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Credit Cards and Debt

Description: 

Students will learn about credit cards and how they can effect their financial security. 

Learning Targets: 
Understand how credit cards work
Discuss the pros and cons of using credit cards
Identify how a credit score is determined and how a credit score can affect the ability to obtain financing.
Analyze how monthly payments and interest rates effect the length and payoff amount of an item purchased with credit.
AttachmentSize
File Personal Finance-Credit Cards.docx21.18 KB
Author: 
plaxtod
Content Area: 
Elective Subjects
Language: 
English
Resource Type: 
Lesson
Licensing: 
Creative Commons Licence
Grade: 
9-12
Tags: 
Personal Finance
Credit Cards
WCS

Student prerequisite skills and knowledge

Students should be in at least 10th grade and starting to think about managing their personal finances.  

What concepts or procedures are being explained or demonstrated in this lesson object?

  1. Understand how credit cards work
  2. Discuss the pros and cons of using credit cards
  3. Identify how a credit score is determined and how a credit score can affect the ability to obtain financing.
  4. Analyze how monthly payments and interest rates effect the length and payoff amount of an item purchased with credit.

What was your experience, both successes and challenges, using this lesson object with your students?

Students enjoyed learning about credit cards because they feel it directly effects them.  Students were surprised by how much interest is charged when items are placed on a credit card.