It is the Season One Finale of Money On Our Mind!
In this episode, we discuss what you can do if you find yourself in too much debt. We use the Evergrande Group as an example. The company is in trouble, they have a mountain of debt. Evergrande is one of China's largest real estate developers but has also invested in many other types of businesses in China - like electric vehicles, sports teams, and theme parks. Evergrande kept borrowing more money to fund these projects and now can’t pay it back.
According to Reuters, Evergrande, which has more than $300 billion in liabilities and 1,300 real estate projects in over 280 cities, missed a third round of interest payments on its international bonds.
We discuss creating a plan for your personal debt repayment. We also talk about personal budgeting to avoid debt.
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