1. A generation weighed down by debt
Presented by Hana Prashker
and Sonia Noriega

2. Summary “A generation weighed down by debt” Marilyn Gardner
Christian Science Monitor
November 28, 2004

3. How do students get credit cards?
Credit card companies on college campuses
0% interest for the first month only
High interest rates

4. Why are young people in debt?
Student loans
High credit card balances
Housing prices
Low salaries
Unemployment

5. What are the steps for getting out of debt?
Obtain a credit report
Listing all credit card accounts
Make a budget
Bankruptcy
Legal state of being unable to pay bills
Recorded for 10 years

6. How can young people prevent themselves from getting into debt?
Financial strategy classes
Limit spending
Limit credit card use
Obtain free credit reports

7. Reaction
What should students be taught in a high school financial strategy class?

8. Credit Cards Aggressive marketing Promotional periods
High interest rates
Finance charges
Time and place to use them
Time and place not to use them

9. Loans Advantages Disadvantages Continue education Pay after college
Emergencies
Disadvantages
High interest rates
Must pay them back

10. Interest Rates
Definition
How interest is calculated

11. Manage Money Develop a budget Record transactions
Limit unnecessary spending

12. Identity Theft Prevention - One credit card for online purchases
- Shred documents
- Change passwords often
- “Trashing”

13. Vocabulary Enticing (adj.) – alluring, tempting, inviting
“Enticing offers – 0% interest! – Turned out to be for the first month only.”

14. Protect
yourself!