. She was also nominated for the “Woman Of Stature, Woman Of The Year 2018 Award ” in the Youth Ambassador category
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