100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Debt / Credit Repair - PERSONAL FINANCE - Lecture 4 notes £2.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. London South Bank University (LSBU)
  4.  
  5. London South Bank University
  6.  
  7. Personal Finance (BAF6PFI)

Lecture notes

Debt / Credit Repair - PERSONAL FINANCE - Lecture 4 notes
 3 views  0 purchase

Personal Finance is an option module for students studying Accounting and Finance. This document covers: background on debt, Bank of England, inflation post-Brexit, problem debt, debt advice, liberalisation of financial services, secured versus unsecured debt, types of credit, types of lenders, com...

[Show more]
Last document update: 3 year ago

Preview 1 out of 9  pages

Document information

  • May 28, 2021
  • May 28, 2021
  • 9
  • 2020/2021
  • Lecture notes
  • -
  • Debt

Subjects

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

All for this textbook (13)

Written for

All documents for this subject (13)

Seller

avatar-seller
SupplementaryStudyNotes

Reviews received

Content preview

Module: Personal Finance


Lecture 4 – Debt


Learning Objectives
 The role of debt in society and economics
 The wide variety of lending products available
 The relative cost of different forms of borrowing
 The different circumstances when borrowing might be sensible or
inappropriate


Why do it?
It allows you to manage expenditure to match your needs.

There is a relationship between debt, borrowing credit and accounting.

Dr Expenses or assets
Cr Loan

A business will get a loan in order to grow their business.

People get loans to increase their assets or get it for expenses.


Developments in 1990s and 2000s
 Total household debt to income level peaked at about 150% in 2007
 Income had expanded but debt levels increased at an even higher rate
 Rising house prices encouraged homeowners to take out second mortgages
 Use of unsecured debt to fund holidays and special occasions rather than
using savings
 Often for home improvements
 Greater use of credit cards
 Consumers have continued to borrow more and more outside of essential
borrowing
 Essential borrowing: mortgage, student loan etc. It is where you take out a
loan to better yourself.




Bank of England

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller SupplementaryStudyNotes. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £2.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75323 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£2.99
  • (0)
  Add to cart