When it’s used as a personal finance term, “debt burden” refers to your cost of borrowing money. Each of the ways you borrow money – credit cards, home mortgages, car loans and student loans are the most common – will incur some type of finance charge, and sometimes a given debt or credit account will incur multiple types of charges.
In addition to an interest charge, there may also be account servicing fees, transactional fees, as well as late fees if you don’t make payments as required by the terms of your loan.
It’s important to distinguish between your debt... Articles Tagged ‘debt burden’
What is Debt Burden?
When it’s used as a personal finance term, “debt burden” refers to your cost of borrowing money. Each of the ways you borrow money – credit cards, home mortgages, car loans and student loans are the most common – will incur some type of finance charge, and sometimes a given debt or credit account will incur multiple types of charges.
In addition to an interest charge, there may also be account servicing fees, transactional fees, as well as late fees if you don’t make payments as required by the terms of your loan.
It’s important to distinguish between your debt...
Wednesday, April 24th, 2013
When it’s used as a personal finance term, “debt burden” refers to your cost of borrowing money. Each of the ways you borrow money – credit cards, home mortgages, car loans and student loans are the most common – will incur some type of finance charge, and sometimes a given debt or credit account will incur multiple types of charges.
In addition to an interest charge, there may also be account servicing fees, transactional fees, as well as late fees if you don’t make payments as required by the terms of your loan.
It’s important to distinguish between your debt... 
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