Give me one example of a way to get rid of a debt

Your friend asks to borrow your last piece of chocolate until tomorrow. Is this a loan? Should you charge them "interest" (like, they have to give you two pieces back tomorrow)? Why or why not?

How does someone take out a loan from a bank? What's the general process?

Do you think most loans are taken out by people between 20 and 30 years old? Why do you think this might be happening?

What is a "loan"?

Jake wants to go to college. One college in his town offers him a scholarship (money to study), but he wants to move and go to a different college, which means he would need a loan. What questions should Jake ask himself to make the best ch

Jess's phone is broken, and she only has enough savings for a very simple new phone. She really wants an iPhone and is thinking about taking out a loan for it. Do you think Jess should take out a loan for an iPhone? Why or why not?

Is it a good idea to buy a house with a loan? Why or why not?

What can happen if you don't pay back a loan to the bank on time?

Why do people sometimes get into debt? How can they try to avoid it?

What does the word "afford" mean? Can you give an example of something you can or cannot afford?

Mia has two loans. One is for a phone: $1000 with a 10% interest rate. The other is for a refrigerator: $2000 with a 7% interest rate. Which loan do you think she should try to pay off first, and why?

If there is high inflation in a country, is it a good idea to keep all your money "under the pillow" (at home)? Why or why not?