1. Credit cards
Debts

2. Money that is owed or due to a person or organisation
Money that is owed or due to a person or organisation. Debts owed by individuals can be: car loans, mortgage loans or credit card debt. It is implied that the amount due will be reimbursed at a specified date.
What is debt?

3. Not all debt is terrible, but it can accumulate quickly
Not all debt is terrible, but it can accumulate quickly! With high interest rates and minimum payments, it can quickly become difficult to overcome.
Always check how much your minimum payments will cost.
Check the difference between your debt and your savings.
Is debt a “bad” word ?

4. Control your debts Some people have lots of credit card debt.
Some debt is good
Taking loans for a house or for going to school makes sense. Make sure not to borrow more than you can afford or reimburse. Find the best rate.
Some debt is bad.
Don’t use your credit card to pay for things that are going to accumulate or that you cannot pay off the following month.
Control your spending.
Write down all your expenses and remove anything that you don’t need. Start saving!
Control your debts

5. Reimburse your debts fast with the maximum interest!
The key for escaping debt effectively is by paying the balance of your loans and credit card with the most interest and by paying at least the minimum.
Don’t fall into the trap.
If you only pay the minimum of your credit card ($10), you will never repay your debts. It will take you years to repay and you will be spending more money on interest.
Control your debts

6. By using them wisely, credit cards are very convenient
By using them wisely, credit cards are very convenient. You can purchase items and repay later.
Pay attention to your spending. Minimum payments are $10, therefore interest can skyrocket fast.
Credit cards

7. Credit cards Key points:
Annual fees. Some credits cards come with an annual membership fee. Others do not.
Balance due. The amount you must pay before interest. This includes: non-paid balances, new purchases, interest, late fees or annual fees.
Credit limit. Amount available. This can be modified and is left at your discretion.
Credit cards

8. Credit cards How to choose a credit card?
Credit cards

9. Compare other characteristics
Compare other characteristics. loyalty points, cash back, air miles, insurance…
Choosing a card

10. Never buy anything you cannot pay back in the same month!!!!