Introduction
Credit is one of the most powerful tools in modern finance. It can build your future or break your finances, depending on how you use it.
For young people, credit often becomes the first real test of financial responsibility. It determines how easily you can borrow, rent, invest, or even start a business.
This module helps you understand what credit means, how it works, and how to use it wisely to create opportunities instead of debt traps.
As a financial literacy leader, understanding credit will enable you to teach others how to access and manage it responsibly especially students preparing for adult life and entrepreneurship.
Section 1: What is Credit?
Credit is the ability to borrow money or access goods and services now and pay for them later.
It is built on trust the belief that you will repay what you owe on time.
1.1 Types of Credit
- Personal Credit – Borrowing for individual needs like education or emergencies.
- Business Credit – Loans for business startups or expansion.
- Trade Credit – When suppliers allow you to buy goods now and pay later.
- Credit Cards – A line of credit used for purchases and repaid monthly.
- Government or Cooperative Loans – Public or community-based credit for development projects.
1.2 Why Credit Matters
- Enables access to funds when needed.
- Helps build a credit history for future opportunities.
- Allows you to invest in education, business, or assets.
- Encourages financial discipline when managed properly.
Section 2: The Credit Cycle ( How Credit Works)
Understanding the credit process helps you make informed borrowing decisions.
Step 1 – Application
You apply for credit by providing details about your income, expenses, and ability to repay.
Step 2 – Evaluation
The lender checks your creditworthiness your reliability to repay based on income, credit history, and collateral.
Step 3 – Approval & Disbursement
If approved, the bank or institution gives you access to the funds or credit line.
Step 4 – Repayment
You repay the borrowed amount in installments (including interest) over a specific period.
Step 5 – Review
Your repayment behavior determines your credit score and future borrowing potential.
Section 3: Key Terms in Credit
| Term | Meaning |
|---|---|
| Principal | The original amount borrowed |
| Interest | The cost of borrowing, expressed as a percentage |
| Collateral | An asset pledged to secure a loan |
| Credit Limit | The maximum amount you can borrow |
| Credit Score | A numerical rating of your creditworthiness |
| Default | Failure to repay on time |
| Installment | Regular payments made toward repayment |
Section 4: Understanding Credit Score
Your credit score is like a financial report card. It tells lenders how trustworthy you are with money.
Scores usually range from 300 to 850 the higher, the better.
Factors Affecting Your Credit Score
- Payment History (35%) – Paying bills on time improves your score.
- Credit Utilization (30%) – Using too much of your available credit lowers your score.
- Credit History Length (15%) – Longer, consistent history increases trust.
- Types of Credit (10%) – A mix of loans, cards, and savings accounts helps.
- New Credit (10%) – Too many new loans at once may hurt your score.
Tips for Building a Good Credit Score
- Always pay on time.
- Borrow only what you can repay.
- Keep your credit card balance below 30% of your limit.
- Avoid unnecessary loans.
- Review your credit report regularly.
Section 5: Types of Borrowers
1. Responsible Borrower
- Plans before borrowing.
- Reads and understands loan terms.
- Repays on time.
- Keeps records of payments.
2. Reckless Borrower
- Borrows impulsively.
- Misses payments or ignores reminders.
- Falls into debt traps.
- Blames others for financial stress.
Goal: Always aim to be a responsible borrower. Your credit reputation is one of your greatest assets.
Section 6: How to Borrow Wisely
-
Borrow for needs, not wants.
Only take loans that improve your future (e.g., education, business). -
Understand the interest rate.
Compare rates and choose fair, transparent lenders. -
Create a repayment plan.
Write out how and when you will repay each loan. -
Avoid multiple debts.
Focus on clearing one debt before taking another. -
Negotiate terms if needed.
Ask lenders for flexible repayment options if you face difficulty.
Section 7: Common Credit Pitfalls
| Mistake | Result |
|---|---|
| Borrowing without a purpose | Wasted money and stress |
| Ignoring interest rates | Paying far more than you borrowed |
| Missing payments | Damaged credit score |
| Taking multiple loans | Debt overload |
| Falling for fake lenders | Fraud or loss of funds |
Tip: Always verify lenders through official websites or government registries before taking a loan.
Section 8: Real-Life Credit Examples
Case 1 – Good Credit Use
Chidera borrowed ₦100,000 to buy tailoring equipment. She repaid on time, built a credit history, and qualified for ₦500,000 the next year to expand her shop.
Case 2 – Bad Credit Use
David took multiple online loans to buy a new phone. He defaulted, damaged his credit score, and now struggles to access real business funding.
Case 3 – Smart Borrower
Aisha borrowed ₦50,000 for a small snack business. She kept records, repaid early, and was offered a discount on her next loan.
Section 9: Teaching Credit to Students (KAFI Club Application)
As a KAFI financial literacy leader, you can teach credit through interactive classroom activities:
-
Credit Role Play:
Students act as lenders and borrowers, negotiating repayment plans. -
Credit Score Game:
Each group earns or loses points based on fictional financial decisions. -
Class Debate:
“Is credit good or bad?” – helps students think critically about responsible borrowing. -
Budget & Credit Challenge:
Students plan a project and simulate taking a loan responsibly.
Section 10: Benefits of Good Credit Management
- Access to larger and cheaper loans.
- Stronger financial reputation.
- Easier approval for housing, business, or education funding.
- Peace of mind and financial confidence.
Remember: “Good credit opens doors bad credit closes them.”
Section 11: The Role of Fintech in Credit
Fintech platforms have made credit more accessible to young people and small businesses.
Examples:
- Carbon, Branch, FairMoney, Renmoney, and Aella Credit offer instant loans.
- Credit bureaus like CRC Credit Bureau and FirstCentral record repayment history.
However, always read terms carefully some fintech loans carry high interest if not repaid on time.
Section 12: Key Takeaways
- Credit is borrowed trust, manage it wisely.
- Always borrow for productive purposes.
- Protect your credit score by paying on time.
- Avoid debt traps and impulsive borrowing.
- Teach others that credit, when managed well, is a tool for empowerment, not enslavement.
Conclusion
Credit is neither your friend nor your enemy, it is a mirror of your financial discipline.
Used wisely, credit can fund your dreams, expand your business, and elevate your life.
Misused, it can limit your options and cause unnecessary stress.
As a young leader in financial literacy, your duty is to educate others on how to build good credit habits that lead to freedom, not bondage.
Quote: “Good credit is not about how much you can borrow, it’s about how well you manage what you owe.”
Kindly share a summary of what you have learnt in the comment below in this format:
- Full name:
- Country:
- Summary of what you have learnt:
Join KAFI Community
Florence Kaselela from Malawi.
ReplyDeleteFrom this module, I have learnt that credit is the ability to borrow money or access goods and services now and pay later, based on trust that repayment will be made. It plays a vital role in helping individuals and businesses access funds, build financial history, and invest in growth when managed wisely. I understood the credit process from application to repayment and review and key terms like principal, interest, collateral, and credit score. I also learnt that a credit score reflects one’s financial trustworthiness, influenced by payment history, credit usage, and borrowing behavior. To maintain a good credit score, it is important to pay bills on time, borrow responsibly, avoid unnecessary loans, and review credit reports regularly.
Precious Helard
ReplyDeleteMalawi
Credit is the ability to borrow and repay later. When used wisely, it builds trust, opportunity, and financial growth; when abused, it leads to debt traps. Understanding credit scores, responsible borrowing, and repayment builds financial discipline. As a KAFI leader, teaching smart credit use empowers youth toward financial freedom.
Name: Precious Joshua Mkomo
ReplyDeleteCountry : Malawi
I have learned that credit is a powerful financial tool that can build my future or break my finances, depending on how I use it. Understanding credit helps me make informed borrowing decisions and build a good credit score. I have learned to borrow wisely by planning before borrowing, reading loan terms, and repaying on time. I aim to be a responsible borrower and avoid debt traps. By managing credit effectively, I can access larger and cheaper loans, build a stronger financial reputation and achieve my goals. I am committed to teaching others about responsible credit management and promoting financial literacy.
Alinafe Mponda from Malawi
ReplyDeleteFrom this KAFI Foundation module on Understanding Credit, I have learnt that credit means the ability to borrow money or access goods and services now and pay later based on trust that repayment will be made. Credit plays an important role in helping individuals, students, and businesses access funds for education, business, or emergencies when managed responsibly.
I have understood that the credit process involves application, evaluation, approval, repayment, and review and that repayment behavior affects one’s credit score, which shows how trustworthy someone is with money. I learnt key terms such as principal, interest, collateral, and default, and how these affect borrowing.
To build a good credit score, one must always pay bills on time, borrow only what can be repaid, avoid unnecessary loans, and keep credit use below 30% of the limit. A good credit record makes it easier to get affordable loans, start businesses, or invest in education.
The module also taught me the difference between responsible and reckless borrowers, emphasizing the need to borrow for productive purposes only. I learnt to avoid common credit pitfalls like borrowing without purpose, missing payments, or dealing with fake lenders.
Finally, I learnt that Fintech platforms such as Carbon, Branch, and Fair money have made credit more accessible, but users must always read and understand loan terms. Overall, credit is a tool that, when used wisely, builds financial freedom but when misused, it leads to debt and financial stress.
Joy Ngum Ndalle
ReplyDeleteCameroon
I've learnt that credit or loans are not a bad thing, they're not too good either but they're some sort of a necessary evil. Credit is a mirror of one's financial discipline, keeping a good credit score is of great importance and gives you a good financial reputation giving access to more.
Buhle Simon Mnguni
ReplyDeleteSouth Africa
This module covers responsible credit management for financial goals. Key points:
- *Good Credit*: Access larger and cheaper loans, build financial reputation.
- *Smart Borrowing*: Borrow for productive purposes, repay on time.
- *Practical Strategies*: Credit role play, credit score game, and class debate.
The module emphasizes that credit is a tool for empowerment, not enslavement, when managed wisely.
Full name: mark Injendi mutoro
ReplyDeleteCountry: Kenya
What I have learnt in summary:
Understanding credit, credit means the ability to borrow money acces s goods and services and repay for them later.
Types of credit, personal credit, business credi and government loans,
Important of credit include enables accessibility of funds when needed,helps build credit history.
Credit score means a financial report that tells leaders how trustworthy you are with money.
How to build good credit score such us review your goals reports and avoid unnecessary loans,
Finally how to borrow wisely is through avoiding multiple debts and create repayment.
Full name: Nicholas Kachinga Emanimani
ReplyDeleteCountry: Kenya
Summary of what I have learnt in this Module,
I have learned that credit is about borrowing money and paying it back later with trust and discipline. When used wisely, credit can help you achieve goals like starting a business, continuing education, or building assets. I now understand how credit scores work, why paying on time matters, and the difference between responsible and reckless borrowing. Good credit builds opportunities, while poor credit can close doors. As a financial literacy leader, I have learned to teach others how to borrow responsibly and manage credit as a tool for growth, not a trap for debt.
Mary Orah from Malawi,,, Summary of what I have learnt:
ReplyDeleteI have learnt that credit is a form of borrowed trust that must be managed wisely. Using credit responsibly can help build a good financial reputation and provide access to larger, cheaper loans in the future. Borrowing should always be for productive purposes, such as business or education, not for impulsive spending. I also learnt that paying loans on time helps maintain a strong credit score, while defaulting damages it and limits financial opportunities. Fintech platforms have made access to credit easier, but it is important to read and understand loan terms before borrowing. Most importantly, good credit management brings financial freedom and confidence, while poor credit habits can lead to stress and financial setbacks.
Full name: Tanaka Bande
ReplyDeleteCountry: Zimbabwe
Summary of what you have learnt:
I have learnt that credit is an important tool in managing personal and business finances. It allows individuals to borrow money or access goods and services now and pay later, based on trust and responsibility. Understanding how credit works from application to repayment helps in making informed financial decisions. A good credit score, built through timely payments and responsible borrowing, creates opportunities for loans, housing and business growth. However, misuse of credit can lead to debt traps, stress and a damaged financial reputation.
I have also learnt that being a responsible borrower means planning before borrowing, understanding interest rates and avoiding unnecessary debts. Credit should always be used for productive purposes that improve one’s future, such as education or entrepreneurship. Fintech platforms have made borrowing easier, but it is important to read terms carefully and repay loans on time. Good credit management builds financial confidence, while poor habits can close doors to future opportunities. Ultimately, credit is a reflection of one’s financial discipline and should be handled with wisdom and integrity.
Cynthia Manjawira from Malawi Summary of what I have learnt
ReplyDeleteI have learnt that credit is the ability to borrow money and pay later but it requires discipline and responsibility. Managing credit wisely helps build a good credit score which opens doors to more financial opportunities like business loans or education support. I now understand the importance of borrowing for productive purposes paying on time and avoiding multiple debts. Good credit management reflects financial maturity and trustworthiness while poor credit habits can limit one’s future chances.
Wongani William Mvula
ReplyDeleteMalawi
This lesson taught me that credit is a financial tool reflecting one's discipline. It involves borrowing now to pay later, guided by trust. For example, borrowing for a tailoring machine to grow a business is wise, unlike impulsive loans for a phone. A credit score, shaped by payment history and credit use, acts as a financial report card. Responsible borrowing means taking loans for needs, understanding terms, and repaying promptly. Managed well, credit unlocks opportunities like larger loans; mismanaged, it causes debt traps. Credit empowers when used prudently, turning trust into tangible growth.
Full name: Adego Hillary
ReplyDeleteCountry: Kenya 🇰🇪
Summary of what I have learnt:
I have learnt that being a responsible borrower means understanding loan terms, repaying on time, and keeping good financial records. Credit should be used for important and productive purposes like education or business, not for wants. It’s important to compare interest rates, plan repayments, and avoid taking multiple loans at once. Good credit management builds a strong financial reputation and provides access to bigger opportunities, while poor borrowing habits can lead to debt and stress. I also learnt that fintech platforms make credit more accessible, but we must always read and understand the terms. Overall, good credit is built through discipline, honesty, and timely repayment.
Brigid jepkoech -kenya
ReplyDeleteTakeway lessons
1.significance of understanding credit language from interests, collaterals,credit scores etc- for good decision making on loan borrowing and repayment.
Good credit use will establish trust and eventually financial growth
Proper understanding of credit borrowing and utilization would lead to business success rather than debt traps
Mellen otieno
DeleteKenya
Cohort 6
Batch B
Credit works through borrowing, repayment and tracking behaviours via a credit score. Responsible borrowing builds good credit leading to lower costs. As a financial literacy teacher, I have learnt that understanding credit will enable you to teach others how to access it and manage it responsibly
Blessings Matitha
ReplyDeleteFrom Malawi
I have learned that credit is a strong financial tool that lets you borrow money or use goods and services right away and pay for them later, based on the idea that you will pay back on time. To understand credit, you need to know about the different types, like personal, business, and trade credit, how the credit process works from applying to repaying, and important terms such as principal, interest, and credit score. A good credit score shows how reliable you are with money, and it's built by paying bills on time, using credit wisely, and having different types of credit. Borrowing responsibly means planning ahead, knowing what you're signing up for, and paying back on time, while borrowing without thinking can lead to too much debt and stress. Borrow only what you need, compare different lenders, and avoid taking on too much debt. Managing credit well can help you get better loans and more financial chances, and while new technology has made it easier to get credit, you should still be careful. Teaching others how to use credit properly can help them gain financial freedom instead of getting stuck in debt.
Jibril Usman Ahmad
ReplyDeleteNigeria
I have learnt that credit, when managed wisely, can be a powerful tool for financial growth. Responsible borrowing means taking loans only for productive purposes, understanding interest rates, and repaying on time to build a good credit score. I also learnt that poor credit habits such as multiple debts and missed payments can damage financial reputation. As a KAFI leader, I can teach students about credit through games, role plays, and debates that help them understand the importance of discipline, planning, and trust in financial management.
Alinafe Mponda from Malawi
ReplyDeleteFrom this KAFI Foundation module on Understanding Credit, I have learnt that credit is the ability to borrow money or access goods and services now and pay later, based on trust that repayment will be made. Credit is a powerful financial tool that, when used wisely, helps individuals, students and businesses access funds for education, business growth and emergencies.
I have understood that the credit process involves several key stages application, evaluation, approval, repayment and review and that repayment behavior directly affects one’s credit score, which measures how trustworthy a person is with money. Key credit terms such as principal, interest, collateral, credit limit and default are essential to understand when borrowing.
I have also learnt that maintaining a good credit score requires paying bills on time, borrowing only what can be repaid, keeping credit use below 30% of the limit, and avoiding unnecessary loans. A strong credit score opens doors to larger and cheaper loans, business expansion and other financial opportunities.
The module has also taught me the difference between responsible and reckless borrowing emphasizing that responsible borrowers plan ahead, read loan terms, and repay on time, while reckless borrowers borrow impulsively and fall into debt traps.
Furthermore, I have learnt about common credit pitfalls such as borrowing without purpose, missing payments, and dealing with fake lenders, as well as the rise of Fintech platforms like Carbon, Branch, and FairMoney, which have made credit more accessible but require careful reading of terms before borrowing.
In conclusion, I have learnt that credit is neither good nor bad; it reflects one’s financial discipline. When managed wisely, credit empowers people to achieve financial freedom, but when misused, it leads to debt and financial stress.
Darwin Mkanya
ReplyDeleteMalawi
From this module, i have learnt that credit is a powerful financial tool that allows people to borrow money and pay later, but it must be managed wisely to avoid debt traps. The main lessons are that understanding how credit works, building a good credit score through timely repayments, and borrowing only for productive purposes are key to financial success. Responsible borrowing requires planning, comparing interest rates, and keeping debts manageable. I also learned that good credit management builds trust, opens opportunities for future loans or investments and promotes financial independence while poor credit habits can damage one’s financial reputation and limit opportunities.
Mohamed Babah Fofanah
ReplyDeleteFrom Sierra Leone
The session emphasizes that credit is a powerful tool in modern finance, enabling borrowing for personal, business, or government needs. It highlights the importance of understanding how credit works through a cycle of application, evaluation, approval, repayment, and review. Key concepts include credit types, scores, and responsible borrowing practices. Maintaining a good credit score depends on timely payments, manageable credit utilization, and a solid credit history. Responsible borrowing involves planning, comparing rates, and avoiding debt traps.
The presentation warns against common pitfalls like unnecessary borrowing and ignoring interest rates. It showcases real-life examples of good and bad credit use and stresses the role of fintech platforms in expanding access. As a financial literacy leader, teaching credit through interactive activities can foster responsible financial behavior.
Overall, managing credit wisely can open opportunities and build a strong financial future.
Full name :Chisomo Mambiya
ReplyDeleteCountry :Malawi
Credit means borrowing money or accessing services now and paying later, based on trust that you’ll repay on time. It comes in different forms like personal loans, business credit, trade credit, and credit cards, and is useful for funding education, starting businesses, or handling emergencies. To use credit wisely, you need to understand how it works—from applying and getting approved to repaying and building a good credit score. Your credit score reflects how reliable you are with money, and it improves when you pay bills on time, borrow responsibly, and avoid too much debt. Being a responsible borrower means planning before borrowing, understanding loan terms, and repaying on time. Mistakes like borrowing without a purpose or missing payments can damage your financial reputation. Fintech apps now make credit more accessible, but it’s important to read loan terms carefully. Teaching students about credit through games, role plays, and debates helps them prepare for adult life. Good credit management leads to better loan options, financial confidence, and more opportunities. Ultimately, credit is a tool—if managed well, it can help you grow; if misused, it can hold you back.
Ebrima Touray
ReplyDeleteGambia
From this module, I learned that credit is a powerful financial tool that must be managed with wisdom and discipline. It allows access to funds for education, business, and personal development but can also lead to debt if misused. I understood the importance of maintaining a good credit score by paying on time, borrowing only what I can repay, and avoiding multiple debts. The module also explained how lenders assess creditworthiness and how fintech platforms are reshaping access to loans. Real-life examples showed how responsible borrowing builds opportunities while poor credit habits cause stress and financial setbacks. Most importantly, I learned that credit is built on trust and reputation, and using it wisely helps young people achieve financial growth and independence.
Phalane TEBATSO CASCHNER from South Africa.
ReplyDeleteCredit is a method that allows us to money and be able to to pay it back later without a failure.
We must make sure that we build or great a good credit score by making a credit and paying the credit on time.Always make a credit when is necessary not when you want to impress your friends.
Name: Maimuna Simba
ReplyDeleteCountry: Malawi
On understanding credit module I have learnt that credit is when you are able to borrow money or access goods or services and pay later.credit are crucial and productive when you borrow with a clear purpose,because it allows a person to access funds when needed,allow to invest and encourage financial discipline.In order to have a good credit scores individuals should make that they borrow for nerds not wants,understand interest rate, create repayment plan, avoid multiple debts and negotiate terms needed.This topic has also provided insights pitfalls that as young people may face along with potential solutions.
JAIRUS MAKOKHA MAYIKUVA
ReplyDeleteFROM KENYA
Credit is neither your friend nor your enemy, it is a mirror of your financial discipline.
Used wisely, credit can fund your dreams, expand your business, and elevate your life.
Misused, it can limit your options and cause unnecessary stress.
As a young leader in financial literacy, your duty is to educate others on how to build good credit habits that lead to freedom, not bondage.
Makoabola Mathapholane
ReplyDeleteLesotho
Credit is a powerful financial tool that, when managed well, can open doors to affordable loans, housing, education, and business opportunities. Fintech platforms like Carbon and FairMoney have made credit more accessible, but users must be cautious of high interest rates. The key to financial freedom lies in borrowing responsibly, repaying on time, and using credit for productive purposes. Credit reflects your financial discipline—not your worth.
*Quote:*
*"Good credit is not about how much you can borrow, it's about how well you manage what you owe."*
Full name: Emmanuel Magombo
ReplyDeleteCountry: Malawi 🇲🇼
I have learnt that credit is the ability to borrow money or access goods and services now and pay later, based on trust that repayment will be made. It plays a vital role in helping individuals and businesses access funds, build financial history, and invest in growth when managed wisely.
Tracy Chipongoma
ReplyDeleteZambia
Credit can build your future or break your your finances and this is dependable on your choices..it is built on trust and belief that you will repay what you owe on Time.
Credit can differ due to the purpose it's gotten for. We have personal, business, trade, credit and government loans. Credit like any financial proceed has a cycle it's built on. There's application, evaluation, approval disbursement, repayment and review.
Some of the key terms used include, principal(original amount borrowed), collateral, default(failure to pay on time)
Credit can be scored from 300. -850. Factors that affect it include, payment history, credit utilization, credit history length. I've also learnt on the types of borrower's
From Eswatini
ReplyDeleteI learnt that as a young person, it is very important for me to understand what credit is and how one can easily find themselves in it. Credit can be helpful, especially when I need to borrow or access funds to invest in something meaningful—like starting a business, furthering my education, or even managing emergencies. However, I’ve also come to realise that credit can become a trap if not handled wisely.
As someone striving to be financially literate and a future financial literacy leader, I need to fully understand how credit works so that I can teach others with confidence and clarity. Knowing about the credit cycle helps me make responsible financial decisions and guide others to do the same. It’s my responsibility to help students and community members see the difference between being a responsible borrower—who borrows with purpose and repays on time—and a reckless borrower—who spends without planning or understanding the consequences.
By understanding credit deeply, I am equipping myself not only to manage my own finances wisely but also to be a positive example and educator for others in my community. Credit can build or destroy someones future .
- Full name: Vincent Olwanda
ReplyDelete- Country: Kenya
- Summary of what you have learnt:
I have learned that credit is a powerful financial tool built on trust and responsibility. It allows access to funds for personal, business, or educational needs, but must be used wisely. Understanding the credit cycle, key terms, and credit score factors helps in making informed borrowing decisions. Responsible borrowing involves planning, timely repayment, and avoiding debt traps. Fintech platforms offer quick loans, but terms must be reviewed carefully. Good credit management leads to financial growth, while poor habits can cause stress and limit opportunities. Teaching others about credit empowers them to build a secure financial future
**Full name:** Precious Chichitike
ReplyDelete**Country:** Malawi
**Summary of what I have learnt:**
From this topic, I have learnt that credit is one of the most important tools in managing personal and business finances, but it requires responsibility and discipline. Credit allows individuals to access money or goods before payment, making it possible to invest in education, start a business, or handle emergencies. However, I have also understood that borrowing without a clear purpose or repayment plan can easily lead to debt problems. A good credit score is built through timely repayment, borrowing only what one can afford, and maintaining a low balance on loans or credit cards. As a young person in Malawi, I have realized the importance of using credit for productive purposes that contribute to my growth and financial stability. I also understand that fintech innovations are making credit more accessible, but it is important to read and understand the loan terms before borrowing. Overall, I have learnt that credit is not just about borrowing money—it reflects financial discipline and trustworthiness, and when used wisely, it can open doors to future opportunities and success.
I understood that credit is a form of borrowed trust that requires careful management. By using credit responsibly, you can build a strong financial reputation, access better loan options and achieve your goals. Borrowing should be strategic, such as for business or education rather than impulsive spending. Timely loan repayments are crucial for maintaining a good credit score, while defaults can harm your financial prospects. With fintech making credit more accessible, it's essential to understand loan terms and conditions. Ultimately, good credit management leads to financial freedom and confidence, while poor habits can lead to stress and financial setbacks.
ReplyDeleteSakala John from Zambia,
ReplyDeleteSummary: Financial freedom comes when one realizes that a future can not be belt on bad credit, one needs to know when to borrow, how and why to borrow, these questions saves as a whole time out of mercy and gives more financial freedom
RANUECK THENFORD
ReplyDeleteMalawi
Cohort 5, batch A
Group A
Day 5 module 1
From this module, i have gained insight on what credit is all about and how it matters to us. Credit is ability to borrow money or access goods anf service now and pay them later. I have also leant why it matters to us because it enables access to funds, encourage financial discipline and helps buil credit history. I have also about types which are personal, trade, credit cards and bussiness credit. Another lesson i have gained is credit cycle which is application, evaluation, approval and disbursement, repayment and reveiw and there are factors affecting credit history which are types of credit, credit utilisation etc. I have also learn tips to borrow money which are borrow for needs, create a repayment plan and avoid multiple debts. Finally i have learnt benefits of good credit management which are peace of mind and stronger financial reputation
Diana Khauya
ReplyDeleteMalawi
Cohort 5
Batch A
Group B
I have learnt that a credit is the ability to borrow money or access goods and services now and pay for them later . Credit enables access to funds when needed, encourages financial discipline and allows you invest in education, business or assets. Understanding the cycle of credit process helps to make informed borrowing decision. Tips about building a good credit score is to always pay on time, borrow only what you can repay, avoid unnecessary loans and review your credit reports regularly. Always aim to be a responsible borrower, a credit reputation is one of the greatest assets.
Kenny Bwalya
ReplyDeleteFrom Zambia
Cohort 5 BATCH B
Group F
Day 5 module 1
Summary
This module teaches about understand credit. Understanding credit means knowing how borrowing works and how it affects your financial life. Credit allows you to access money, goods, or services now and pay later, usually with interest. It includes loans, credit cards, and hire-purchase agreements, and your ability to borrow depends on your credit history, how well you have repaid debts in the past. Good credit makes it easier and cheaper to borrow, while poor credit can lead to higher costs or denial of loans. Knowing how credit works helps you make smart financial decisions, avoid debt problems, and build a strong financial reputation.
Joseph olinga ,Uganda,cohort 5 batch B,groupE. In this module ,i have gained more knowledge about credit and how to build good credit history.good credit makes it easier to borrow and pay .understanding how credit works is very important for young people and serves as guide when they planning to access loans for investment.
ReplyDeleteRasool William Bennie
ReplyDeleteFrom Malawi
Cohort 5 (Batch A)
Group C
Credit is like borrowed trust that lets you access money or goods now with a promise to pay later, and it's a powerful tool that can either build your future or create financial stress depending on how you use it. To be a responsible borrower, you should only take loans for important needs like education or a business, always make payments on time, and avoid taking on too much debt. Your credit score, which is like a financial report card, is built by your actions—paying bills on time, not using too much of your credit limit, and having a mix of different credit types over time. By understanding the terms, having a repayment plan, and borrowing wisely, you can open doors to more opportunities; but if misused, by borrowing for unnecessary things or missing payments, it can lead to debt and damage your financial reputation.
Sarah Benson
ReplyDeleteMalawi
Cohort 5
Group A
Batch A
Day 5 module 1 This module teaches young people what credit is, how it works, and how to use it responsibly. It explains types of credit, the credit cycle, key terms, and how credit scores are built. It highlights the difference between responsible and reckless borrowing and gives practical steps for borrowing wisely. It also outlines common credit mistakes, real-life examples, and activities for teaching students about credit through KAFI Clubs. The key message credit is a powerful tool that must be managed with discipline to create opportunities, not debt.
Full name: Priscilla Amour
ReplyDeleteSouth Sudan
Cohort 5 , batch A
Group A
I learnt that credit is the ability to borrow money or access goods now and pay later, built on trust and financial responsibility. There are different types of credit, including personal, business, trade, and credit cards. Understanding the credit cycle—application, evaluation, disbursement, repayment, and review—is key to managing it wisely. A good credit score opens opportunities, while poor management limits them. Responsible borrowing involves planning, understanding interest, repaying on time, and avoiding multiple debts. Using credit for productive purposes like education or business, rather than impulsive wants, protects your financial reputation. Fintech platforms can provide easier access to credit, but terms must always be checked. Ultimately, credit is a tool that can empower or enslave, depending on how disciplined you are in managing it.
Full name: Priscilla Amour
ReplyDeleteSouth Sudan
Cohort 5 , batch A
Group A
I learnt that credit is the ability to borrow money or access goods now and pay later, built on trust and financial responsibility. There are different types of credit, including personal, business, trade, and credit cards. Understanding the credit cycle—application, evaluation, disbursement, repayment, and review—is key to managing it wisely. A good credit score opens opportunities, while poor management limits them. Responsible borrowing involves planning, understanding interest, repaying on time, and avoiding multiple debts. Using credit for productive purposes like education or business, rather than impulsive wants, protects your financial reputation. Fintech platforms can provide easier access to credit, but terms must always be checked. Ultimately, credit is a tool that can empower or enslave, depending on how disciplined you are in managing it.
Margaret mwale
ReplyDeleteZambia
Cohort 5
Batch A
Group C
Credit is were you get money or other stocks then pay later with or without an interest.
I have also learnt that with good credits,were you are paying on time ,it makes it easy for you to get cash or goods on credit again without fail hence building trust
Sanusi Garba mabera
ReplyDeleteNigeria
Cohort 5 Batch B
Day 5 Module 1
From this module, I learnt that credit is all about trust—borrowing money now and paying it back later. I understood that credit can really help someone if it is used wisely, especially for education, business, or other important needs. But if it is misused, it can put a person into serious debt. I also learnt how the credit process works, the meaning of key terms like interest, collateral, and credit score, and how paying on time helps build a good financial reputation. This module taught me the importance of being a responsible borrower, avoiding unnecessary loans, and planning well before borrowing. As someone from Sokoto who teaches financial literacy, I now know how important it is to guide others, especially students, to use credit as a tool for growth, not a trap.
Lonjezo Banda
ReplyDeleteMalawi
Cohort 5, batch A
Group A
Module 1 day 5.
This module emphasizes that you must borrow what you can afford to build a good reputation. Credits open future opportunities based on credit history and allow one to make investments, therefore it is important to maintain a high credit score. Your credit score can be affected by your payment history, credit history and credit utilization, hence always aim to be a responsible borrower by only borrowing for needs and not wants. You must also borrow to improve your future and avoid multiple debts.
Elizer Kanyika
ReplyDeleteMalawi
Cohort 5
Group A
Batch A
UNDERSTANDING CREDIT Module 1
From this module I have learnt that credity is when a person has been imentrusted with money or service sor goods in order to be paid later. Credityk has different purposes based on the purpose that the credit is saving at a particular point in time. Credit has a circle which starts from application, evaluation, approval and disbursement, repayment and review. A person that pays back credit on time or before the agreed time can be trusted with more in the future
Elizer Kanyika
ReplyDeleteMalawi
Cohort 5
Group A
Batch A
UNDERSTANDING CREDIT Module 1
From this module I have learnt that credity is when a person has been imentrusted with money or service sor goods in order to be paid later. Credityk has different purposes based on the purpose that the credit is saving at a particular point in time. Credit has a circle which starts from application, evaluation, approval and disbursement, repayment and review. A person that pays back credit on time or before the agreed time can be trusted with more in the future
I have learnt that credit is the ability to borrow money or access services now and pay later, and it is built on trust. I now understand that credit can help me access opportunities when I use it wisely, but it can also trap me in debt if I misuse it.
ReplyDeleteI learnt about the different types of credit, including personal loans, business loans, trade credit, credit cards, and government or cooperative loans.
I now understand the credit cycle:
I apply → I get evaluated → I am approved → I repay → My repayment is reviewed.
This cycle determines how easily I can borrow again in the future.
I learnt key credit terms such as principal (what I borrow), interest (the cost of borrowing), collateral, credit limits, credit scores, defaults, and installments.
I now understand the importance of a credit score—my financial report card. I learnt what affects it, such as:
– My payment history
– How much of my available credit I use
– How long I’ve had credit
– The mix of credit I have
– How often I take new credit
I also learnt how to build a good credit score by paying on time, borrowing what I can repay, keeping my credit card usage below 30%, avoiding unnecessary loans, and checking my credit report regularly.
I learnt the difference between being a responsible borrower and a reckless borrower. I understand that I must plan before borrowing, read loan terms, pay on time, and avoid impulsive borrowing.
I now know how to borrow wisely:
– I should borrow for needs, not wants.
– I must understand interest rates before agreeing to any loan.
– I should prepare a repayment plan.
– I must avoid taking many loans at once.
– I can negotiate repayment terms when facing challenges.
I became aware of common credit mistakes such as ignoring interest, missing payments, taking multiple loans, and falling for fake lenders.
Through real-life examples, I saw how good credit habits open doors while bad habits block financial opportunities.
As a financial literacy leader, I learnt how to teach others about credit using role-play, games, debates, and practical budgeting activities.
I also learnt how fintech has made credit more accessible but can be risky if I do not read the terms carefully.
Overall, I learnt that good credit management gives me access to bigger opportunities, helps me build a strong financial reputation, and gives me peace of mind.
In conclusion:
Credit is a tool, and its impact depends on how responsibly I use it. Good credit opens doors—bad credit closes them.
Charles Boimah Gray
ReplyDeleteLiberia
Cohort 5
Group A, Batch A
Module 1, Day 5
I learnt that credit is the ability to borrow money or access goods and services at a particular time and pay later depending on the agreement. It's built on ones trust and beliefs that you will pay later. I also learnt about the types of credit like personal credit where in people credit for individual needs like education and emergency, business credit where loans is given for startups of business. Credit is important because it allows us to access funds when needed, it opens opportunities for the future, helps with financial growth when manage well and give you the opportunity to invest in education business or assets. I also learnt that it's good to understand the credit process by giving information about your income, expenditure and way in which you will pay when you want to credit, going through evaluation process before been approved by the lender and understanding ways in which you will repay the required loans.
Meshack Muuo
ReplyDeleteKenya
Cohort 5 (Batch A)
Group C
Summary of Understanding Credit
Credit is the ability to borrow money or access goods and services now, with the promise to pay later. It is built on trust and can either empower your financial growth or trap you in debt if mismanaged. Understanding credit is crucial for young people to access loans, start businesses, and build a financial reputation.
Key Points Learned:
1. Types of Credit:
Personal, business, trade, credit cards, and government/cooperative loans.
2. The Credit Cycle:
Application → Evaluation → Approval → Repayment → Review.
3. Important Terms:
Principal, interest, collateral, credit limit, credit score, default, and installment.
4. Credit Score:
Ranges from 300–850; higher scores indicate reliability.
Influenced by payment history, credit utilization, credit length, credit types, and new credit.
Tips: Pay on time, borrow responsibly, keep balances low, and review reports regularly.
5. Types of Borrowers:
Responsible: Plans, understands terms, repays on time.
Reckless: Borrows impulsively, misses payments, risks debt traps.
6. Borrowing Wisely:
Borrow for productive needs (education, business), compare interest rates, make repayment plans, and avoid multiple debts.
7. Common Pitfalls:
Borrowing without purpose, ignoring interest rates, missing payments, taking multiple loans, falling for fake lenders.
8. Real-Life Examples:
Good credit builds trust and enables bigger loans.
Poor credit usage limits opportunities and creates financial stress.
9. Teaching Credit to Students (KAFI Clubs):
Role plays, games, debates, and budgeting challenges teach responsible borrowing.
10. Benefits of Good Credit Management:
Access to affordable loans, strong financial reputation, easier approval for housing/business, and financial confidence.
11. Role of Fintech:
Platforms like Carbon, Branch, and Aella Credit provide access to credit but require caution due to high interest if mismanaged.
Conclusion:
Credit is a tool reflecting your financial discipline. When managed responsibly, it funds growth, education, and business. Misused, it limits opportunities and increases stress. As a young leader, teaching others to handle credit wisely empowers them to build financial freedom.
Key Quote:
"Good credit is not about how much you can borrow, it’s about how well you manage what you owe."
Bully Fofana
ReplyDeleteThe Gambia
Cohort 5
Group A
I learned that credit allows you to borrow money and repay it later, but the way you manage it shapes your financial future. The module explained different forms of credit, how interest and repayment terms work, and why they influence the real cost of borrowing. I understood how credit scores are built through habits like paying on time, keeping debt low, and avoiding unnecessary loans. It also showed how good credit opens doors to better opportunities while poor credit makes borrowing more expensive. Overall, the module taught me how to use credit wisely, compare offers, and make decisions that protect my long-term financial stability.
Lisah T Murewa
ReplyDeleteZimbabwe
Cohort 5
Batch A
Group B
Summary
I have learnt that credit is money you borrow now and repay later. It can help you grow if used wisely like borrowing to start a small business or pay for school. For example someone who borrows to buy equipment and repays on time can qualify for bigger loans later. But using loans to buy things you don’t need, like a new phone, can lead to debt and a damaged credit score. Good credit comes from paying on time, borrowing only what you can afford, and keeping debts low. Fintech apps like Carbon and Branch make credit easier to access for young people.
Mahlohonolo Futho
ReplyDeleteCohort 5:Batch A
Group B
I learnt that credit is the ability to borrow now and repay later. Used wisely, credit builds trust, opens opportunities, and supports financial growth — but misused credit can create debt traps. The module emphasizes understanding credit scores, borrowing responsibly, and repaying on time, to build financial discipline
Mahlohonolo Futho from Lesotho
DeleteTeferi Ergabus
ReplyDeleteFrom Ethiopia
Cohort 5 (Batch A)
Group C
Day 4 lesson teachesus that banking and digital finance are not just services—they are your power tools for building wealth, achieving your goals, and securing your future. They provide a safe place for your money, help it grow through savings and investments, and give you the fuel (like loans) to start a business or further your education.
Think of your financial journey like building a house. You wouldn't try to build it with your bare hands; you'd use power tools to build it stronger and faster. Banks and digital finance are your power tools.
Your Bank Account is Your Foundation. It’s the solid, safe base where you store your money. Without it, everything else is risky.
Saving & Investing is How You Build the Walls. It protects you from life's unexpected storms and slowly builds the structure of your wealth, brick by brick.
Digital Finance is Your Super-Toolkit. It’s the fast, efficient power drill and saw that lets you manage everything from your phone—transferring money, paying bills, and investing—anytime, anywhere.
Credit is the Scaffolding. When used responsibly, it helps you reach higher and build bigger projects (like a business or education) that you couldn't build alone right now.
This isn't just about money; it's about freedom. The freedom to make your dreams happen without begging for help. The freedom to be secure. The freedom to lift up your community by teaching others.
You are not too young to start. Every successful person started with a single step. Opening that first account, making that first small transfer into savings—that’s you picking up your tools and starting to build the future you deserve.
Your journey to financial empowerment starts now. You have the knowledge. You have the power. Use it.
Funny chapalapata
ReplyDeleteMalawi
Cohort 5(group e)
Batch B
In this module i have learnt that credit if utilized wisely can read to personal growth but if it is mismanaged it can break our future.
Understanding credit builds a strong foundation for personal and career growth this is when an individual borrow to invest rather than to consume.
There are types of credit which are responsible borrower and also reckless borrower but as a financial literacy ambassador we are to teach others to be responsible in terms of borrowing money, they should develop discipline over the money they borrowed by having plans to pay them back but also borrow for essentials.
Always plan for emergencies before borrowing not only that but also make informed financial decisions to maintain your financial reputation.
Another lesson is that credit has its own benefits which include helping individuals to achieve personal goal but if not managed properly it can bring financial stress.
Tumpale Mkandawire
ReplyDeleteMalawi
Cohort 5
Batch B (subgroup F)
Understanding credit. This module has taught me the importance of us young leaders to understand what credit is for the sake of business, career and personal growth. By definition credit means borrowing money or accessing services with the promise to pay back the money/services. There are several types of credits for example bank credits, personal credits and student credits just to mention a few. This Understanding of credits helps one achieve goals, get employed and also be able to teach others about credits which involves how to understand its components like principle, interest and others.
Rafique William Mponda
ReplyDeleteMalawi
Cohort 5 (Batch B)
Group F
In this module, I've learnt about credit being an essential tool towards success whenever managed effectively. A credit is money borrowed from a lender to be paid back later. For a credit to be issued, the lender issues a credit score to track the history of the borrower. It is the credit score that determines the amount and rates for every borrower. Therefore, it is important to manage your credit below your means to avoid debt and pay your credit on time to increase the chances of getting different loans and mortgages. To build good credit, it is recommended to start early, pay on time and, most importantly, track your credit record by using different applications. Credit is very important as it provides us with numerous opportunities.
Rehannah Labane
ReplyDeleteBotswana
Cohort (Group H)
Batch 5 B
I'm one of the individuals that used to think anything to do with credit is a risk. This lesson was rather enlightening. What's is however risky is maximizing your credit limit, making a credit for something you do not need, not making a payment plan, paying your credit late, not monitoring your credit report.
What stood out for me is that the higher the credit score, the better. At the top of my head I would think having a low credit score is what one should aspire for. I also did not know that in credits there has to be a 'collateral'. This was overall really informative.
Name: BRIAN CHIYANDA
ReplyDeleteCountry: ZAMBIA
MODULE 1
Cohort 5, Batch A
Group A
DAY 5
Understanding Credit
From this module, I have learnt that credit is the ability to borrow money or access goods and services now and pay later, based on trust that repayment will be made. It plays a vital role in helping individuals and businesses access funds, build financial history, and invest in growth when managed wisely. I understood the credit process from application to repayment and review and key terms like principal, interest, collateral, and credit score. I also learnt that a credit score reflects one’s financial trustworthiness, influenced by payment history, credit usage, and borrowing behavior. To maintain a good credit score, it is important to pay bills on time, borrow responsibly, avoid unnecessary loans, and review credit reports regularly.
Ngene Charles Chukwuka
ReplyDeleteNigeria
Cohort 5 (Group G)
Batch A
Credit is the ability to borrow money or access to service now and repay later. When used wisely, it builds trust, opportunity, and financial growth; when abused, it leads to debt traps mistrust. Understanding credit scores, responsible borrowing, and repayment builds financial discipline. As a KAFI leader, teaching smart credit use empowers youth toward financial freedom.
Joana Mongola from Malawi
ReplyDeleteCohort 5
Batch B
Credit means borrowing money or goods now, with a promise to pay back later. It is based on trust that you will repay what you owe. There are different types of credit which are personal credit and business credit. The credit process works like this: you apply for credit, the lender checks your income and past borrowing history, then decides to approve or deny you. If approved, you borrow the money or goods, then repay it over time with some extra fees called interest. Paying on time helps improve your credit score, which shows how trustworthy you are to lenders.
Greciano Hezekiah
ReplyDeleteMalawi 🇲🇼
Cohort 5 Group B
Batch A
Credit is the ability to borrow money or access goods and services now and pay later. It is based on trust where your lender must believe that you will repay what you owe. Understanding how credit works is important for those preparing for adult life, entrepreneurship, or financial independence.
There are different types of credit, such as personal loans, business loans, trade credit, credit cards, and government or cooperative loans. Credit matters because it helps people access funds for important needs like education or business, build a trustworthy financial history, and learn financial discipline.
Hope Malambo
ReplyDeleteZambia
Cohort 5
Batch A
Group B
In this module, I learned that credit is a powerful financial tool that allows individuals to access money or services now and repay later. I now understand that credit is built on trust, and how I manage it determines my financial opportunities in the future. I learned about the different types of credit such as personal loans, business credit, trade credit, credit cards, and government or cooperative loans.
I also learned how the credit cycle works—from application and evaluation to approval, repayment, and review—and why each stage is important. Key credit terms like principal, interest, collateral, credit score, and default became clearer, helping me understand how lenders assess creditworthiness.
The module taught me how a credit score works, what affects it, and practical ways to build a strong score through timely payments, low credit usage, and responsible borrowing. I learned the difference between responsible and reckless borrowers, and why it is important to borrow only for productive purposes that can improve my financial future.
I now understand the common mistakes people make with credit, such as taking unnecessary loans, ignoring interest rates, or missing payments, and how these can lead to debt traps. Real-life case studies also showed how good credit use creates opportunities, while bad credit management limits future possibilities.
Finally, I learned practical ways to teach students about credit using KAFI Club activities like role-playing, credit score games, debates, and loan simulations.
Overall, this module taught me that credit is not something to fear but a tool to manage wisely. With discipline, planning, and responsible borrowing, credit can open doors to education, business growth, financial stability, and long-term success.
NAME: SALIMU RAMADHANI JUMA
ReplyDeleteCOUNTRY : TANZANIA
COHRT 5 ( GROUP F )
SUMMARY:
Credit refers to your ability to borrow money and pay it back later. Building strong credit means managing debts responsibly, paying loans and bills on time, and keeping a good credit history. A strong credit foundation helps you access loans, housing, or even job opportunities more easily.
For personal and career growth, good credit shows that you are trustworthy and financially responsible. Employers, landlords, and lenders often check credit history to assess reliability. Therefore, maintaining good credit opens doors for long-term success and financial stability.
Richard Okoth
ReplyDeleteKenya
Cohort 5
Batch B
Day 5-Module 1
Credit refers to the capacity to access money or goods now with the promise to repay in the future. When managed properly, it becomes a powerful tool that opens doors to financial opportunities, builds trust with lenders, and supports long-term economic growth. However, when misused, credit can easily lead to overwhelming debt and financial stress.
Developing a clear understanding of how credit scores work, how to borrow responsibly, and the importance of timely repayment helps individuals build strong financial habits and discipline.
Rophy Makokha Barasa
ReplyDeleteKenya
Cohort 5 batch c
Maintaining good credit involves ;Always pay on time,Borrow only what you can repay,Keep your credit card balance below 30% of your limit,Avoid unnecessary loans.
Mercy Chunga from Malawi Cohort 5 batch C group J
ReplyDeleteCredit is like a double-edged sword - it can either empower or trap you, depending on how you use it. I've learnt that understanding credit is crucial for young people, as it affects our ability to borrow, invest, and even start a business. It's essential to grasp how credit works, build a good credit score by paying on time, and borrow wisely for productive purposes. By managing credit responsibly, we can unlock opportunities, achieve financial freedom, and teach others to do the same. Ultimately, credit is a reflection of our financial discipline, and using it wisely can fund our dreams and elevate our lives.
Mercy Chunga from Malawi Cohort 5 batch C group J
ReplyDeleteCredit is like a double-edged sword - it can either empower or trap you, depending on how you use it. I've learnt that understanding credit is crucial for young people, as it affects our ability to borrow, invest, and even start a business. It's essential to grasp how credit works, build a good credit score by paying on time, and borrow wisely for productive purposes. By managing credit responsibly, we can unlock opportunities, achieve financial freedom, and teach others to do the same. Ultimately, credit is a reflection of our financial discipline, and using it wisely can fund our dreams and elevate our lives.
Name: Gladys Disemba
ReplyDeleteCountry: Malawi
Cohort 5 (Group I)
In summary
Credit is all about borrowing money or accessing goods and services now and paying for them later. Credit is crucial if managed wisely because it creates opportunities, helps with education, and supports entrepreneurship. When borrowing, there's a need to separate your budget according to your needs and the type of credit you need, e.g., personal or business credit. It's good to start borrowing for important reasons early, as it gives you a credit history that you can use when applying for a job or getting another credit, as it's used to track how faithful you are in repaying. It's also wise to understand the interest rates before making a final decision. Understanding credit will enable young people to teach others how to access and manage it responsibly.
Pascaria Musengya Muthiani
ReplyDeleteKenya
Cohort 5 Batch C Group J
Credit is mirror of your financial discipline. In this module I have learnt that credit is ability to borrow money or being offered goods or services and pay later. Credit managed wisely opens doors for growth and credit mismanaged lead to debt traps and stress. I have understood terms used in credit field and what they mean . There types of credit; personal, business,trade, credit cards and government and loans. The credit cycle involves; application, evaluation,approval and disbursement, repayment and review. I learnt about credit score and it's always advisable to take credit below 30% of credit limit. As a young person I should borrow wisely by borrowing for needs, understand interest rate, create repayment plan, avoid multiple debts and negotiate terms if need be. When teaching students about credit can apply; credit role play, credit score game, class debates and budget and credit challenge. In conclusion credit managed well leads to growth while credit mismanaged leads to debt traps.
Ropafadzo Abigail Tambara
ReplyDeleteCohort 5
Zambia
Everyone at some point in life will credit which is the borrowing of money to pay later or to access goods and services so as to pay at a later date . As youth we suffer a lot of setbacks and can be prone to a lot of credit . This module has taught me that credit is also one of the financial skills needed in financial literacy because it is truly part of life hence one has to know the different types of credit which are personal credit for personal emergencies or needs , business credit for accessing capital for starting a business and trade credit for buying now and paying later for supplies and credit cards monthly repayment and government loan. It is also important to pay credit in time so as to acquire help when needed next time and also to assess if there is a necessary reason to have credit . And also especially on bank credit, it is important to calculate interests so that you measure if you are able to repay the credit . It is also good for one to have a good payment plan that is reliable so that you won’t exceed the date required for payment of settling of credit . Some challenges and unwise things one may do in credit is to borrow without a reasonable purpose and ignoring some interest rates and taking multiple loans at a time and having access to fraudulent lenders who may cause you to end up in double the loss.it is good as Kafi leaders to teach students about credit and to help them learn better there may be some drama or role play in relation to the topic and teach about credit score and also to have assignments that students identify good credit and bad credit
I have learn that credit depends on how disciplined you are with money. When handled well, it can help you grow and reach your goals, but poor management can create stress and limit your choices. As a financial literacy leader am expected to guide others to use credit wisely and build habits that strengthen their financial future.
ReplyDeleteI learn that credit depends on how disciplined you are with money. When handled well it can help me to grow and reach goals but poor management can create stress and limit your choices. As a financial literacy leader am expected to guide others to use credit wisely and build habits that strengthen their financial future.
ReplyDeleteNigeria
ReplyDeleteToka faith ziganubari
Group L
This Module talks about credit and repayment. I learnt that there are several reasons why people take loans and if not handled properly it can cause stress and depression.
Some loans can empower you as a student and help individuals with financial literacy but some credit can create problems.it’s better to calculate interest inorder to measure and be able to repay back. I can remember when as I student I take credit from an Opay app
They didn’t give me space and I had sleepless nights and phone no rest time
With this Module I got the idea to manage and assess credit wisely.
Zechariah kparsuah jr
ReplyDeleteLiberia
Cohort 5
Personal Summary of What I Learned
I learned that credit is a powerful financial tool that allows people to borrow money and repay it later. When used wisely, credit can open opportunities, support business growth, and build trust with lenders. However, when misused, it can create debt problems and make it difficult to access future funding.
Through the examples of Chidera, David, and Aisha, I now understand the difference between good credit use, bad credit use, and smart borrowing. Good borrowers repay on time, keep records, and use loans for productive purposes. Bad borrowing—like taking loans for wants instead of needs—can damage credit scores. Smart borrowing involves planning, discipline, and using credit to grow income.
I also learned practical ways to teach credit to other young people through role play, credit score games, and real-life discussions. As a KAFI financial literacy leader, I now feel more confident in helping students understand responsible borrowing and how good credit can support their financial freedom.
Name; Lesley mutua
ReplyDeleteCountry;Kenya
Cohort 5 Batch C (group L)
I have learned that credit refers to borrowing money or receiving goods and services with the promise to pay later. It is an important tool that helps people and businesses access financial resources, build a track record, and support growth when used responsibly. I now understand how the credit process works—from applying for credit, receiving approval, using it, and eventually repaying it—along with key terms such as principal, interest, collateral, and credit score. I also discovered that a credit score shows how reliable someone is with money, and it is shaped by how consistently they pay bills, how much credit they use, and their general borrowing habits. To keep a strong credit score, one must pay debts on time, borrow within their limits, avoid taking loans unnecessarily, and regularly check their credit reports.
Mamabitsa Lintso
ReplyDeleteLesotho
Cohort 5 Batch C
Group M
From this module I understood how powerful or dangerous credit can be depending on how one handles it. Credit can provide financial flexibility and opportunities if managed well, however it can lead to to bad debt and financial strain in not managed carefully. The key of credit is to understand terms, interest rates and payment obligations before committing.
Good credit shows lender that I am responsible with borrowed money, it include lower interest rates, better loans term and more opportunities. Bad credit on the other hand can lead to higher interest rates, rejected applications and financial stress. As a leader I should teach my students the difference between good and bad credit. Credit should be borrowed for business purposes not for luxurious life.
Mulenga Chola
ReplyDeleteZambia
Cohort 5
I have understood, that credit, brings about stress, and peer pressure also micro finance loans, are places where you can get money and most times you are unable to save, because if you credit mst times you will tend to have bad relationships, but good credits helps you to build and plan well. Bad credit will lead to loss of trust, and lose of displine, you can help yourself by getting less credits and tend to build wisely rather than carelessly. When credits are used wisely there's need to have a peace of mind and have the responsibility of accountability.
Thank you
Name: BAILACK JOICELINE JINDUI
ReplyDeleteCOUNTRY: CAMEROON
BATCH C COHORT 5
COMMENT: From this course, i have learned that Credit is all about acquiring goods to pay on a later date. It can help you build a good future or destroy a good future. The intent of the credit is very important and the course enlightens us to not just to borrow but to borrow responsibly, that is borrow to acquire needs or long-term assets rather than wants.
Because you have access to the money also entails that you manage the money well so it does not lead to bad debts or accumulated debts.
Mloiso Mathews Katete
ReplyDeleteMalawi
Cohort 5(Batch C Group J)
This module has taught me that credit is simply a tool but how you use it determines whether it helps you grow or holds you back. It allows you to access money today and pay it back over time, making education, business plans, and important life goals more achievable. When young people understand how credit works from applying for a loan to repaying it they gain real control over their financial future. Building a good credit score by paying on time and borrowing responsibly opens doors to better opportunities, while careless borrowing, missed payments, or taking too many loans can quickly lead to stress and limited choices. That’s why teaching students about credit through fun, practical activities like role-plays and credit score games helps them learn how to make smart decisions before they face real-life financial pressures. And although fintech has made borrowing easier than ever, it’s still important to read the fine print and stay disciplined. In the end, credit reflects your financial behaviour: use it wisely, and it becomes a stepping stone; misuse it, and it becomes a barrier. A responsible credit culture empowers young people to build stable, confident, and opportunity-filled futures Credit is simply a tool but how you use it determines whether it helps you grow or holds you back. It allows you to access money today and pay it back over time, making education, business plans, and important life goals more achievable. When young people understand how credit works from applying for a loan to repaying it—they gain real control over their financial future. Building a good credit score by paying on time and borrowing responsibly opens doors to better opportunities, while careless borrowing, missed payments, or taking too many loans can quickly lead to stress and limited choices. That’s why teaching students about credit through fun, practical activities like role-plays and credit score games helps them learn how to make smart decisions before they face real-life financial pressures. And although fintech has made borrowing easier than ever, it’s still important to read the fine print and stay disciplined. In the end, credit reflects your financial behaviour: use it wisely, and it becomes a stepping stone; misuse it, and it becomes a barrier. A responsible credit culture empowers young people to build stable, confident, and opportunity-filled futures
Full Name: Jackson J. W. Johnson
ReplyDeleteCountry: Republic of Liberia
Cohort: 5 (Batch C)
I learned that credit is a powerful financial tool that must be managed with discipline and responsibility. It acknowledged that good credit helps unlock better opportunities, lower interest loans, and a stronger financial reputation. I understood the role of fintech platforms in making credit more accessible, but also the importance of reading terms to avoid high-interest traps. Most importantly, I learned that credit reflects how well we manage our finances when used wisely, it empowers; when misused, it limits our progress.
My name is Jackson Mbazima, and I am from Zambia. I am a member of the KAFI Financial Literacy Program, specifically Cohort 5, Batch C.
ReplyDeleteFrom this module, I learned that credit is the ability to borrow money or access goods and services now and pay for them later. Understanding credit is essential for making informed financial decisions. Credit operates on trust, which must be protected in order to continue accessing it.
Your credit score is a numerical representation of your creditworthiness; it indicates how reliable you are with your finances. You can improve your credit score by making timely payments.
Financial technology (fintech) has made credit more accessible by allowing you to access it instantly. However, it also comes with risks, such as scams, fraud, and high-interest rates. Therefore, it is crucial to always verify the credibility of the credit provider. Lastly, credit should not be used to maintain a lifestyle, such as buying fancy clothes, gadgets, or luxury items. Instead, credit should be used to invest in startups or to finance higher education.
Mohamed Shueib Muse
ReplyDeleteSomalia
Entrepreneurship and financial literacy go hand in hand—both rooted in solving problems, creating value, and understanding the people you serve. By studying customer needs, market behavior, and feedback, young entrepreneurs can design relevant solutions, build trust, and achieve sustainable growth. At the same time, mastering credit, banking, and digital finance empowers youth to manage, save, and grow their money responsibly. When used wisely, credit builds opportunity; when misused, it creates debt traps. Banking provides safe tools for planning, avoiding scams, and gaining financial independence. As a KAFI leader, equipping young people with these skills—customer insight, responsible credit use, and smart banking—lays the foundation for confident decision-making, innovation, and long-term financial freedom.
Name: yamikani chaona
ReplyDeleteCountry: Malawi
Cohort 5 batch C
Building and maintaining good credit starts with smart borrowing habits. Always pay on time, borrow only what you can repay, and keep credit card balances below 30% of your limit. Avoid unnecessary loans and review your credit report regularly. Responsible borrowers plan ahead, understand loan terms, repay on time, and keep records, while reckless borrowers borrow impulsively, miss payments, fall into debt traps, and often blame others for financial stress. Your credit reputation is one of your most valuable assets, so always aim to be responsible.
To borrow wisely, focus on loans that meet real needs or improve your future, such as education or business opportunities. Understand interest rates, compare lenders, and create a clear repayment plan. Avoid juggling multiple debts at once and negotiate flexible terms if needed. Common pitfalls include borrowing without a purpose, ignoring interest rates, missing payments, taking multiple loans, and falling for fake lenders. Always verify lenders through official channels to protect yourself from fraud and financial loss.
Victoria Peneme
ReplyDeleteMalawi
Cohort 5 batch C
Credit is one of the most powerful financial conveniences granted to individuals and businesses, but it has to be harnessed responsibly. Understanding the modus operandi of credit-from application through repayment-allows a borrower to make informed decisions toward gaining a sound credit history. Some of the important concepts that will define how easily someone can borrow in the future include interest, collateral, and credit score. Responsible borrowing entails taking loans for productive purposes, paying on time, and not having multiple debts, whereas reckless borrowing results in financial stress and damaged credit. Financial literacy leaders should teach young people how to handle credit wisely through practical activities, giving them the confidence and ability to build good credit habits that open opportunities and support long-term financial success in life.
Josephine Makam
ReplyDeleteNigeria
Cohort B batch C
Lessons on understanding credit
It is a financial tool used to access funds and build financial reputations depending on how one use it
2. It can also be used to invest depending on a person’s financial discipline.
3. Before one borrows you need to understand the credit cycle in order to make informed decision on borrowing
4. I should be a responsible bearer and avoid borrow for intense needs not just for wants
Angela Mpala
ReplyDeleteZimbabwe 🇿🇼
Cohort 5 Batch C Group I
Credit is the borrowed trust that allows access to funds or goods now for future repayment, and it is crucial for building a credit score, which acts as a financial report card (300-850) largely determined by payment history (35%) and credit utilization (30%); to use credit wisely, one must be a responsible borrower, taking loans only for productive needs, understanding the interest rate (cost of borrowing), and always paying on time to avoid pitfalls like debt overload and ensure access to larger, cheaper loans and future financial opportunities.
NAME : PRECIOUS CRISPIN KAMOWA
ReplyDeleteCOHORT: 5
GROUP: P
BATCH: D
COUNTRY: MALAWI
Understanding credit is crucial for navigating the financial landscape effectively. It influences access to loans, interest rates, and even housing opportunities. A solid grasp of credit concepts, including credit scores, reports, and utilization, empowers individuals to make informed decisions about borrowing and spending. Building a good credit history through responsible use, such as timely payments and maintaining low balances, enhances financial credibility.
Additionally, understanding the implications of credit can help individuals avoid pitfalls like excessive debt and poor financial health. Overall, credit literacy fosters confidence and financial independence, enabling individuals to achieve their goals and secure favorable terms for future transactions.
Richard Bida
ReplyDeleteUganda
Cohort 5(batch D)
I have learnt that credit, when managed wisely, can be a powerful tool for financial growth. Responsible borrowing means taking loans only for productive purposes, understanding interest rates, and repaying on time to build a good credit score. I also learnt that poor credit habits such as multiple debts and missed payments can damage financial reputation.
Brima Kargbo
ReplyDeleteSierra Leone 🇸🇱
Cohort 5
Batch-D
Group-N
From this module, I have learnt that credit is the ability to borrow money or access goods and services now and pay later. I also understand that you don't acquire Credit for the purpose of your wants. You can take Credit for Needs only.
Credit is given based on trust that repayment will be made later.
Kunda Ngosa
ReplyDeleteZambia
Cohort 5( Group P)
Batch D
Lesson: Credit simply means borrowing money now and paying it back later. If you use it responsibly—like paying on time and only borrowing what you can handle—it can help you in the future when you need a loan for school, a business, or a home. But if you borrow carelessly or miss payments, it can hurt your reputation and make life harder. Credit isn’t good or bad on its own—it all depends on how you manage it.
Thandiwe Mtonga
ReplyDeleteZambia
Cohort 5
Batch D
Group R
I have always just grown up to hate credit and thought it has to has to be avoided by all means.
But today I have realized that it's not all bad, it only depends on my decisions surrounding my credit which ll either break my finances or build my future.
Even though I always need to understand it properly, T&Cs of the lender especially.and I need. To responsibly borrow with a good plan and with the correct reasons not just pleasure but investment, within my capability to pay back
Gabriel Vitumbiko Nyondo
ReplyDeleteMalawi
Cohort 5
Batch D
I have learnt that credit is a powerful financial tool that can either build my future or break my finances, depending on how I use it. Understanding credit is crucial for young people, as it affects our ability to borrow, invest, and even start a business.
Credit is the ability to borrow money or access goods and services now and pay later, based on trust that repayment will be made. There are different types of credit, including personal loans, business credit, trade credit, credit cards, and government or cooperative loans.
The credit cycle involves application, evaluation, approval, repayment, and review. Key terms include principal, interest, collateral, credit limit, credit score, and default.
A good credit score reflects my financial trustworthiness, influenced by payment history, credit usage, and borrowing behavior. To maintain a good credit score, I should pay bills on time, borrow responsibly, avoid unnecessary loans, and review credit reports regularly.
I have also learnt that, as a responsible borrower, I should borrow for needs, not wants, understand interest rates, create a repayment plan, and avoid multiple debts. I should also negotiate terms if needed and review my credit report regularly.
This means, by managing credit wisely, I can unlock opportunities, achieve financial freedom, and teach others to do the same. Therefore, I have noted thay, credit is a reflection of my financial discipline, and using it wisely can fund my dreams and elevate my life.
Aya Hani
ReplyDeleteEgypt
Chorot 5
Batch D
Summary
Introduction
Credit is a powerful financial tool.
It can build your future or harm your finances depending on how you manage it.
For young people, it’s often the first real test of financial responsibility.
What is Credit?
Credit is the ability to borrow money or access services now and pay later.
It relies on trust that you will repay.
Types of Credit
Personal credit
Business loans
Trade credit
Credit cards
Government or cooperative loans
Why It Matters
Gives access to funds
Builds credit history
Supports education and business growth
Promotes financial discipline
The Credit Cycle
Application
Evaluation of your creditworthiness
Approval and disbursement
Repayment with interest
Review and credit scoring
Key Credit Terms
Principal, interest, collateral, credit limit, credit score, default, installments.
LCredit Score
A financial scorecard ranging from 300–850.
What affects it:
Payment history
Credit utilization
Length of credit history
Types of credit
New credit inquiries
How to build good credit:
Pay on time
Borrow responsibly
Use less than 30% of your limit
Avoid unnecessary loans
Types of Borrowers
Responsible borrower: plans, reads terms, pays on time.
Reckless borrower: impulsive, misses payments, falls into debt traps.
Borrowing Wisely
Borrow for needs, understand interest rates, make a repayment plan, avoid multiple loans, negotiate when needed.
Common Pitfalls
Borrowing without purpose, ignoring interest, late payments, multiple debts, falling for scams.
Real Life Examples
Good, bad, and smart borrowing cases showing the impact of repayment behavior.
Teaching Credit to Students
Role play, credit score games, debates, and project-based credit challenges.
Benefits of Good Credit
Access to cheaper loans, strong financial reputation, easier housing/business approval, peace of mind.
Role of Fintech
Apps like Carbon and Branch provide instant loans but borrowers must read terms carefully.
Conclusion
Credit reflects your financial discipline.
Used wisely, it opens doors. Misused, it limits your opportunities.
Good credit is a habit, not an accident.
ReplyDelete- Full name: Joseph Freeman
- Country: Sierra Leone
- Cohort 5 - Batch D Group O
- Summary of what I've learned: I've learned that credit is a powerful tool that can build my future or break my finances, depending on how I use it. I've learned about the different types of credit, including personal credit, business credit, trade credit, and credit cards. I've also learned about the credit cycle, including application, evaluation, approval, disbursement, and repayment.
I've learned key terms like principal, interest, collateral, credit limit, and credit score. I've learned how to build a good credit score by paying bills on time, keeping credit utilization low, and avoiding unnecessary loans.
I've also learned about responsible borrowing practices, such as borrowing for needs, not wants, and creating a repayment plan. I've learned about common credit pitfalls, such as borrowing without a purpose, ignoring interest rates, and missing payments.
As a financial literacy leader, I'll teach others how to access and manage credit responsibly, including students preparing for adult life and entrepreneurship.
Some key takeaways include:
- Credit is borrowed trust, manage it wisely
- Always borrow for productive purposes
- Protect your credit score by paying on time
- Avoid debt traps and impulsive borrowing
By managing credit wisely, I can achieve financial freedom and empowerment, rather than debt and stress.
Emilly Atieno Oyatta
ReplyDeleteKenya
Cohort 5
Batch D
Depending on how it is used, credit is a potent financial tool that can either lead to opportunities or debt problems. It enables people and companies to obtain products and services or borrow money with the commitment to pay it back later. Making wise financial decisions requires an understanding of the credit process, from application and assessment to repayment and review. Important ideas including interest, collateral, credit limits, and credit scores assist borrowers in managing their obligations and evaluating dangers. While bad habits like missing payments, reckless borrowing, or neglecting interest rates can harm financial stability and future possibilities, good credit management provides access to education, business growth, housing, and cheaper loan prices.
Discipline is important to establish and preserve a high credit score, including making on-time payments, borrowing just what you can afford, limiting credit utilization, and avoiding needless loans. Students and young adults are better prepared to utilize credit responsibly when they are taught about it through role-playing, discussions, and hands-on budgeting activities. Examples from everyday life demonstrate how prudent borrowing may help businesses expand, while careless borrowing results in financial losses. It is now more crucial than ever to comprehend loan terms due to the growth of fintech platforms that provide fast loans. In the end, credit is a reflection of one's financial discipline; with proper management, it may be a tool for long-term development and empowerment.
Hosannah Chavula
ReplyDeleteCohort 5, Malawi
Batch D, Group P
In the module of understanding credit, I have understood that credit when well managed can enable one to Invest in opportunities and build financial reputation but when mismanaged can lead to financial setbacks. One can build good credit by paying on time and only taking loans which can be repayed. I have also learnt that to maintain good credit, one has to focus on reducing balances, maintain emergency funds to avoid unnecessary borrowing. One has to borrow only what is necessary and keep personal and business finance separately. I have understood the difference between a responsible borrow and a reckless borrower and how to borrow wisely like by borrowing for the needs not wants e.g (business, education) ,understanding the interest rates, having credit repayment plan, avoiding multiple debts. In conclusion, credit is borrowed trust, if we'll managed it is a tool for empowerment.
OLERILE PHILLIP
ReplyDeleteBOTSWANA
COHORT 5 BATCH D group Q
Today’s lesson opened our eyes to one of the strongest forces in modern finance: credit. Like we learnt earlier in our budgeting and saving sessions, discipline is the foundation of financial leadership — and credit simply tests that discipline in real life. As leaders, we now understand that credit is not dangerous — undisciplined behaviour is. Our role in schools and communities is to teach others how to use credit wisely, compare loan terms, avoid debt traps, and protect their financial future.
Name: Kalinda lsaac
ReplyDeleteCohort: 5
Country: Zambia
Batch: P
Summary:
The module 5 outline of what credits are, types, their effect on an individual and consequences of considered without the proper reasoning.
The outline of the module, highlights of the broaden understanding of how we need to consider the proper crediting criteria and taking considering steps to each chosen type of credit that takes each one's interest. This was highlighted to be important as it helps one to grow and advance financially due to the reporting action.
Natasha mukupa
ReplyDeleteZambia
Cohort 5
Batch p
Today I have learnt a lot and that is that poor credit habit can led you to problems such high interest rate, denial of a loan and many other . how one can build a good credit habit by not getting more than the person can pay back in time and by sending your loan on investment which will help to pay back.
Building good credit habit help one to have potential employment and have access to loans
Afishetu Allassan
ReplyDeleteGhana
Cohort 5
Batch D
Group R
Summary of what I learnt.
Through this module, I get to understand what credit means which is far different from what I was thinking about .
Infection, today lesson has
Build my confidence to go in and borrow when the need arises but being wise on terms and conditions
of what I borrowed ,how much I borrowed and plans on repayment as well as interest rates.
I also learnt that, once you manage your credit well it build some trust and give you the chance ogmf gaining other financial opportunities. It also gives one a high credit score.therefore we need to borrow money base on needs not for wants.
We should also pay back on time and educate others to on these knowledge learnt
Felix Omondi
ReplyDeleteKenya
Cohort 5
Batch D
I have learnt that credit is a powerful financial tool that allows individuals to access money or services now and pay later, but it must be used responsibly. I now understand the different types of credit such as personal loans, business loans, trade credit, credit cards, and cooperative/government loans. I also learnt how the credit cycle works—from application, evaluation, approval, repayment, to review—and how each step affects my creditworthiness.
The module taught me the meaning of key credit terms like principal, interest, collateral, credit score, and default. I have also learnt what influences a credit score, including payment history, credit utilization, length of credit history, types of credit, and new credit. I now understand the importance of maintaining a good credit score by paying on time, borrowing within my means, keeping low balances, and avoiding unnecessary loans.
I learnt the difference between responsible and reckless borrowers, and the importance of borrowing only for productive needs such as education or business. The module highlighted common credit pitfalls like high-interest loans, missing payments, taking multiple debts, and falling for fake lenders. Real-life examples showed how good credit management can create opportunities, while bad credit can cause limitations and stress.
Fifen Yayee Mefira Cameroon Cohort 4
ReplyDeleteCredit is the ability to lend money or access goods and services and pay for them later. This module teaches us how to prepare our credit ability to better stand a chance to borrow money.
Name: P Stephen H Boimah later.
ReplyDeleteCountry: Liberia
Cohort 5
Batch D
Group Q
I learnt a lot in this module 5, I learned about credit, the ability to lend money or access goods and services and pay for them.
the difference between responsible and reckless borrowers, and the importance of borrowing only for productive needs such as education or business. The module highlighted common credit pitfalls like high-interest loans, missing payments, taking multiple debts, and falling for fake lenders. Real-life examples showed how good credit management can create opportunities, while bad credit can cause limitations and stress.
This lesson is really broad and so educative just as these previous ones. I have learnt that credit is a powerful financial tool that can make me sharpen my future and weaken my financial stability at the same. Of which that depends on how someone is using it. As a young person, having knowledge and clear understanding about credit helps me/you to make proper decisions when it comes on borrowing and also build a wise credit score. I have also noted that, before I borrow I am supposed to plan first on how I will manage to pay that credit or what sources are going to help me in clearing that.
ReplyDeleteName: Abraham Kalinda
ReplyDeleteCountry: Zambia.
Cohort: 5
Batch: D
This lesson is really broad and so educative just as these previous ones. I have learnt that credit is a powerful financial tool that can make me sharpen my future and weaken my financial stability at the same. Of which that depends on how someone is using it. As a young person, having knowledge and clear understanding about credit helps me/you to make proper decisions when it comes on borrowing and also build a wise credit score. I have also noted that, before I borrow I am supposed to plan first on how I will manage to pay that credit or what sources are going to help me in clearing that.
Brian Ouya Bosire
ReplyDeleteKenya
Cohort 5
Batch D
Group Q
I've learnt that credit or loans are not a bad thing, they're not too good either but they're some sort of a necessary evil. Credit is a mirror of one's financial discipline, keeping a good credit score is of great importance and gives you a good financial reputation giving access to more.
Rahila Kwakwai Jimmy
ReplyDeleteNigeria
Cohort-5
Short summary- I learned that credit can lead to death, Credit is money you lend to be paid back at a specific time, credit is good when managed well but if misused it can be dangerous and can lead to poor future.
Rahila Kwakwai Jimmy
ReplyDeleteNigeria
Cohort-5
Short summary- I learned that credit can lead to death, Credit is money you lend to be paid back at a specific time, credit is good when managed well but if misused it can be dangerous and can lead to poor future.
Full name: Miller Mshanga
ReplyDeleteCountry: Zambia
Cohort: 5
Batch: D
Summary of what you have learnt:
Credit is the ability to borrow money or access goods and services now, with the promise to repay later. It can build opportunities or create debt traps depending on how it is managed. Key types include personal credit, business credit, trade credit, credit cards, and government or cooperative loans. Understanding the credit cycle, key terms like principal, interest, collateral, and credit score, and the importance of responsible borrowing is essential. Smart borrowing involves planning, borrowing for productive purposes, comparing rates, creating repayment plans, and avoiding multiple debts.
Full name: Sarah Isaac OLADOKUN
ReplyDelete• Country: Ghana
Cohort 5 q
Summary of what you have learnt:
I have learnt that credit is the ability to borrow money now and repay later, and it works based on trust and discipline. Understanding how credit worksfrom application to repayment helps me make better financial decisions. I also learnt the importance of keeping a good credit score by paying on time, borrowing wisely, and avoiding unnecessary loans. Good credit opens opportunities for business, education, and personal growth, while poor credit limits future options. As a young leader, teaching others how to use credit responsibly can empower them to avoid debt traps and build stronger financial futures.
Full Name: Josephine Makam
ReplyDelete- Country: Nigeria
- Cohort: 5 batch C
- Short Summary: credit is the ability to borrow money which is built on trust
It allows enable one to access funds with aim of repaying back and encourage financial discipline when managed properly
3. As a responsible borrower you need to avoid unnecessary loan
Name: Daniel Deng Aruop Deng
ReplyDeleteCountry: South Sudan
KAFI HUB: Cohort 5
Batch D group O
Summary
Credit is the ability to get loans or goods on loans and you repay them back on either installment or with interest. It include; personal credit, business credit, trade credit, credit cards, government or cooperative loans.
They (credits) exist because we want funds or opportunities.
How to get credit
We access credit by applying for it, evaluated and approved for disbursement as we agree for the terms of repayment. These terms and conditions include, principal, interest, collateral and credit limit, default and installment.
Effects of Credits
Credit score can be affected by many factors such as payment history, new credit and so forth.
Therefore, be a responsible borrower. This is by borrowing for needs not wants and understands the interest rate. Do not be a common credit pitfalls.
There are common Fintech that play big role in credit e.g carbon, branch, Fair money, RenMoney offer instant loans but you must always read terms and conditions because some of the Fintech carry high interest rate if not paid on time.
So, borrow wisely and manage wisely.
Hezekial Marete
ReplyDeleteKenya
Cohort 5
SUMMARY
Credit is the ability to borrow and repay later. When used wisely, it builds trust, opportunity, and financial growth; when abused, it leads to debt traps. Understanding credit scores, responsible borrowing, and repayment builds financial discipline. As a KAFI leader, teaching smart credit use empowers youth toward financial freedom.
Andrew Mufutu Astwenje
ReplyDeleteKenya
Cohort 5
I have learned the following,
Understanding credit.
Kkey terms
Types of borrowed
How to makebro wisely
Common credit pitfall
Benefits butof a good credit management
Role of Fintech in credit
Andrew Mufutu Astwenje
ReplyDeleteKenya
Cohort 5
I have learned the following,
Understanding credit.
Kkey terms
Types of borrowed
How to makebro wisely
Common credit pitfall
Benefits butof a good credit management
Role of Fintech in credit
Name: fatuma juma
ReplyDeleteCountry: kenya
Cohort 6
Batch B
Group j
From my understanding, credit is the ability to borrow money which is to be payed later.
This can be personal credits, government loans, business depending on who you are.
Credits works in this ways:
- application where you send all the requirements before being considered.
- evaluation and by this you check the credit criteria if you can pay back or if the interest matches your ability.
- approval this is where they check if your requirements meets their needs
- repayment make sure you pay back.
Credits allows you to invest, you can also access funds when needed.
You have to be a responsible borrower in that you should be able to pay for that credit.
Then also Learn to borrow wisely. Not just for pleasure but something good.
Nzifac Miriam
ReplyDeleteCameroon
Cohort 6
I have learned that, credit can make you grow or bring both you and your business down.
I've learned and understood the different types of credit being..
- Personal Credit
-Business credit
Trade credit
-Government or Corporative Credit
In addition to that,my view towards credit has changed because,I didn't use to take into consideration intest rate, credit worthiness of the borrower and credit scores.
But studying this module has helped me grow.
Thank you
Frankline Gor
ReplyDeleteKenya
Cohort 6 Batch A
Credit is the ability to borrow money,good or services and pay at a later date. Credit is not just test of how much we can get but how discipline we can be with it. To build a good credit score we have to borrow,spend wisely and repay on time. Reckless borrowing leads default or overload this affect our future credit. We should have clear plan of the use before borrowing and set clear repayment plan.
Name:Doreen Kajuju
ReplyDeleteCountry:Kenya
Cohort:6
Group:C (Curious Minds)
Batch :A
I have learnt that credit is borrowed trust and how it is managed determines whether it builds or destroys one’s financial future. Credit allows individuals and businesses to access opportunities such as education, entrepreneurship, and asset building, but it requires discipline, planning, and responsibility. I now understand the different types of credit, how the credit cycle works, and key terms like interest, principal, collateral, and credit score. I have also learnt that a good credit score is built through timely repayment, controlled borrowing, and avoiding unnecessary debt. Responsible borrowing leads to better opportunities and financial confidence, while reckless borrowing results in debt traps and stress. Overall, credit should be used as a tool for empowerment and growth, not for impulsive spending, and as a financial literacy leader, I have a responsibility to teach others how to use credit wisely.
Name:irine masal
ReplyDeleteCountry:Kenya🇰🇪
Cohort:6 batch A(group F)
I have learned that credit is the ability to borrow money or any other goods in which it's required to be paid later.
As it's stated that credit might lead to loss or benefits considering the method used by the individual involved.
Good credit is not about how much you can borrow, it’s about how well you manage what you owe.”
Kodjo Nukunu Emmanuel ADOGLI
ReplyDeleteTogo
Cohort 6
Batch A
Credit is a mirror of our financial discipline. When managed wisely, it gives a good feedback on us. This lesson has helped me understand Credit as not an enemy, but as a mirror reflecting my financial abilities.
Name: Brivin Muia
ReplyDeleteCountry: Kenya
Cohort:6
Batch: A
Short Summary:
Credit is the ability to borrow money or goods and pay for them later.
Credits helps us access funds when in need, encourage financial discipline and allows us invest wisely.
As KAFI leaders we should understand and train others on how credit works from application, evaluation, approval & disbursement, repayment and review.
we should consider having a good and positive credit score. we should be good borrowers by paying on time, plan before having credit and keep records.
Name: Noragbai P Naimah
ReplyDeleteCountry: Liberia
Cohort 6 (Batch A)
Group C
SUMMARY OF WHAT I LEARNED
From this section, I learned that credit is the ability to borrow money or access goods and services now and pay for them later, and it is built on trust. Credit can be used for personal needs, business growth, education, and development, but it must be managed responsibly. I learned about the credit cycle, which includes applying for credit, lender evaluation, approval, repayment, and review. Each stage affects a borrower’s future access to credit.
I also learned that a credit score reflects how responsible a person is with borrowed money. Paying on time, borrowing only what can be repaid, and avoiding multiple debts help build a good credit score. Responsible borrowers plan before borrowing and keep records, while reckless borrowers often fall into debt traps. Overall, credit is a useful financial tool when used wisely, but misuse can lead to stress and limited opportunities.
- Full Name: Sebabatso Makhetha
ReplyDelete- Country: South Africa
- Cohort:6 (Batch B)
- Short Summary:
In this module I learned that credit is a powerful financial tool that can either create opportunities or cause serious financial problems, for us young leaders and this all depends on how we manage it, and that there are different types of credit such as personal, business, credit cards, vehicle and government or cooperative loans. It further helped me understand why credit is important for things such as education, business growth, and building a stable and sustainable financial future. It also taught me credit terms and the meaning of credit scores by showing me how payment history, credit usage, and borrowing behavior impact future opportunities for us young leaders. However I also learned that developing good credit habits such as paying on time, borrowing within limits, and avoiding unnecessary debt is important.
NAME:NIYIBITANGA STRATON
ReplyDeleteCOUNTRY:BURUNDI
COHORT:6
Credit is known as the ability of borrowing money from banks or financial institutions.If this money is wisely used,it help invest in businesses,build your wealth but also paying credit on time,it build your confidence and lead you to getting more or huge amount of credit in future.
This module helped us to tackle some key elements related to create.These are for instance types of credit,its important in financial literacy,cycles of the credit,factors affecting the credit score,some tips on building a good credit score and different types of borrowers. This module also skilled us that always we have to borrow loans when there is a need of it and strategy paying it on time.we have also been instructed that we can avoid borrowing more credit,instead.we have to focus on the first one.As said before,paying credit ob time is critical as it guides you to a second credit on a cheap rate and built in you a strong financial reputation.
To conclude,a good credit is not a huge amount of credit but the capacity of management on how you use it.
- Full Name: Tendaishe Mangena
ReplyDelete- Country: Zimbabwe
- Cohort: 6 Batch A Group E
- Short Summary: Understanding Credit:
I've learned that credit is the ability to borrow money or access goods and services now and pay for them later, based on trust that repayment will be made. Credit can be a powerful tool for financial growth, but it requires discipline and responsibility.
Key takeaways from the lesson include:
- Credit can be used for personal, business, or trade purposes.
- A good credit score is essential for accessing larger and cheaper loans, and it's built by paying bills on time, borrowing responsibly, and avoiding unnecessary debts.
- Responsible borrowing means planning ahead, understanding loan terms, and repaying on time.
- Credit should be used for productive purposes, such as education or business, rather than for wants or impulsive spending.
- Fintech platforms have made credit more accessible, but it's essential to read and understand loan terms carefully.
I've also learned about the importance of teaching others about responsible credit management, and how it can help them achieve financial freedom and stability.
Full name: Abariche Emelia
ReplyDeleteCountry: Ghana
Cohort: 6
Batch: A
Summary of what I have learnt:
I have learnt that credit is a powerful financial tool built on trust and discipline, and it can either create opportunities or cause financial hardship depending on how it is managed. Credit allows individuals to access money, goods, or services now and pay later, but it requires responsible borrowing, clear purpose, and timely repayment. Understanding key credit terms, the credit cycle, and how credit scores work is essential for maintaining a good financial reputation. Good credit management involves borrowing only for productive purposes, understanding interest rates, planning repayment, and avoiding multiple or impulsive loans. I have also learnt that fintech has made credit more accessible, but it must be used cautiously due to high interest risks. Overall, good credit opens doors to education, business growth, and financial freedom, while poor credit closes opportunities.
Full Name: Teddy Sikakena
ReplyDelete- Country: Zambia
- Cohort: 6
- Batch: A
Group E
To build a good credit score, one must always pay bills on time, borrow only what can be repaid, avoid unnecessary loans, and keep credit use below 30% of the limit. A good credit record makes it easier to get affordable loans, start businesses, or invest in education.
The module also taught me the difference between responsible and reckless borrowers, emphasizing the need to borrow for productive purposes only. I learnt to avoid common credit pitfalls like borrowing without purpose, missing payments, or dealing with fake lenders.
Finally, I learnt that Fintech platforms such as Carbon, Branch, and Fair money have made credit more accessible, but users must always read and understand loan terms. Overall, credit is a tool that, when used wisely, builds financial freedom but when misused, it leads to debt and financial stress.
Name: Ongezwa Mlambo
ReplyDeleteCountry: South Africa
Corhot: 6
Batch: A. Group:D
Wasted money never return, it's a lost money that wasn't or was expected. That's why we have to spend carefully. Unpaid debt is a bad review for your image course it closes many doors. More specially when you have dreams of owning business, then you'll live a shattered dreams course it might not happened.
Borrow money for the good course, is building yourself for better.credit score is very important, whenever you want to do anything, they'll always check your credit score, be disciplined, value your vision, work towards building a better life for yourself.
Name: Christine Ndunge
ReplyDeleteCountry: Kenya
Cohort: 6
Batch: B
Through this module, I have learned that credit is borrowed money that must be repaid later, and it can either help or harm your finances depending on how you use it. Credit is based on trust, and paying on time helps build a good credit score, while missing payments damages it. I have also learned that borrowing should be for important needs like education or business, not for wants. When used wisely, credit creates opportunities, but when misused, it leads to debt and stress.
Name : Ntsane Mosanteli
ReplyDeleteCountry: Lesotho🇱🇸
Cohort: 6
Credit is one of the most powerful tools in modern finance. It can build your future or break your finances, depending on how you use it.
For young people, credit often becomes the first real test of financial responsibility. It determines how easily you can borrow, rent, invest, or even start a business.This module helps you understand what credit means, how it works, and how to use it wisely to create opportunities instead of debt traps.
As a financial literacy leader, understanding credit will enable you to teach others how to access and manage it responsibly especially students preparing for adult life and entrepreneurship.Credit is the ability to borrow money or access goods and services now and pay for them later.Credit can be done in various ways which are Personal Credit,
Business Credit,Trade Credit,
Credit Cards,Government or Cooperative Loans. Credit helps
one to access to funds when needed.Understanding the credit process helps you make informed borrowing decisions.As a young leader in financial literacy, your duty is to educate others on how to build good credit habits that lead to freedom, not bondage
.Bearing in mind that we shouldn't borrow money for wants but needs
Audrey Mutale
ReplyDeleteZambia
Cohort 6
Batch A
Credit is one of the financial tools used in financial literacy. Credit creates trust if you are able to pay back.
Credit involves, principle, interest.
Credit scores acts as a guide whether you will be able to pay back money.
I have come to understand that credit must be recorded inorder to keep track of your credits.
Good credit increase chance for students loans, employment opportunities, financial securities.
Poor credit can affect jobs, rentals, miss employment among others.
If not managed well it can lead to credit stress.
Credit must be paid before or at the due of the credit. This helps build trust and confidence.
Maintenance of credit requires discipline and this can help reduce the credit score.
I have learnt that I should not borrow unnecessary and I should borrow what I am able to pay back.
As a teacher I must teach students to manage credit, share stories for good and bad credits.
Borrowing excessively leads to credit stress.
Credit is a tool for young people like me, and I must borrow wisely, borrow for growth not consumption because good credit opens doors to empowerment.
This knowledge helps build strong opportunities, teach others to manage credits like students and also acts as an opportunity for long term goals because I can be able to create other opportunities and generate income from them.
Full Name: Claytos Chimoto
ReplyDeleteCountry: Zimbabwe
Cohort: 6
Batch: A
Credit is a powerful tool that empower youths. It need responsible borrowing to ensure it do not detrimentally affect youths health. Credit comes in bank, personal and education loans. It is great to have a good credit score and mix. Good credit increases chances for financial security. Poor credit result in credit denials. Building good credit require borrowing within your limit, starting early and have payment reminders. Credit for young entrepreneurs need credit to boost their business ideas. Unresponsible credit result in stress and harm financial reputation. Borrowing should strictly for growth not consumption.
Kevin Wamalwa Manyonge
ReplyDeleteKenya
Cohort6 Batch A
What I have learnt in summary:
Understanding credit, credit means the ability to borrow money acces s goods and services and repay for them later.
Types of credit, personal credit, business credi and government loans,
Important of credit include enables accessibility of funds when needed,helps build credit history.
Credit score means a financial report that tells leaders how trustworthy you are with money.
How to build good credit score such us review your goals reports and avoid unnecessary loans,
Finally how to borrow wisely is through avoiding multiple debts and create repayment.
Name : Mercy Kasaya
ReplyDeleteCountry: Kenya
Cohort: 6 Batch A
This topic explains what credit is and how it works, including loans, interest rates, and repayment terms. It emphasizes responsible borrowing, timely repayment, and maintaining a good credit history to support financial stability and future
Name: Jasper Opio
ReplyDeleteCountry: Uganda
Cohort 6 (KAFI GROUP A)
In this session, I gained a deeper and more practical understanding of credit and its role in personal and business financial growth. I learned that credit is not simply borrowing money, but a financial tool that must be used wisely and responsibly.
This session helped me understand different forms of credit, how interest works, and the importance of repayment discipline. I realized that good credit management can open doors to opportunities such as business expansion, asset acquisition, and financial stability, while poor credit decisions can lead to long term financial stress.
One key lesson that stood out to me was the importance of borrowing with a clear purpose and plan. Before taking credit, it is essential to assess one’s ability to repay, understand the terms and conditions, and ensure that the credit will generate value rather than burden.
Overall, this module changed my mindset about credit. I now see it as a strategic financial resource, not quick money. The lesson has strengthened my commitment to making informed credit decisions that support sustainable growth and financial independence.
Full name: Shamim Chatama
ReplyDeleteCountry. : Malawi
Cohort. : 6
Batch. : B
Group. : I
Through this module, I have learnt that credit is a powerful financial tool that must be handled with discipline, purpose, and knowledge. Credit is essentially borrowed trust, and how I manage it today determines my future access to opportunities such as business growth, education, or asset ownership. As a Malawian woman navigating both work and entrepreneurship, I now clearly understand the credit cycle—from application to repayment—and the importance of key concepts such as interest, collateral, credit limits, and credit scores. The module emphasized that responsible borrowing means taking loans only for productive purposes, planning repayment in advance, and avoiding impulsive or multiple debts that can easily lead to financial stress. I also learnt how good repayment behaviour builds a strong credit reputation, while poor decisions can close doors for years. Overall, this module strengthened my ability to use credit wisely for growth rather than consumption, and equipped me with practical knowledge to guide students and community members through KAFI Clubs to view credit as a tool for empowerment, not a trap.
Aaron Mlenga
ReplyDeleteMalawi
Cohort 6 Batch A
I learned that credit means borrowing money and agreeing to pay it back later, and it is based on trust. When used wisely, credit can help people achieve their future goals, but when misused, it can cause serious financial problems. I learned about different types of credit, how the borrowing process works, and the importance of maintaining a good credit score. The module also focused on borrowing responsibly, avoiding debt traps, and understanding interest rates and repayment plans. Overall, I learned that careful credit management creates opportunities, while poor credit practices can limit financial progress, making it important for young people to use credit responsibly.
Full Name: Owino Mercy Atieno
ReplyDeleteCountry: Kenya
Cohort: 6
Credit allows us to access goods and services and pay later.
It is important for young people to understand the different types of credit available and use them wisely.
Credit should not be a gate way to impulse buying.
Monitoring expenditure is important in ensuring credits are used for needs and not wants
Bora Rwarinda
ReplyDeleteUganda
Cohort 6 Batch A
I learned that credit means borrowing money or getting something now and paying for it later. Credit is based on trust, so how you repay determines your future opportunities. When credit is used well, it can help someone start a business, pay for education, or handle emergencies.
I also learned that not all borrowing is good. It is important to borrow only for useful purposes and only what you can repay. Paying on time helps build a good credit score, while late payments and many loans at once can damage your financial future.
Lastly, I learned that young people must be careful with loans, especially digital loans, because high interest can cause debt problems. With good planning, discipline, and honesty, credit can be a helpful tool, not a burden.
Name: Sheril Achieng Olal
ReplyDeleteCountry: Kenya
Cohort: 6
Batch: B
Group:6
I have learned that credit is a powerful financial tool built on trust, and its impact depends on how responsibly it is used. Credit allows individuals to access opportunities such as education, business growth, and asset building, but poor management can lead to debt traps and financial stress. Understanding how credit works, including interest, repayment, and credit scores, is essential for making informed borrowing decisions. I also learned the importance of being a responsible borrower by planning before borrowing, paying on time, avoiding unnecessary loans, and protecting one’s credit reputation. Overall, good credit management opens doors to future opportunities, while bad credit closes them, making financial discipline and education key to long-term financial freedom.
Alexander Ogbolu from Nigeria 🇳🇬
ReplyDeleteCohort 6 Batch A
This lesson taught me that credit is a financial tool reflecting one's discipline. It involves borrowing now to pay later, guided by trust. For example, borrowing for a tailoring machine to grow a business is wise, unlike impulsive loans for a phone. A credit score, shaped by payment history and credit use, acts as a financial report card. Responsible borrowing means taking loans for needs, understanding terms, and repaying promptly. Managed well, credit unlocks opportunities like larger loans; mismanaged, it causes debt traps. Credit empowers when used prudently, turning trust into tangible growth.
Name. Paul Ochieng Otieno
ReplyDeleteCountry Kenya
Cohort 6
Batch b
Group j
This module focuses on understanding credit and its role in financial growth. Credit refers to money borrowed with the agreement to repay it later, usually with interest. The module explains different types of credit, including bank loans, mobile loans, SACCO loans, and trade credit. It highlights why credit matters, such as helping individuals and businesses meet urgent needs, invest, and grow financially when used responsibly. The credit cycle is also discussed, showing the process of borrowing, using, repaying, and building a credit history. Finally, the module identifies different types of borrowers, including responsible borrowers who repay on time and high-risk borrowers who misuse credit, emphasizing the importance of good credit behavior
Juliet Mwatsaka
ReplyDeleteKenya
Cohort 6
Batch B
From this module I have learnt that
Credit is the ability to borrow money or goods and services and pay later.
Have learnt about the procedure of getting credit facilities.
We have good borrowers and reckless one.
Responsible borrowing includes borrowing for needs, understanding the interest rate and paying on time.
- Nome completo: Fátima Jeremias Mimbire
ReplyDelete- País:Moçambique
- Turma:cohort 5 group O
- Breve resumo: neste modulo entendi que se Usado com sabedoria, o crédito pode financiar seus sonhos, expandir seus negócios e melhorar sua vida.
Usado de forma inadequada, pode limitar suas opções e causar estresse desnecessário.
Como jovem líder em educação financeira, seu dever é educar os outros sobre como construir bons hábitos de crédito que levem à liberdade, e não à escravidão.
PRINCESS OTUMANYE
ReplyDeleteUGANDA
COHORT 6
BATCH B
Credit is the ability to borrow money and access goods and services and make payments later. It is usually granted on assumption that you will repay on time. One can use credit to build their credit history for future opportunities and if it's used appropriately, it opens up more opportunities. The module highlights the credit cycle and the key terms used in credit including a credit score which is a rating for credit worthiness or how trustworthy you are with money. It is determined based on repayments history, how you utilize credit, types if credit and the number of loans outstanding. It is good for anyone to repay credit timely and avoid unnecessary loans to build a good credit reputation. Between a responsible borrower and a reckless borrower, we should aim to be the former.
We should borrow for needs not wants, understand the repayment terms and negotiate where possible, have a repayment plan and avoid multiple debts.
Having the ability to manage credit well helps to attain more credit easily and build financial confidence. Credit is an empowerment tool if managed well. It is not about how much you borrow but how well you manage it.
FinTechs make access to credit Easy but usually at higher rates. Hence it is good as a responsible borrower to read terms critically.
Name : Ijeoma Joy Ezegbulam
ReplyDeleteCountry: Guinea
Cohort: 6 ( Batch A)
Summary from Module 5 – Understanding Credit:
I learnt that credit is the ability to borrow and repay later. When used responsibly, it builds trust, access to opportunities, and financial growth. Misuse of credit, however, can lead to debt traps. I also understood the importance of credit scores, managing debt wisely, and how responsible borrowing builds a strong financial reputation.
KAFI Hub Day 5 Assignment.
ReplyDeleteFull Name: Emmanuel Nyae
Country:Kenya
Cohort:6
Batch: B
Summary:
Understanding credit is crucial for financial responsibility and independence. The boot camp emphasizes the importance of credit as a tool for creating opportunities rather than falling into debt traps. Credit allows consumers to acquire goods or services before payment, with the expectation of future repayment, often involving fees or interest. Building credit should start early, as it takes time to establish a good credit history, which is essential for borrowing, renting, investing, or starting a business. The foundation advocates for borrowing to foster growth, not consumption, and stresses the importance of having a repayment plan and avoiding high-interest loans. Financial literacy, including understanding credit, empowers individuals to manage money wisely, avoid debt, and build financial freedom.
Musuba Bishonga
ReplyDeleteZambia
Cohort 6
Key take away
Credit is a powerful financial tool that can either build opportunities or create debt traps, depending entirely on how responsibly it is used; at its core, credit is borrowed trust allowing you to access funds now for needs like education or business while promising future repayment and your credit score acts as a lifelong report card that lenders use to gauge your reliability, making it essential to borrow only for productive purposes, understand and compare interest rates, create a clear repayment plan before taking any loan, and always pay on time to protect your score, as disciplined credit management opens doors to larger loans and better terms, while reckless borrowing leads to damaged reputations and financial stress, ultimately teaching that credit is a test of financial maturity that rewards those who use it as a planned tool for growth rather than an impulse for immediate wants.
Full name: Shatulo Chikumbe
ReplyDeleteCountry: Zambia
Cohort: 6
Batch: A
Group: D
Credit is getting money or goods and services now and paying later. Credit can be good or bad. Good credit means using it for education, business or getting assets. Bad debt on the other hand is using money for pleasure like partying or buying a luxurious phone. It is important to teach peers, communities and students that good debt can change one's life for the better.
Name: Gift GERLAD
ReplyDeleteCountry: Malawi
Cohort 6(batch B)
Credit is opportunity of getting money, goods or services and pay them later. Credit can be helpful if it's well managed and can used to build strong financial back bones for young people if it used in starting or expanding a business, paying for school fees and investing in property and rentals.
Credit can also bring some difficulties if mismanaged, some of problems that can be results mismanaged credit is financial stress due to unpayed debts
Akem Aurelia Njang
ReplyDeleteCameroon
Cohort 6 B
Credit is a powerful tool that can open doors or create debt traps. It’s all about trust and discipline, borrow wisely, repay on time, and focus on needs that build your future. As a financial literacy leader, understanding credit helps you guide others, especially students, to use it responsibly and turn it into a tool for opportunity, not stress.