What is debt? Debt is the amount of money someone owes, that they have borrowed from both formal and informal sources, which they must pay back with interest, as compensation to the lender. “Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. […]
What everyone ought to know about personal finance
Personal finance is the management of ones money including: budgeting, saving, spending, investing and insuring while taking into account external influences and risks which one experiences at different stages in the personal life cycle. Why is personal finance important? Personal finance is important because it can save you from a lot of trouble such as […]
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