In the third episode of this season on financial FAQs gleaned from the Internet, Bex picks Simon’s brain on the topics of Borrowing and Debt.

Some key points of interest covered in this episode include the following:

• Bex starts off by asking Simon to explain what debt is [01:39] before going on to enquire about the possible impact of taking out a loan. [03:03]
• In response to a further question from Bex, Simon provides information about both ‘secured’ and ‘unsecured’ loans. [04:59]
• Simon discusses the evolving relationship between lenders and those who provide loans for them [11:41] and points out that some arrangements are riskier than others. [14:12]
• Bex talks about her own experience, as a small business owner, of dealing with clients who became indebted to her. [16:37]
• Simon provides some comments aimed at assisting individuals who are in danger of falling into significant debt [17:39], including an explanation of consolidation loans. [19:42]
• Bex highlights the emotional impact that can accompany being in debt [21:57], and Simon draws attention to the helpful advice and observations provided by Ben Clift of Christians Against Poverty in Bonus Episode 2 of Season 2. [22:32]
• Simon provides three top tips arising from this week’s discussion, including – for anyone who is grappling with significant debt – making mention of the support that is available through charities such as Citizens Advice and Christians Against Poverty. [24:41]
• The emphasis will change in the next episode of this season, when the focus will be on Investment, as a principle and in practice. [28:54]

Suggestions or feedback arising from this episode can be sent via email to whereyourtreasureis@freerangepodcasting.co.uk while messages via Instagram should be directed to @whereyourtreasureispodcast.

This show has been brought to you by Free Range Podcasting.

You can sign up to receive news and updates about this podcast by filling out the brief form to which you will be taken when clicking on this link.