Financial Literacy and Budgeting
www.csmd.edu/costs-aid/financial-literacy/index.html
1 Users
0 Comments
2 Highlights
0 Notes
Tags
Top Highlights
Borrowing lets people afford things they wouldn’t otherwise be able to, by providing them with the money they need upfront and offering the option to pay for it over time. This applies to things like car loans, credit cards, mortgages, and student loans.
The word debt often has negative connotations, but debt isn’t (inherently) bad; it’s just misunderstood. Debt simply means owing someone money, with an agreement to pay the amount that’s owed. Consider this: When you work, your employer is in debt to you until they pay you the wages you’ve earned. Debt isn’t the problem—runaway debt is. You can avoid the stress of runaway debt by being smart about how you borrow and repay money you owe.
Ready to highlight and find good content?
Glasp is a social web highlighter that people can highlight and organize quotes and thoughts from the web, and access other like-minded people’s learning.