W03 Case Study: Eliminating Debt

In addition to the concerns related to the Chiramba's day-to-day survival, the lack of financial goals and the burden of informal debts contribute to their fragile financial situation. However, there are opportunities to chip away at their debts. Small-scale entrepreneurship opportunities, such as cultivating a home garden, raising chickens, or engaging in small-scale farming, present avenues to generate additional income that can be directed toward debt reduction. By adopting a proactive stance, the Chirambas can begin to foster a sense of financial liberation. Eliminating these debts is not merely a financial endeavor; it's a transformative step towards unlocking the potential for future investments and securing a more resilient financial foundation for the family's well-being.

The table below lists the Chiramba Family’s assets and debts. Use this information to help with your Week 3 case study activity worksheet.

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