Financial Literacy for Everyone
Savings

How do people save across the world?
See the Financial Literacy barometer results here.
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How to be creditworthy: the three Cs of credit


You can only get credit if you are creditworthy. Here are some ways in which a bank or a store will decide if you are creditworthy:

check markCharacter – will you repay the debt?

  • From your credit history, does it look like you are honest and can be relied on to pay off debt?
  • Have you used credit before?
  • Do you pay your accounts on time?
  • Do you have a good credit record?
  • How long have you lived at your present address?
  • How long have you been at your present job?
check markCapital – what if you don't repay the debt?

  • Do you have any valuable assets such as a house, savings or investments that could be used to repay debts if you cannot pay it from your income?
  • What property do you own that can secure the loan?
  • Do you have a savings account?
  • Do you have investments to use as surety?
check markCapacity – can you repay the debt?

  • Have you been working regularly in a job that is likely to provide enough income to repay your debt?
  • Do you have a permanent job? What is your salary?
  • How many other loan payments do you have?
  • What are your current living expenses? What are your current debts?
  • How many dependents do you have?
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