Debt Traps by brittany osgood https://padlet.com/brittanyosgood1/vy2gr6uv2e78 By : Brittany Osgood en-us 2020-03-30 04:52:55 UTC 2026-01-24 20:32:05 UTC hello@padlet.com Introduction brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481267663 Hello, my name is Brittany and I have chosen the topic debt traps. A debt trap is a debt that is difficult/impossible to repay due to high interest rates for example. In this padlet you can expect to learn to about debt traps and how they affect Canadians.]]> 2020-03-30 05:00:31 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481267663 Video #1 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481270558 This video is about how Canadians are affected by the government raising interest rates. In the video they discuss how higher interest rates can affect Canadians ability to pay their debts. They also address some important facts about how it is important for Canadians to track their finances and stop overspending.

I chose this video because I think it is important to understand how things like interest rates can affect our debt. I also chose this video because it is about the Canadian government so it has relevance to something we should be following. Also because it shows the importance of understanding interest rates to help eliminate debt.  

 

]]> 2020-03-30 05:05:58 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481270558 Video #2 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481278941  This video shows how many Canadians are affected by debt and how easily debt can happen to you. This video also covers how the Canadian government rising interest rates can influence Canadians car loans and house loans. 

 

I chose this video because I liked how it showed how Canadians take on too much debt and that we need to be smarter with our money. It is important to not take on too much debt so that you don’t end up owing money at the end of every pay cheque. I also chose this video because it show how regular Canadians can find their selves in serious debt problems, especially when the Canadian government decides to raise interest rates.

]]> 2020-03-30 05:20:15 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481278941 Video #3 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481284169 In this video they interview a couple of young adults to discuss their debt trap experiences and they discuss debt trap Canadians find themselves in with credit cards. It talks about the importance of making payments on time and how when you don’t it can cost you to pay more. Also, in the video you can learn about how students’ loans can also affect your debt. 

 

The reason I chose this video is because is shows how young adults are easily affected by debt traps and how east it is to catch yourself owing a lot of money to the bank

]]> 2020-03-30 05:29:02 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481284169 Video #4 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481287954 In this video they discuss how two Toronto women found themselves in huge debt and how they got out of it. It shows how they had to work hard in order to pay off the money they owed.

 

I chose this video because it shows how two Canadian women overcame debt. They had to learn how to be smarter with their finances and how to make a living that isn’t pay cheque to pay cheque. I decided to include this video because I think it was a good way to show that there is a way out of debt traps.

]]> 2020-03-30 05:35:51 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481287954 Website #1 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481292036 In this website the author discusses how Canadian homes became debt traps. The author writes about a women names Ann who finds herself in a debt traps to mortgage fees and rising living prices. On this website you can learn how these rising living fees had a effect on people across Canada

 

I included this website because it sheds light on how important it is to have knowledge about mortgages and how to properly budget your finances in order to avoid debt. 

]]> 2020-03-30 05:42:32 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481292036 Website #2 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481295651 On this website they discuss the top 5 reasons why Canadians are in debt. This website is very informative because it also gives tips on how to avoid debt traps. 

I included this website because it is important to understand what the mains are causes of debt and how to avoid them. Canadians are spending way more than we can afford and we need to learn betters’ ways to budget out finances. Also, a lot of younger adults will abuse credits cards, easily forgetting about the debt repercussions. 

]]> 2020-03-30 05:48:01 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481295651 Website #3 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481299251 This website discusses the severity of debt and how badly deb your traps can affect finances.  This website will show you the statistical affects of how debt affect Canadians. It also talks about how Canadians are paying off debt with more debt. 

I chose this website because I think it is very informative. I liked how it talked about Canadians are forced to borrow more money in order to pay off their debts just to get by. Therefore their debt will never end because they are just borrowing more money from the government. 

]]> 2020-03-30 05:53:00 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481299251 Website #4 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481303205 On this website you will learn about how to avoid debt traps. It is really informative and useful for your everyday life. It discusses how limiting your credit card usage and planning you spending can have a positive affect on your income. 

I chose this website because I think it is important to know how to avoid debt traps to remain debt free. Knowing this information early on can really help Canadians avoid finding themselves overwhelmed in debt. Understand how to budget and plan spending can really be a useful skill and that is why I picked this 
]]> 2020-03-30 05:58:22 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481303205 Picture #1 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481308113 This picture is suggesting that the Canadian agriculture is falling into a death trap. I chose this picture because it shows how farm debt is rising. I found this informative because if farm debt goes up this could have a negative affect on Canada. 

]]> 2020-03-30 06:04:47 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481308113 Picture #2 brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481310653 This picture shows that Canada debt is rising. I chose this photo because I was shocked at how much it a risen since 1961. I think this is important to know because out governments debt can have an affect on Canadians. ]]> 2020-03-30 06:07:46 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481310653 Reflection brittanyosgood1 https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481313480 What I learned most about this topic is how easy it is to find yourself in a debt trap, unable to ever pay off your debt. This topic is relevant to me because I have owed money for my credit and I have didn't pay in time once so I ended up owing more. I think the most important information to pass after learning about debt traps is the importance of budget planning.]]> 2020-03-30 06:10:52 UTC https://padlet.com/brittanyosgood1/vy2gr6uv2e78/wish/481313480