© Annie Patton Debt Next Slide. © Annie Patton Aim of Lesson To learn what debt is, plus how to avoid getting into debt and how to deal with it. Previous

© Annie Patton© Annie Patton

DebtDebt

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Aim of LessonAim of Lesson

To learn what debt is, plus how to To learn what debt is, plus how to avoid getting into debt and how to avoid getting into debt and how to deal with it.deal with it.

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DebtDebt

One is in debt, when they owe One is in debt, when they owe something to someone or to a something to someone or to a business.business.

Debt becomes serious when you are Debt becomes serious when you are unable to pay that person or unable to pay that person or business on time.business on time.



Reasons for DebtReasons for Debt

IllnessIllness UnemploymentUnemployment A drop in incomeA drop in income Increased expenditureIncreased expenditure Just not enough money to meet your Just not enough money to meet your

lifestylelifestyle Relationship breakdownRelationship breakdown



How does one help their How does one help their financial position, even if not in financial position, even if not in

debt.debt.

Click here to see what the site below says about this.

http://www.citibank.com/us/cards/cm/cntrol04.htm





Summary of how to help your Summary of how to help your financial position even if not in financial position even if not in

debtdebt Make your own lunch and avoid Make your own lunch and avoid

eating out if possible.eating out if possible. Use energy saving bulbs and switch Use energy saving bulbs and switch

of when not in use. of when not in use. Have breakfast at home.Have breakfast at home. Avoid your regular treat.Avoid your regular treat. Give up smoking. Give up smoking.



How can one avoid debt?How can one avoid debt?

Click here to learn some ways to

avoid debt.

http://www.citibank.com/us/cards/cm/ht06.htm





Summary of how to help avoid Summary of how to help avoid debt.debt.

Sale items are not a bargain, if you did not Sale items are not a bargain, if you did not need them in the first placeneed them in the first place

Consider do you really need those luxuries. Consider do you really need those luxuries. Buy a second hand car from a reputable Buy a second hand car from a reputable

garage.garage. Check bills for errors. Check bills for errors. Do your own ironing and gardening. Make Do your own ironing and gardening. Make

shopping lists and stick to them. shopping lists and stick to them. Compare prices before making big purchases.Compare prices before making big purchases. Buy used items and seconds when practical. Buy used items and seconds when practical. Wear clothes until they wear out. Wear clothes until they wear out.



What can one do if they find What can one do if they find themselves in debt?themselves in debt?

Assess the situationAssess the situation BudgetBudget Deal with the debtDeal with the debt Make payments Make payments



Who can help? Who can help?

(Money, Advice and Budgeting (Money, Advice and Budgeting service) MABS this is a organisation service) MABS this is a organisation with offices in many towns and cities with offices in many towns and cities that offer financial advice.that offer financial advice.

Do the Debt quiz to learn more about Do the Debt quiz to learn more about them.them.


Debt Quiz


The endThe end

What is the best way to avoid debt?What is the best way to avoid debt?

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© Annie Patton Debt Next Slide. © Annie Patton Aim of Lesson To learn what debt is, plus how to avoid getting into debt and how to deal with it. Previous