Credit Personal Finance.

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Presentation transcript:

Credit Personal Finance

Lesson objective SWBAT assess the function of credit within the American economy.

Word of the day Credit The ability to obtain goods or services before payment, based on the trust that payment will be made in the future.

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Credit: Quickwrite Is having a great deal of debt, even if you can pay it off easily, ever a safe thing? Share Out

Credit: Vote With your feet Agree (SmartBoard)/Disagree (Rear wall)/ In between (middle) Do you need a credit card to financially support yourself in America? Share Out/Switch positions

Activity 1: Jigsaw Focus Question: How will your credit score affect your ability to borrow money in the future? Read How Credit Scores Work 1. How are credit scores determined? 2. How can your credit score effect the price you pay for goods? 3. How can you improve your credit score? Share Out

Activity 2: Individual Focus Question: How will your credit score affect your ability to borrow money in the future? Read A Bad Credit Score Affect A Lot More Than Credit How can a bad credit score affect your long term financial interests? Do you believe a bad credit score would change a boss’s opinion about hiring you despite an excellent resume? Share Out

summary Discussion: “Credit is a system whereby a person who can't pay gets another person who can't pay to guarantee that he can pay.” Charles Dickens Do you agree with Dickens’ criticism of credit?