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CreditIntermediate

Loans and debt: borrow wisely

Work out a loan’s real cost, spot the traps and act wisely in hard times

5 lessons 37 min 120 XP Certificate
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Credit can be a useful tool — but only if you understand how it works. In this course you’ll learn how interest is calculated, the hidden cost of “0%” installments, what a credit history is, the common debt traps and what to do if you can’t pay. It includes real-life examples, a loan calculator and practical exercises.

Course programme

  1. 1
    How interest works and what a loan really costs
    Nominal vs. effective rate, fees, add-on insurance, annuity payments and how to work out the total overpayment.
  2. Installments and “buy now, pay later”
    The hidden cost of “0%” installments, markups built into the price, buy-now-pay-later services and what happens if you pay late.
  3. Credit history: your financial reputation
    What credit history and a credit bureau are, how they affect future loans, how to check yours and why guaranteeing someone’s loan makes it your debt.
  4. Debt traps
    Quick loans, paying one loan with another, the debt spiral and how much of your income all debt payments should stay within.
  5. When you can’t pay: a plan to get out of debt
    Talking to the lender before you fall behind, restructuring, the “avalanche” and “snowball” methods, debt collectors and your rights.
The first lesson is open without sign-up. Register to unlock the rest and save your progress.Start for free
Loans and debt: borrow wisely