Chapter 7.3

Master Credit and Debt Management for Financial Success

Learn essential skills for managing credit, building strong credit scores, and making informed borrowing decisions that support long-term financial health.

What You'll Learn

Students learn different credit products and their specific features
Credit scores measure borrowing reliability and influence lending decisions
Interest rates and compound interest significantly affect borrowing costs
Debt management strategies help maintain long-term financial health

What You'll Practice

1

Compare secured versus unsecured debt interest rates and risks

2

Calculate credit utilisation ratios and debt-to-income percentage measurements

3

Evaluate Canadian credit products including payday loans and HELOCs

Why This Matters

Mastering credit and debt management provides essential life skills for making informed financial decisions and building long-term economic stability.

This Unit Includes

Practice exercises
Learning resources

Skills

Credit Management
Debt Strategy
Financial Literacy
Interest Calculation
Credit Scores
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