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Debt

Debt. What happens if you don’t pay your bills? Test ? 3 What is Debt? Name three problems it causes. Debt. Debt is something that is owed or that one is bound to pay to or perform for another

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Debt

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  1. Debt What happens if you don’t pay your bills? Test ? 3 What is Debt? Name three problems it causes.

  2. Debt • Debt is something that is owedorthatone is bound to payto or performfor another • On an average, a US household has taken up $149,782 for mortgage debt, $34,703 for student loan and $15,328 for credit card debt.

  3. Living Debt Free • http://www.hulu.com/watch/1389 • Living Debt Free or paying off your credit monthly is ideal • From the Video Saving for things we want is the best way to go, Delayed gratification is key, waiting until later to get something you really want • Don’t try to keep up with the ‘Jones’ • Goal to erase all debt and live financially secure

  4. Problems • Debt cause all kinds of problems • 9 out of 10 Marriages fight about money, can lead to domestic abuse • Court- Fraud, Bankruptcy and garnished wages • Jail for too much debt • Constant phone calls • Foreclosure or repossession of a vehicle • Living in Stress, Poverty or Worse

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