2/25/14 “Pew research study” 1.Based on this research study, what do you think are the two most important economic differences between Millennials who.

Slides:

Advertisements

Similar presentations

Budget. A financial plan drawn up for an individual, a family, a business or a government. It is usually for a period of a month or a year. Done right.

Advertisements

CREDIT Chapter 16.

A loan of money given to a borrower Specific amount to repay Specific time to repay Generally has a cost to it.

Chapter 23.1 Use your Money Wisely

Chapter 7: Planned Borrowing. Objectives Discuss the elements of the planned use of credit. Establish your own debt limit. Understand the language of.

Understanding Loans and Borrowing Money. Development of Credit  In the Past  Credit Today.

Notes Over 8.1 Graphing Exponential Functions Graph the function. xy.

Unit 6: Credit Section 3: Make Credit Work for You.

Credit Card Basics. Getting the idea Debit cards can be used almost anywhere that credit cards can be used. But there is a big difference between them.

Teens 2 lesson seven understanding credit presentation slides 04/09.

Applying for Credit Chapter 26.1.

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.

Personal Finance Chapter 16

CARL JOHNSON FINANCIAL LITERACY JENKS HIGH SCHOOL Credit Cards – More Than Plastic.

HOW CREDIT CARDS WORK What you need to know about credit cards- including what credit cards companies can and can’t do, and what information they have.

Borrower Beware 1. Why Borrow? 2 Consumer Debt for 2012 Averages per US Household: O Average credit card debt: $15,204 O Average mortgage debt: $148,818.

Credit Costs TODAY YOU WILL... EXAMINE THE COSTS OF CREDIT. 1 ©2014 National Endowment for Financial Education | Lesson 2-2: Credit Costs.

 Outstanding money owed by consumers  Examples  Credit Card Debt  Student Loans  Mortgages.

1. What is Credit and What is Debt? 2. Using Credit: The Rewards & Risks 3. Four Types of Debt 4. The Cost of Using Credit 5. Running the Numbers.

LSP 120 Financial Matters. Loans  When you take out a loan (borrow money), you agree to repay the loan over a given period and often at a fixed interest.

Financial Fitness Senior Seminar Agenda Student Loans Credit Cards Credit Report/Score Budgeting Insurance Saving and Investing.

Discussion Question CN (1) Web Investment Tracking Dow Jones Industrial Average Company Research Financial Web Sites Other Averages Online Brokers World.

PERSONAL FINANCE IVERSON Revolving Credit. Credit Cards Credit Cards allow you to borrow money from a bank each time you use your card so that you can.

Credit Card: A card that allows you to buy something on credit. Buying a product or service now but agreeing to pay for it later. Credit:  Credit is.

Credit Cards An Introduction “Hi! Nice to meet you!”

1.5 Choosing to borrow money. Why borrow? People’s spending needs change over their personal life cycle so it is often necessary to borrow money by means.

Dealing the Cards of Credit Credit cards No set time to be paid back May pay in full, part, or minimum payment No finance charge if bill paid in full.

Happy Thursday! 1. Complete the review questions on the back! 2. Have out part 8 & 9. I will be checking that for completion. 3. We are going over Credit.

Credit Cards Did you know that 183 million Americans are using credit cards? Average credit card debt is ~ $7,100 per household in 1012.

Section 4C Loan Payments, and Credit Cards Pages C.

Credit Consumer Economics. What is credit? The ability to borrow money now with the promise that you will repay it in the future. Credit can be a useful.

 Buying on credit = buy goods and services now and pay for them later (usually with interest)  Having credit depends on the suppliers’ confidence in.

Section 4D Loan Payments, and Credit Cards Pages

Chapter 16 Credit in America

1.1 Debt, Interest & APR Check out the ‘simple interest explained’ video at © moneyskool.org 2015.

Interest on Loans Section 6.8. Objectives Calculate simple interest Calculate compound interest Solve applications related to credit card payments.

Credit Credit is a sum of money a person can use for a period of time before having to reimburse the lender.

Advantages of using credit cards Ability to use item while paying for it No need to carry cash Use of card builds credit history Quick source of funds.

Law in American Society Ms. Gikas.  Credit: buying goods or services or borrowing money in exchange for a promise to pay in the future  Creditors: people.

Credit What YOU need to know!. What is Credit? Credit is borrowing money now to make an immediate purchase and promising to repay it later.

Reading a Credit Card Statement

Chapter 31 The Cost of Credit. Interest Calculations - Determining Factors  Interest Rates – The percentage that is applied to your debt expressed as.

Section 6.2 Notes. Can you afford a loan?  First way to tell  Second way to tell.

Credit Cards. What are the benefits? No need to carry large sums of cash Helps credit rating Have access to a written record of all purchases Rewards.

Interest (ing) Notes How to Calculate Simple Interest 2/11/10 Pre-Algebra.

Unit 5: Personal Finance Services of the Bank  Place to store your money safely – an Account.

2/6/14 “Interest offers” You take out a loan for $20,000 for college. Federal government offers you an interest rate of 4.6%. Bank of America offers you.

Using Credit SSEPF4.a, SSEPF4.b, SSEPF4.c. Loans and Credit Cards: Buy Now, Pay Later The U.S. economy runs on credit. Credit – The ability to obtain.

Do you know the answer? What is the annual interest rate of most credit cards in Canada? Government restricts it to less than 20%, so the credit card companies.

Financial Planning: Credit Cards. American Debt The median credit card debt is about $2,000 This means 50% of Americans have less than $2,000 in credit.

Personal Finance and International Review Questions.

Credit, Credit Cards, Scores and Compound Interest Today, you will need: Spirals, writing utensils, brains. Please, and thank you.

Using Credit Wisely Types of Credit Credit Card Allows user to charge amounts in different places Given a credit limit, or maximum amount you can.

1. Debt, Interest & Payments © moneyskool.org. People borrow money for all kinds of different reasons – to buy a house, go to university, start a business.

Credit Credit: borrowing money to pay for something now while promising to repay it later. Lender: the person loaning the money Borrower: receives the.

CREDIT CARDS CALM 20. What is a Credit Card? A credit card can be a convenient way to pay for almost anything, from a new pair of shoes to a holiday in.

Ms. Young Slide 4-1 Unit 4C Loan Payments, Credit Cards, and Mortgages.

Practical Math: Credit Cards Chapter 7 Notes. Vocabulary credit card: a card that allows you to buy items now and pay later monthly statement: form like.

2.4.1.G1 © Family Economics & Financial Education – December 2005 – Get Ready to Take Charge of Your Finances – Take Charge of Credit Cards Funded by a.

Responsibilities and Costs of Credit

news/video-credit-card-basics-1264.php news/video-credit-card-basics-1264.php.

Credit The Good, the bad, and the ugly. CREDIT CREDIT CAN MAKE OR BREAK YOUR FUTURE PLEASE PAY ATTENTION TO THIS IMPORTANT LIFE LESSON – IT IS SERIOUSLY.

Credit Card Basics. What is a Credit Card? credit card A credit card, such as Visa or MasterCard, allow you to pay for products or services by borrowing.

Exponential Functions – Personal Finance Basic Formula for Compound Interest: A = P(1 + r/n) nt » A = Final Amount » P = Beginning Amount » r = rate –

Financial Planning: Credit Cards

Financial Planning: Credit Cards

Exponential Functions – Personal Finance

Introduction to Credit Cards

Presentation transcript:

2/25/14 “Pew research study” 1.Based on this research study, what do you think are the two most important economic differences between Millennials who get at least a bachelor’s degree and those who only graduate from high school? 2.Why are these the most important? On desk: Pew Research Study & wksht.

Millennials with…At least bachelor’s degreeHigh school diploma only Work “just a job…” College “has/will pay off” Median salaries Unemployment rate % living in poverty % “very satisfied” with job 1965 salaries 2013 salaries

Based on this research study, what do you think are the two most important economic differences between Millennials who get at least a bachelor’s degree and those who only graduate from high school? After reading this research study, do you think it is worth it economically to go to college? Why or why not?

2/25/14 Econ. Agenda 1.Credit card payments & credit card debt (class notes) 2.Credit card interest payments (online calculator) HW: Credit card interest payments wksht.

2/25/14 Class Notes – credit card payments debt: something that is owed repossession: to take something back Example: When Harrison couldn’t make his mortgage payments, the bank repossessed his house.

2/25/14 Class Notes – credit card payments How do credit card companies make $$? 1.Lend you MONEY. 2.Charge you INTEREST for borrowing that money. 3.Put you in DEBT. You have 3 repayment options every month: 1.Minimum payment (set by c.c. company) 2.Partial payment 3.Full payment

Class Notes Minimum Payment Pay only the minimum $ to avoid late fees Unpaid balance added to next month’s bill Pay APR interest Interest compounded **Only do this if you HAVE to!** Partial Payment Pay more than minimum payment, but not full amount **Do this instead of minimum payment** Full Payment Pay full credit balance Pay NO APR interest **ALWAYS do this!**

Why is it important to pay more than just your minimum payment every month? 6cP6Iw

To-Do: Credit card repayment calculator ors/creditcardmincalc.shtml ors/creditcardmincalc.shtml Figure out how much interest you will pay on purchases if you only pay the minimum amount required by your credit card!