Managing Debt
3.6 (48 ratings)
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Managing Debt

Find out ways of avoiding debt. If you are already in debt, find out about all your available options.
3.6 (48 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
5,137 students enrolled
Last updated 11/2016
English
Price: Free
Includes:
  • 41 mins on-demand video
  • 3 Articles
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Learn how to manage credit card debt
  • Learn how to borrow money legally
  • Learn more about bankruptcy
View Curriculum
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 is the target audience?
  • Working Adults
  • Students
  • Anyone interested in managing debt and personal finance
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Curriculum For This Course
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Introduction
2 Lectures 02:57

The objectives are laid out in this lecture.

Introduction
01:24

In this Lecture, find out more about MoneySENSE's core financial capabilities:
  • Understanding Money
  • Understanding yourself, your rights and responsibilities
  • Managing everyday money
  • Planning ahead
  • Selecting financial products
MoneySENSE Core Financial Capabilities Framework
01:33
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How To Avoid Or Reduce Debt
5 Lectures 12:15

Important considerations before taking up a loan or becoming a guarantor.

How To Avoid Debt
04:44

This example illustrates a monthly repayment breakdown of  a credit card loan.
Example On How Your Credit Card Debt Can Be Reduced
01:34

This is a guided activity to work out your own debt servicing ratios.

Working Out Your Own Ratios
03:39

In this lecture, we provide notes on financial ratios that can help you determine how much debt you can afford.
Notes: How Much Debt Can You Afford
00:40

Use Your Credit Cards Wisely
01:38
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Options You Can Take When You Are In Debt
5 Lectures 12:18
This lecture discusses a systematic way for reducing debt.
What To Do Immediately When You Are In Debt
02:39

In this lecture, we provide notes on what you should do immediately when you are in debt.
Notes: What To Do Immediately When You Are In Debt
00:34

An in-depth look into the typical debt collection process through civil action.

Common Debt Collection Process
03:53

If creditors are already pursuing repayment, the debtors' cooperation is vital in order not to land them in more trouble. Here are the do's and dont's. You can add your own to the list using the file in the supplementary material.
Do's and Don'ts When You Are In Debt
01:10

Besides reducing debt systematically, here are other options you may consider for managing debt. It also contains a segment on a scheme to avoid bankruptcy for those who are eligible.
Options When In Debt
04:02
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Borrowing And Lending Money
3 Lectures 09:48
Borrowing from legal means, otherwise it may bring untold anxiety and grieve to you and your loved ones.
If You Need To Borrow
03:06

This lecture familiarises you in the common terminology used in credit card statements.
Understanding Your Credit Card Statement
04:44

If you wish to recover money lent to friends and/or relatives, here is some advice on how you can go about it.
Lending To Friends And Relatives
01:58
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Conclusion
4 Lectures 05:32

The status of bankruptcy is burdensome, not to mention the public stigma. It is not an easy way out of debt, this lecture tells you why. 

Bankruptcy As A Last Resort
02:07

Problem gambling can lead a mountain of debt, here are some tell tale signs that a problem is at hand. 
Signs Of A Possible Gambling Problem
02:20

A summary of the what was covered in the course.
Conclusion
00:36

Test how well you can avoid or manage debt responsibly.
How to you fare on the debt-o-meter?!
5 questions

This lecture contains links to additional resources where you can learn more about money matters pertaining specially to Singaporeans.
Additional Resources
00:29
About the Instructor
Peggy Chan
3.9 Average rating
915 Reviews
32,777 Students
13 Courses
Financial Literacy Trainer

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.

Institute for Financial Literacy
3.9 Average rating
1,359 Reviews
45,842 Students
24 Courses
Unbiased Financial Education 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.