Financial Talk CHS F6

What are the cause of Bankrupctcy?

• Personal Loan

• Credit Card Indebtedness

• Owning a house

• Lending Money

Which age group has the highest Bankruptcy case?

• Under 25 years

• 25-34 years

• 35-44 years

• 55 years and above

What is the main factor leading to Bankruptcy?

• Personal Loan

• Housing Loan

• Credit Card Indebtedness

• Business Loan

What are the disadvantages of Bankruptcy?

• Damage to credit score

• Free from debt

• Emotional Stress

• Lost of assets

What are the better ways to avoid Bankruptcy?

• Create a budget

• Build an emergency fund

• Lend money from friends

• Seek professional help

What are the benefits of credit card?

• Offer fraud protection

• Offer rewards programs

• Accepted at most retailers

• Can help you stick to budget

What are the advantages of using a debit card?

• Often free to use

• Accepted at most retailers

• Overdraft fees are cheap

• Has a better fraud protection

• Able to stick to budget

What are the disadvantages of part-time job?

• Limited earning potential

• Limited opprtunities to learn and develop new skills

• May not offer job security or stability

• Not able to build a resume

What are the services provided by SOSCO?

• Employment injury insurance

• Financial assistances

• Housing withdrawals

• Investment options

What are the ways to create a financial plan in our daily life?

• Set Financial goals

• Create a budget

• Save regularly

• Build an emergency fund

• Invest