This lesson provides awareness of the vocabulary used when discussing credit cards. Students search for vocabulary words in a credit card offer. Each student defines the terms, then relate them to one another in the sample credit card offer. Afer the definitions are completed, they create a graphic organizer, either electronically, such as Popplet, or by hand

There is lots of flexibility with this unit. Although it may seem small, this unit allows teachers and students explore topics in greater depth in a lecture/small group discussion format, online discussions, or student led lessons. This resource covers sources of credit; advantages/disadvantages of credit; credit records,reports, & management; consequences of poor credit; and bankruptcy.

The strength of this unit is the flexibility it provides for teachers and students. The structure of this unit allows for a variety of instructional stategies to be utilized.

Estimated Lesson Time: 140 Minutes

Students will be able to:
-Name the components of a credit score and how they’re calculated, with a specific focus on credit utilization rate
-Describe how credit score impacts the ability to borrow money and at what rate
-Understand the implications of a thin file and how they can build credit and improve their score
-Summarize the rules contained in the Equal Credit Opportunity Act

ANSWER KEY LINKS: Create a Next Gen Personal Finance (NGPF) account to access answer keys. They will be listed under the Full Year Curriculum tab.

Students will be able to:

-Choose whether a debit or credit card is appropriate for different situations
-Explain how a person can use credit cards responsibly
-Analyze a credit card statement

Lesson Length: 60 mins

Estimated Lesson Time: 120 minutes

Students will be able to:
-Generate a list of responsible strategies that can be used by an individual to pay down and eliminate their debts
-Explain the difference between High Rate and Debt Snowball repayment methods
-Decide whether credit counseling, the FTC, or the CFPB could help them manage debt
-Understand the consequences of not paying one’s debts and the choices of last resort for out-of-control debt

ANSWER KEY LINKS: Create a Next Gen Personal Finance (NGPF) account to access answer keys. They will be listed under the Full Year Curriculum tab.

Lesson time: 140 Minutes

Students will be able to:
-Establish criteria for choosing a credit card, based on the factors important to their needs
-Recognize and avoid marketing schemes that might lead to bad decisions
-Identify alternative routes to establishing credit, aside from opening their own credit card account

NOTE: Document is titled 9.4 Select a Credit Card

ANSWER KEY LINKS: Create a Next Gen Personal Finance (NGPF) account to access answer keys. They will be listed under the Full Year Curriculum tab.

Estimated Lesson Time: 120 Minutes

Students will be able to:
-Explain the fundamental features of a personal loan, including where to find one and how to apply
-Explore the peer-to-peer lending market as an alternative to traditional banks
-Understand the potential pitfalls of borrowing from family and friends, a personal 401(k), or a payday lender

ANSWER KEY LINKS: Create a Next Gen Personal Finance (NGPF) account to access answer keys. They will be listed under the Full Year Curriculum tab.

As teens prepare to enter the financial world, there are many elements for them to consider when it comes to credit. Whether they are off to college in a few months or gearing up to purchase a first car, they will find that credit plays an important part in many life activities—if used wisely. But used unwisely, credit can lead to unmanageable debt

Site provides lessons, tutorials, interactive games, and resources to teach and learn personal financial concepts such as credit, budgeting, purchasing, and personal goal setting