Surely they have seen that Christmas shopping stores that are not empty and that people are still buying. The reason? The use of credit cards that allow you to “fill their pockets” and increase Chile’s debt. Some experts even talk about that could mimic the financial crisis that hit U.S. consumers and that caused the sub prime crisis we all now know. But on the track with the national reality, the truth is that politicians have expressed concern about this issue.

Socialist Senator Jaime Naranjo and Carlos Ominami presented a project to curb the high debt in which they cause in Chile as the two lowest income quin tiles allocate in 2006, 67.10% of their income to pay debts. According to the Superintendence of Banks and Financial Institutions to March 2008 total card debt amounted to U.S. $ 9,385,000, of which 6530 million related to commercial firms and U.S. $ 2,855,000 to the banking institutions.

Of this debt, approximately 24% are in arrears, which is about 2180 million dollars. Of this amount, 1885 million related to commercial firms (86.5%) and 295 million dollars to the bank plastics (13.5%).

This project aims to prohibit senators commercial house and bank and financial institutions issue credit cards and without consultation. That is, only able to provide the type of card when someone has shown a willingness to apply.

The initiative also provides credit cards to prevent minors without written permission from their parents. Meanwhile, according to the National Institute of Youth, Injure, 1.2 million young people between the year 15 and 29 are outstanding.

We are getting dangerously close to the dreaded “financial plan” of our business plan. As we continue studying, the market should get to know some terms related to economic and financial performance of our future business.

This new section has become to some economists is not even trying to do a course in accounting and finance. I think the most successful is that eventually, we delegate these functions in personnel prepared for it (an advisory, for example).

However, it is essential to know and understand the financial economy of a company in order to make correct decisions.

I decided to start with the assets and liabilities because they are terms that we find very often. They are accounting terms that are used to determine the real estate business through the balance sheets.