Introduction
 
Every borrower must understand that the key to trusting relationship with the bank is the timely repayment of the loan but majority of people find themselves in trouble after going beyond their budget.
 
Who should take this course?
 
This course is beneficial for students – who want to learn about debt management and about credit cards, job holders – who are interested in knowing the ways to reduce credit card debt and business men – who want to know best possible means to borrow money for their business purpose.

What are the benefits of the course?
 
After completing this course, you will be able to know:
 
- How to avoid debt?
- What to do immediately when you are in debt?
- How to use the credit card efficiently and effectively?
- How to reduce credit card debt
- The best possible legal means through which you can borrow money
 
Table of contents:
 
- Introduction
- MoneySENSE core financial capabilities
- Examples on how you can reduce credit card debt
- Working on your own ratios
- Notes: How much debt you can afford
- Common debt collection process
- Do’s and don’ts when you are in debt
- Options at hand when you are in debt
- If you need to borrow
- Understanding your credit card statement
- Lending to friends and relatives
- Bankruptcy as a last resort
- Signs of a possible gambling problem
- Conclusion
 
Author bio:
 
This convenient guide has been designed and prepared by Alex Lum - who is currently working as a director at MoneySENSE-Singapore Polytechnic Institute for Financial Literacy, Christopher Tan – Information Technology manager at Singapore Polytechnic Institute for Financial Literacy and Peggy Chan PY – who has served eight years in the financial industry, helping people to get financial assistance from different financial institutions.