1. Personal Finance Today
Credit Cards – Unsecured Loans!
Get out the worksheet form yesterday…..
APR – Purchases vs Cash Advances
Marty or Mary?
Minimum Payments – How long will it take?
Annual Fees
DEBIT Cards – YOUR money (checking/saving)
Choose Debit or Credit? Credit = Still YOUR money
Credit option: More detail on statement and sign (not PIN)
Go to BANKRATE.COM
Video segments: Parts 4-7 (11 minutes)

2. 2015 Average Costs…. WEDDING: $26,500 Per CHILD: $245,000
The BIG TICKET Items…
RETIREMENT
WEDDING: $26,500
Per CHILD: $245,000
HOME: $355,000
Midwest 329,000
NE: $573,000
West: $413,000
South: $319,000
(knock of $100,00 …)
COLLEGE: $ ,000
VERY COMPLICATED to figure out – But in general terms – if you save $200 a month from the age of 22 through retirement (67) you will have over $800,000 for retirement.
Country Club here your come!
2015 Average Costs….

3. Personal finance today
LESSON PLAN is off a DAY….
Credit Scores – Why and what are they?
Ramsey – Ch. 4, Section 3: The Credit Score
Complete PAGES 90-91
The Credit Card Game – page 87
Tomorrow  Bankrate.com  Deciphering Credit Card Fees.

4. CREDIT SCORES How it all starts: Loan Approvals Loan RATES
Checking Account
“Life Bills”
Job History
Why it’s Important
Loan Approvals
Loan RATES
Loan “down payments”
JOBS! (Some employers check credit scores before hiring)
When does it start?
Right now…
$200,000 house : 3% = $6,000/year
4% = $8,000/year
Down payment: 20% = $40,000
5% = $10,000

5. How your credit score is calculated

6. The Marketing of Debt … Mastercard: Priceless
 (baseball)
 (Babies love the cardboard box)
Capital One - Venture
VISA -- GO! Credit Card ad

7. Credit card offers / schumer box
0% is for a limited time and if you default – YIKES!
Points / Bonuses / Discounts can be good – but not if you don’t pay your bill!
APR
Annual Fees
Minimum Finance Charges
Cash Advance Fees and High APR
Over-the-limit fee
NFS fee
Credit Score – Credit Reports