5 C’s of Credit Take Charge.

Slides:

Advertisements

Similar presentations

Chapter 5 Credit Management

Advertisements

Good vs. Bad Credit Credit – the ability to borrow money and pay it back later. Good credit means: Lenders want to loan money to you because you have.

Personal Finance Credit Review JEOPARDY 100 Definitions Types of Types of Credit 4 C’s of 4 C’s of Credit Your Rights Credit Report Potpourri

Home Buying Process Financial Options. Objectives Define the Four “Cs” of the Loan Process Determine How Much You Can Afford for a House Calculate Front-End/Back-End.

CREDIT. ADVANTAGES OF CREDIT advantages: o Able to buy needed items now o Don’t have to carry cash o Creates a record of purchases o More convenient than.

CALM.  Able to buy needed items now and pay later.  Don’t have to carry cash  Creates a record of purchases  More convenient than writing cheques.

Unit 4 - Good Debt, Bad Debt: Using Credit Wisely PG 73.

Back to Table of Contents pp Chapter 26 How to Get and Keep Credit.

Going into Debt. Americans and Credit What is credit? What is credit? Receiving funds directly or indirectly, to buy goods and services w/ promise to.

The Importance of a Good Credit Score and How to Read a Credit Report

Unit 2: Measuring Financial Health. Learning Objectives O Define asset, liability, and net worth. O Calculate the level of net worth using a balance sheet.

Credit. What is credit? Borrowing $ to use today, with the promise to repay in the future.

Chapter © 2010 South-Western, Cengage Learning Credit Records and Laws Establishing Good Credit Evaluating Credit and Laws 17.

Personal Finance Test Review. Post Test Review A. Credit is the ability to obtain goods/services before payment is made based on the trust that payment.

Credit 3 C’s of Credit. Character – Will you repay the Debt?  Have you used credit before?  Do you pay your bills on time?  Do you have a good credit.

Personal Finance. The three Cs of Credit 1. Capacity  Do you have a steady job?  What is your salary?  How reliable is your income?  Do you have other.

Building: Knowledge, Security, Confidence Borrowing Basics.

HOW TO GET AND KEEP CREDIT. PICKING A CREDIT CARD You will have to fill out an application. It will ask about where you live, where you work, what other.

What do you know about credit? Credit. “But Roger, everyone spends more that he earns. That’s what Canada is for.”

Managing Your Money Chapter 23.

Credit and Debt. Answer the following on paper. 1. What do people use credit cards for? 2. Should high school students be given credit cards? Why or why.

CHAPTER 26 – HOW TO GET AND KEEP CREDIT What I need to know…

Complete the True-False Quiz!. To obtain goods or services before payment, based on the trust that payment will be made in the future.

Credit and the Five “C”s of Credit: What Lenders Look For Information is based on text from Business and Personal Finance by the McGraw Hill Company.

Chapter © 2010 South-Western, Cengage Learning Credit Records and Laws Establishing Good Credit Evaluating Credit and Laws 17.

You and Your Credit UNIT VII – Personal Financial Literacy.

Chapter © 2010 South-Western, Cengage Learning Credit Records and Laws Establishing Good Credit Evaluating Credit and Laws 17.

Bell Ringer What important financial decisions will you make in the next few years? BRING A CALCULATOR! © Council for Economic Education1.

THE 5 C’S OF CREDIT. Capacity Your ability to repay.

Good Debt, Bad Debt: Using Credit Wisely Good Debt, Bad Debt: Using Credit Wisely NORTH DAKOTA PERSONAL FINANCE EDUCATION.

Do Now: If you were going to give someone a loan, what would be some factors you would consider?

Credit Ratings: How to Determine Your Score Section 6-6.

The promise to pay money in exchange for the right to receive goods and services now. Examples Personal Loans Mortgages. Credit Cards Lines of credit.

Final Exam Review Unit 4: Personal Finance. 1. What are debit cards used to do? withdrawing money from a checking account from an ATM making an automatic.

Unit 5 and 6 Financial Markets, Consumer/Personal Finance, Economic Indicators and Measurements.

Mortgage 101 Training for The ________ Team

UNIT VII – Personal Financial Literacy

Main factors examined for granting credit

Borrowing Basics Showing you the Way.

DO NOW 12/5/16 Use Google to define these terms IN YOUR NOTES Credit

Economics Unit 3 Investing and Saving

What is this thing called CREDIT??

Unit 4 - Good Debt, Bad Debt:

Unit 2 Review Spring 2017.

Unit 4 - Good Debt, Bad Debt:

Credit basics Advanced Level.

Consumers, Savers, Investors

Lesson 9A: The Three C’s of Credit

Personal Finance.

III. Credit and Credit Cards

Chapter 13 Managing Money.

Credit Score Consumer Math.

Credit Review Fall 2014.

Lesson seven credit presentation slides.

Credit Scores Interest on Debt and Interest on Savings

5 C’s of Credit.

Test over Credit tomorrow

Personal Finance JEOPARDY Credit Review.

Personal Finance Review

5 C’s of Credit.

Unit 4 - Good Debt, Bad Debt:

Financial Institutions

UNIT VII – Personal Financial Literacy

Financial Institutions

Banking and Credit.

$100 $300 $100 $400 $100 $300 $200 $100 $100 $200 $500 $200 $500 $200 $300 $200 $500 $300 $500 $300 $400 $400 $400 $500 $400.

5 C’S OF CREDIT Take Charge.

Unit 5 and 6 Financial Markets, Consumer/Personal Finance, Economic Indicators and Measurements.

$$$ Management What is the difference between credit & debit?

Presentation transcript:

5 C’s of Credit Take Charge

-Good or bad payment history -Credit Score -Public Records -Criminal -Courts Character

-Stable Job History -Consistent pay -Seasonal -Commissions -Hourly -Salary -Bonuses -Level of pay -Is it high enough for item to be purchased? Capacity

-Valuable home that is owned and in good condition -Valuable home that is owned and in good condition. -Car that is owned: paid off -Valuable collectibles that could be sold -Art -Guns -etc Collateral

-Do they have any savings accounts -Do they have other investments that are liquid -Mutual Funds -Stocks -CDs -Do they have other financial accounts? -IRA -401K -Life Insurance Capital

-Adverse change in the industry they work in -Adverse change in the property to be purchased with the credit -Employer announcements of problems -Divorce, Child Support Payments, Alimony -Pending Lawsuits Conditions