Borrowing & Debt

“Could your child explain why borrowing money costs more than the amount you borrow, and why that matters?”

0 / 3 mastered

• ⬜Explain what a loan is and that borrowed money must be paid back with extra (interest)
• ⬜Give an example of when borrowing might be sensible (buying a house) versus risky (buying luxuries you can't afford)
• ⬜Describe what happens if someone borrows too much money and can't repay it