Vocabulary
finance charges
consumer debt
wants vs. needs
credit line
interest rate |
minimum balance
true cost of credit
home equity loan
unsecured debt
credit score |
credit report
zero balance
immediate gratification
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Before Viewing
Poll your students and find out how many have received credit card applications and how many currently have a credit card.
Take the online credit card card quiz at the Credit Card Simulator site. This can be done as a group activity online or you can copy the quiz questions and do this as a paper and pencil activity.
During Viewing
Pause video at 5:04 when Dan Hebert from the NH Jump$tart Coalition states that American teens are a 169 billion dollar industry. Have students discuss the types of purchases they make. Are their purchase wants or needs? If they had access to credit would they spend more? Dan Hebert stated that the average teen spends $91 per week, does that figure hold true for your class?
Pause video at 20:24 and have students list some of the tips on using credit cards wisely that were discussed during the interview with Becky Palmer of the Consumer Credit Counseling Service of NH and Vermont, Inc.
After Viewing
Play the online credit card card game at the Credit Card Simulator site or try the Credit Card Activity from math teacher Kimberly Rust that asks students to create and then charge to a fake credit card and watch how interest accrues.
Have students visit the CardWebsite and research credit cards. |
Students will be able to explain why it is a good practice to pay off a credit card balance every month.
