https://padlet.com/christopher_jelly/din6bke5gss4 My Padlet for assignment #2 about the importance of consumer credit on the economy. en-us 2018-04-16 15:04:46 UTC 2025-11-13 12:54:46 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Growing.png christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252198093 This is an interesting academic article about consumer credit. While it is pertaining to the American economy, I think that a Canadian reader can still take away a lot of useful knowledge. Of note, the early portions of this article talks about trends in consumer credit and how they can be precursors to economic crisis. The rest of the entry goes into detail about regulations for consumer credit and banking in America. While these are not directly related to Canada, much of the information is still relevant. ]]> 2018-04-16 15:26:43 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252198093 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252201171 This graph shows the average debt compared to the average disposable income. It is easy to see the increase in debt is outpacing the income by larger margins as time goes on.]]> 2018-04-16 15:32:43 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252201171 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252379909 The Importance of consumer credit on the economy by Chris Jelly]]> 2018-04-17 00:51:15 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252379909 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252380025 On this page you will find an assortment of resources pertaining to Consumer Credit and it's impact on the economy, with a focus on Canadian economics. I hope readers can come away with a better understanding of not only what consumer credit is, but why it is a keystone of any economy. ]]> 2018-04-17 00:52:01 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252380025 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252804074 This brief article speaks largely about the mounting credit card debt accumulating. The worry is that banks will suffer heavy losses on defaulting credit card because of a general lack of collateral. A notable statistic from this article is that consumers owed $1.821 trillion as of the fourth quarter of 2017]]> 2018-04-17 23:59:27 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252804074 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252805218 A website to display statistics, this particular one shows credit values through the years from 1971 to 2018. Of note is the fairly continuous increase in credit values. Seeing a spike around January 2017 and a small fall-off after that. These stats show that the average Canadian is accruing more debt as time goes on.]]> 2018-04-18 00:09:56 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252805218 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252808144 Here we have a helpful graph that shows the different types of credit lines over time, adjusted for inflation. It is interesting to note that personal lines of credit are by far the most notable increase.]]> 2018-04-18 00:28:28 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252808144 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252808616 A great chart that displays where the average consumer has debt, and the change from 2015 to 2016. While this data is dated, it is interesting to note where the debt is located which is largely in credit cards with auto loans being another candidate.]]> 2018-04-18 00:31:09 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252808616 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252810643 A quick video that goes over many of the concepts from this course. Notably it touches on the math behind calculating one's actual payments on loans as well as going over a few tips on how to correct spending habits. The video stresses that consumers should remind themselves that the money is being borrowed, not that the money is yours to spend. ]]> 2018-04-18 00:40:04 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252810643 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252813926 This video goes over the possible outcome of an interest rate hike for the average consumer. Reviewing that the bank of Canada could raise the interest rates in order to curb inflation and debt levels. The video touches on the fact that major credit lenders tend to increase their rates when interest rates go up, which directly influences the average consumer.]]> 2018-04-18 00:48:01 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252813926 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252815351 This video goes over some sample problems involving credit lines and how to calculate it. For those that would like to go further in depth in to how to calculate total costs to pay off debts depending on the interest rates. ]]> 2018-04-18 00:58:00 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252815351 christopher_jelly https://padlet.com/christopher_jelly/din6bke5gss4/wish/252818975 2018-04-18 01:21:26 UTC https://padlet.com/christopher_jelly/din6bke5gss4/wish/252818975