The journey out of debt
Understand how credit works and how to take control of debt with a low income.
Time frame: 60 min
LEARNING OBJECTIVES FOR PARTICIPANTS:
- learn what credit is and how it works
- understand the difference between good debt and bad debt
- the cost of debt, particularly bad debt and only making minimum payments
- how payday loan companies operate and the cost of borrowing from them
- understand how debt can pile up and how this can have negative consequences on future financial plans
- learn how to take control of debt, including assessing the amount of debt, debt repayment options, dealing with creditors, and collection agencies and rules
OUTLINE:
- how credit works
- benefits and risks
- cost of buying on credit
- payday loan companies
- how debt accumulates
- how to take control of your finances (dealing with debt)
- resources
- Q & A
QUESTIONS?
For answers to your questions, please email us.
Proudly sponsored by Canada Life, our National Development Sponsor.
WANT A SESSION IN YOUR AREA?
We will provide a CPA volunteer to lead the session with a prepared presentation, activities, handouts and worksheets. Note: If more than one session is needed, please fill out a second form and submit.
Request guidelines:
- 12 weeks’ notice needed to setup a session.
- Requests must be submitted by the request deadline.
- If more than five sessions are needed, please contact us directly.
For more information, visit setting up a financial literacy session.