Q: What is meant by Consumer Finances and what are its sources?
Ans: Consumers finance is also termed as ‘personal finance’ or ‘Domestic Finance’. The consumers finance is provided either from income or through different kinds of loans.
SOURCES OF CONSUMER FINANCE:
If the consumer finance is thieved through loans, the following sources are available:
1. HIRE PURCHASES:
2. CHARGE ACCOUNT:
3. CASH LOANS:
4. CREDIT CARDS:
5. REAL ESTATE LOANS: