Module 5 of 8
Debt and obligations
Debt, credit and the SCHUFA credit bureau
Learning goal: “I recognise debt traps and know where to find help.”
- Grade level
- grades 8 to 13
- Length per module
- approx. 45 minutes
- Cost
- none
What you learn in this module
- Nominal and effective interest rate
- Instalment purchases and “0 %” financing
- What the SCHUFA credit bureau knows
- Cost traps in the small print
- The debt spiral and free debt counselling
Example question
“0 %” phone, 24 instalments of €30, cash price €699. What do you pay in total?