At some point in every adult's life, they may borrow money to buy a house, buy a car, use a credit card, take out a student loan, etc. Institutions or companies who lend money charge interest for the use of the money over the period of time it is borrowed.

Questions:

1. What are some things that every borrower needs to be conscious of when taking out loans?
2. What are some ways that you can reduce your debt?
3. What are the consequences of poor financial management regarding loans, interest rates, and high credit balances?