If you take a loan to buy a time machine, can you go to the future, win the lottery, and pay the bank back before you even took the money?
?
If a dragon is the banker and he breathes fire when people are late with their payments, would you ever take a loan from him? What is the "risk" here?
?
Can you spell this word?
B-U-S-I-N-E-S-S
Can you spell this word?
d-e-b-t
Can you spell this word?
a-f-f-o-r-d
Your pet hamster wants to borrow your allowance to buy a tiny hamster mansion. Should you lend them the money? What are the risks of lending money to a hamster?
?
What can happen if you don't pay back a loan to the bank on time?
?
What should people try to avoid to buy if they want to stay out of debt?
?
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?
?
When might taking out a loan be a really good and even necessary idea?
?
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?
?
How does someone take out a loan from a bank? What's the general process?
?
Why do people sometimes get into debt? How can they try to avoid it?
?
Is it a good idea to buy a house with a loan? Why or why not?
?
