PAYING ATTENTION IN DEBT MANAGMENT

 Tom(not real names lost his land title to a loan shark. This was because he had a pressing issue and could not wait. He borrowed money and signed the loan forms without reading the details. The loan agreements stipulated that when he failed to pay the funds in time he would lose his land. and indeed this is what happened. As a financial literacy practitioner I have witnessed such events . 

We live in a society that wants everything instantly. This is especially the case among young people. Through the instant desire to get money very fast they have made financial blunders. What does this call for? It calls for paying attention to details. Every detail in finances matters. For example understanding the terms and conditions of the loan is very important. It is the right and duty of the customer to ask the loan provider to explain the terms and conditions of the loan. Before taking a loan it is important to know whether the company one is dealing with is registered.

Financial literacy training aims at equipping the public with skills of negotiating good loan terms.


Phillip Kiryowa

Finance and Leadership Coach

+256752615916

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