Code: 2.7.4 · Adults
Risks of taking a credit
Descriptors
Knowledge
What you can do at this level
- Kresiliencedaily-lifelarge-majority
Aware of the potential negative consequences of borrowing to meet a shortfall in current income
- Kresiliencedaily-lifelarge-majority
Understands the risks and benefits of using different kinds of credit providers (both formal and informal)
- Kresilience
Aware of the specific issues of taking credit in a foreign currency
- Kresiliencedaily-life
Aware of the risks of repeat use of rotating credit facilities
Skill
What you can do at this level
- Sresiliencelarge-majority
Assesses the risks, benefits and potential consequences of using a particular credit provider
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.