Transcript Debt Lessons

Ignorance
Ignorance: defined as the state of being uninformed
or the lack of knowledge, education and awareness
Someone said: “The greatest ignorance is to
reject something you know nothing about”.
!!!!Don’t be financially ignorant!!!!
Eurozone debt web: Who owes what to whom?
The circle below shows the gross external, or foreign, debt of
some of the main players in the eurozone as well as other big
world economies. The arrows show how much money is owed
by each country to banks in other nations. The arrows point
from the debtor to the creditor and are proportional to the
money owed as of the end of June 2011. The colours attributed
to countries are a rough guide to how much trouble each
economy is in.
Gross domestic product (GDP) refers to the market value of all
final goods and services produced within a country in a given
period. GDP per capita is often considered an indicator of a
country's standard of living.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
The arrows show how much money is owed by each country to banks in other nations.
The arrows point from the debtor to the creditor.
7 Reasons why countries are in debt
1. Never intending on putting God first
2. Spending beyond their means
3. Using debt to fund debt
4. Hiding the truth of real debt owing
5. No saving strategy
6. Buy now, pay later mentality
7. Easy bankruptcy options for people in debt
What can we learn from this?
1. Put God first in your finances
2. Learn to save, it will help you in the future
3. Patience is truly a virtue; learn to wait
4. Don’t jump on the easy cash; Loan offers
5. Use this model: “pray for it, work for it and save
for it”.