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You and your money
An important aspect of personal finance is the way individuals and households manage...
An important aspect of personal finance is the way individuals and households manage their debt, how much it costs and the different types of credit they can or cannot access. This unit explores these issues, with respect to the wider, changing, social and economic context.
By the end of this unit you should:
- have knowledge of the structure of the financial services industry and the role of financial liberalisation in shaping this industry
- understand the basics of debt and interest
- have an appreciation of different forms of unsecured lending
- be able to apply the financial planning model to the borrowing process.
- Current section: Introduction
- Learning outcomes
- 1 Debt
- 2 Exploration of debt
- 3 Debt costs
- 4 Debt and household finance
- 5 The borrowing process
- 6 Conclusion
You and your money
This unit is an adapted extract from the Open University course. It focuses on debt and borrowing. This is an important aspect of personal finance as it ties in with the broader context of how debt can be used in the economic system to channel growth but at the same time involve risks for indebted individuals.