Managing Debt

Find out ways of avoiding debt. If you are already in debt, find out about all your available options.
Rating: 4.2 out of 5 (295 ratings)
13,462 students
Managing Debt
Rating: 4.2 out of 5 (295 ratings)
13,462 students
Learn how to manage credit card debt
Learn how to borrow money legally
Learn more about bankruptcy

Requirements

  • Internet access
  • Computer or Smart Phone
  • Basic knowledge of spreadsheets
Description

Many people borrow money at certain points in their lives, usually when their savings are not enough to pay for “big-ticket” items such as a HDB flat or a car. In such cases, borrowing money to buy important items like a home may be necessary.

Borrowing is also a major responsibility as too much debt can easily get us in trouble. The number of persons seeking counselling for debt issues is already increasing every year, and credit card debt in Singapore is one of the fastest growing forms of debt which has grown at an average rate of 11.5% a year (Credit Bureau Report 2011).

Learn about how to avoid the debt trap. If you are already in debt, find out all your available options:

  • What to do immediately when you are in debt?
  • How can you reduce your credit card debt?
  • Working out your financial ratios.
  • Do's and Don'ts when you are in debt.
  • Bankruptcy as a last resort.
  • Find out the best way to borrow money legally.

Learn how to work out your own financial ratios to see if you are borrowing to much. Learn how to reduce your credit card debt and calculate how much debt you can actually afford.

Find out what you can do if you are already in debt in order to choose the best possible option. Also, learn how to borrow money effectively and wisely. Handle your credit card statements well.


Who this course is for:
  • Working Adults
  • Students
  • Anyone interested in managing debt and personal finance
Curriculum
5 sections • 20 lectures • 50m total length
  • Introduction
  • MoneySENSE Core Financial Capabilities Framework
  • How To Avoid Debt
  • Example On How Your Credit Card Debt Can Be Reduced
  • Working Out Your Own Ratios
  • Notes: How Much Debt Can You Afford
  • Use Your Credit Cards Wisely
  • Amrin Amin speaks on the Importance of Financial Literacy
  • What To Do Immediately When You Are In Debt
  • Notes: What To Do Immediately When You Are In Debt
  • Common Debt Collection Process
  • Do's and Don'ts When You Are In Debt
  • Options When In Debt
  • If You Need To Borrow
  • Understanding Your Credit Card Statement
  • Lending To Friends And Relatives
  • Bankruptcy As A Last Resort
  • Signs Of A Possible Gambling Problem
  • Conclusion
  • How to you fare on the debt-o-meter?!
  • Additional Resources

Instructors
Financial Literacy Trainer
Peggy Chan
  • 4.1 Instructor Rating
  • 5,211 Reviews
  • 81,348 Students
  • 14 Courses

Peggy Chan, Financial Literacy Trainer, Institute for Financial Literacy

MSc, CFP

Peggy has 8 years of experience in the financial services industry, helping clients understand their financial needs, objectives and risk tolerance as well as reviewing company policies and procedures to ensure compliance. She was also an adjunct lecturer with a Polytechnic, teaching insurance and retirement planning subjects.

Prior to joining the financial services sector, Peggy was working in the information technology sector for 13 years, first in a government agency and subsequently served as a Senior Systems Analyst in an international bank.

She is a Certified Financial Planner, which is a professional certification specific to retirement planning and wealth accumulation in addition to overall financial planning.

Peggy has a Masters of Science, majoring in Network Management. She also holds other industry certification in M5, M8, M8A, M9 and HI.

Unbiased Financial Education Courses
Institute for Financial Literacy
  • 4.1 Instructor Rating
  • 7,878 Reviews
  • 111,582 Students
  • 26 Courses

The MoneySENSE-Singapore Polytechnic Institute for Financial Literacy is a collaboration between MoneySENSE, the national financial education programme in Singapore and Singapore Polytechnic.

MoneySENSE is spearheaded by the public-sector Financial Education Steering Committee which comprises representatives from the Ministry of Health, Ministry of Social and Family Development, Ministry of Education, Ministry of Manpower, Central Provident Fund Board, Monetary Authority of Singapore, National Library Board and People’s Association.

Our financial education courses cover basic money management, financial planning and investment know-how.