What is Debt?

The video tutorial explains the concept of debt using a story about sweets. It covers the difference between secured and unsecured debt, the importance of managing debt responsibly, and tips for avoiding debt. The tutorial also discusses credit card usage, emphasizing the need for budgeting and self-control to maintain financial stability. The video concludes with a light-hearted note on receiving gifts without incurring debt.

What advice did the mother give about staying out of debt?

Why is it important to make a monthly budget according to the text?

What lesson did the child learn about receiving something for free?