Power of Debt

Debt is dangerous

• Yes, cuz my momma said so.

• Yes, if you don't know what you are doing.

• No, only noob people thinks it's dangerous.

• No, tigers are more dangerous.

This is a good idea to loan money for... (2 correct answers)

• Furthering my education

• Casino

• Crytocurrency investment

• Business that I am skilled in

To obtain debt safely and intelligently , you can

• Loan from the bank

• Loan from your friends or family

• Loan from sharks

• Get credit card advance

Opportunity cost is also known as....(choose 2 correct answers)

• The price you pay when you choose the noob option

• Second best option

• Value of next best option

• Trade-off

The benefit of leverage is that

• You can utilize other available resources instead of relying on your own

• You get to be a billionaire.

• You get into a lot of debt.

• You can utilize the debts to buy that really fine Porsche

Basic Requirements to play with debt (more than 1 answer)

• Min 2 years declared income tax

• 3 months salary slip

• 3 months KWSP record

• 6 months of clean CCRIS record

Debt Service Ratio means

• Your loans over your salary

• Your car debt over your income

• Your total debt over your total income

• Your total income over your total debt

The great ways to fail miserably in building wealth throught debt is...( most than 1 answer)

• Dump all money obtained in 1 single investment

• Buy that fancy car to pick up chicks or ducks

• Do a profit-cost analysis

• Declare your income tax

Why do banks normally give out lower a loan percentage to commission-earners or freelancers?

• The banks are biased.

• Commission-earners and freelancers are considered high-risk due to their inconsistent income.

• The banks care alot about those people so don't want them to take up so much debt.

• Idk but that need to change man. So unfair.

The maximum time I can default my debt payments until I get blacklisted.

• 1

• 2

• 3

• I don't default so not applicable to me.