By Roy B. Westerfield,
Professor of Political Economy, Yale University

Revised by Frank Adams, Copy Editor

(Published April 1945)

Introduction

• But is it really as simple as that?
• Can’t a loan be a wise investment?

What Is Debt?

• The other side of the picture
• Can you get into debt without borrowing?

What Does It Cost to Default?

• How about the bankruptcy laws?
• How does the word get about?
• Do you want your own business?
• Are good intentions legal tender?
• How many kinds of debt are there?

What Is Consumer Credit?

• What does consumer credit do?
• Is this an evil?
• Is our standard of living supported on credit?
• You can’t buy a car and eat it, too

Does Debt Influence the Way You Live?

• A hard way of saving
• How does debt affect character?
• Can the government do anything?

Do You Like Charge Accounts?

• How about the installment system?

Do You Ever Need Cash in a Hurry?

• Loan sharks
• Personal loan companies
• Personal loan departments of banks
• Insurance policy loans
• Industrial banks

How Much Does Consumer Credit Cost?

Buying a Home

• Is it better to buy or rent?
• But on the other hand
• How are you going to pay for it?
• Fixing up the old homestead
• Where else could you turn?
• Installment purchase loans

What about Producer Credit?

What Does the Government Offer You?

• Who is eligible?
• How does he get it?
• What are the terms of the loan?
• Where does the veteran get a loan?

What Kinds of Loans Are Guaranteed?

• Home loans
• Farm loans
• Business property loans

What Are the Rules and Regulations?

• Look out for the con man

To the Leader

• Possible approaches
• Practical discussion materials
• Questions for discussion

Suggestions for Further Reading