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​Understanding loans and credit

Loans and credits are forms of borrowing. Get an overview of why people borrow money, whom you can borrow from, what costs to look out for, and how to make better loan choices.

10 lessons, total duration 31 minutes

What you will learn

  • Understand types of loans, their features and associated costs.
  • Learn how to manage your spending better.

Who it is for

  • Working adults
  • Students
  • Anyone interested in loans and personal finance

Prerequisites

  • Basic knowledge of spreadsheets
  • Details of your own personal loans

Description

Everyone borrows money at one time or another. Usually, it's when savings alone are not enough to pay for big ticket items like a home or a car.

Borrowing money may sometimes be necessary, but too much debt can quickly get us into trouble. So before you borrow, learn everything you can about loans and credit.

Learn about:

  • Types of loans and their purposes
  • What to look out for in a loan
  • How much you can afford to borrow
  • Alternatives to borrowing

By the end of this starter pack, you'll know:

  • Features and costs of different types of loans
  • How to calculate the actual interest you will pay for a loan
  • Credit reports and how to maintain your creditworthiness

Last updated on November 05, 2018