Bookmark this page for access to the latest version of this file. Materials alaska department of health and social services. If you are actively using a card, then purchases made in the past month usually have a grace period of a month before interest is charged. Our free budget worksheet with common income sources and expenditures can get you started. F1 to find and record the definition of each vocabulary word in.
This will give you a sense of where you are spending your money and changes you can make to improve your situation, if necessary. Resources american consumer credit counseling accc is a nonprofit 501c3 organization. Students should read the lesson, and then complete the worksheet exercise. Using the attached form, research the costs and features of. Teaching kids about credit and understanding credit cards. They then work through some problems on simple interest and monthly payments.
Free financial literacy lesson plans for high school teachers. Distribute 2 large index cards or 2 half sheets of paper to each student. Define credit card go over example explaining how to compute interest on credit cards assign the credit card activity worksheet. To help you track your expenses and build a monthly budget, use the following worksheet for at least two or three consecutive months. The student will be able to define terms associated with opening and using an. When you put a cd into a cd player, the reader in the machine analyzes codes on the back of the cd. Fixed expenses, periodic fixed expenses, flexible expenses.
Nerdwallets credit card finder tool helps you pick the best credit card for your needs. Students are to toss the coin with the correct value to the target with the matching value. Kitchen math home math we have also developed a math skills booklet called simply math to help learners with different math operations that are needed for this series. In the end, you hear music, voices, or other sounds. Credit and credit card lesson plans, consumer credit. Evaluating credit card offers simulation is a realworld, handson activity where you will be using mint. This worksheet is designed for your internal use to track the information you need to close your old accounts. This chapter is for people whose earned income credit eic for any year after 1996 was denied or. Select the primary reasons for obtaining a credit card. Identify which credit card you would choose and why. Which parties participate in credit card processing. Choosing and using a credit card responsibly when making the decision to get a credit card, ask yourself this question. Credit cards compare credit card offers nerdwallet.
Be sure to adjust the budget categories to best re. Dc debit card dd direct deposit pp preauthorized payment sf. Credit cards are revolving debt, which means the minimum payment requirement changes based on your total balance. If youre going to pay the bill in full every month, then the interest rate doesnt really matter to you. High school credit activity items needed copies of okmms. Choose any three 3 credit cards from any categories and complete the grid.
Distribute a copy of the family activity sheet to each student to share what theyve. This is an activity in which the students answer questions about different payment options with credit cards 10 minutes. Distribute an understanding credit cards information sheet 2. Ask students to write in large print positive on one card and negative on the other card. Learn about credit with an introduction to credit cards, reading a credit card statement, and advanced lessons regarding incorrect credit card. If theyre too credit averse and use cash or debit cards for everything, they will not establish a credit history and could have a hard time qualifying for a mortgage or car loan. Your first credit card manage it right and it could lead to a world of possibilities. For more information contact audrey brown, administrative director, mqed and financial literacy center at dartmouth college. Founded in 1991, accc offers confidential credit counseling, housing counseling, bankruptcy counseling, a debt management program. Set up an free account with and access hundreds of amazing printables.
Instruct participants to use their understanding credit cards information sheet 2. However, we recommend setting fixed payments so you can pay your balances off faster. Do you plan on paying off your balance each month or maintaining a balance. These allow you to borrow money up to a certain amount any time you want and generally offer flexible repayment terms. As students start to shop for their first or next credit card, this lesson will make them aware of various costs and features. Grades 9 12 high schoolers learn about relevant financial skills like managing salary, buying a car and avoiding debt. Depending on your situation, some expenses for example, long distance calls or a cell phone may be considered. High school credit activity oklahoma money matters. Credit cardsa package deal 2010, federal reserve bank of st. Look for a card with no annual fee and a longer grace period so you dont get hit with a finance charge.
If the statement is a benefit, draw a line under the statement. When it comes to the value of a good credit history, the lessons parents impart today can help kids establish positive habits later. Fixed expenses, periodic fixed expenses, flexible expenses and indebtedness. Debit card simulation and student worksheet understanding checking accounts and. This section includes lessons on consumer credit cards, credit, and paying interest. If you pay off your balance on time each month, you can tolerate a higher interest rate. With both types of credit, the maximum amount you can borrow, or credit limit, depends upon your credit score, income, and other factors that determine your ability to repay. Building a budget takes work, but you dont have to do it alone. The student will be able to explain how banks and credit unions make profit from lending money and issuing credit cards. This site may be compensated through the credit card issuer affiliate program. If the statement describes a debit card, write the statement in the right circle. The calculator assumes you are paying off the unpaid principal.
Fill out the following table to help you shop around for a credit card. Copies of the choose the right card worksheet on page 12 of the. The credit card offers for scott are offered to all users of mint. Many credit card companies offer programs that reward you for using your card by providing incentives like cash back, airline miles or points you can use for discounts on goods and services. Louis permission is granted to reprint or photocopy this lesson in its entirety for educational purposes, provided the user. If the statement describes both a debit card and credit card, write the statement in the overlap between the two circles. The student will be able to describe how credit card companies decide to give someone credit. A teachers copy of each worksheet, including answers and hints, follows the students worksheet. Explain why anna might choose each of these two options. Use these free worksheets to learn letters, sounds, words, reading, writing, numbers, colors, shapes and other preschool and kindergarten skills. Teachers guide the secret history of the credit card. Before you choose a credit card before you choose a credit card. Calculating what happens to a credit card balance this test is part of the dartmouth money matters curriculum. This content is not provided or commissioned by the credit card issuer.
Choosing the right one see below for printable lesson procedure. Credit and debit cards certificates of deposit cds atms 2. This exercise will give you a chance to shop for and compare the costs and features of three credit cards. The following details explain how the calculator on this page works. Choosing the right credit card lesson plan, introduction. Look for a card with no annual fee and a longer grace period so. The teachers guide includes activity worksheets which allow your students to apply what they have just learned to reallife scenarios. For details of the maximum to your address last notified to us unless you notify us in writing that you want to collect the credit card from us. If your earned income credit eic for any year after 1996 was denied disallowed or reduced by the irs, you may need to complete an additional form to claim the credit for 2019. All worksheets are pdf documents for easy printing. Before you complete a credit card application, make sure you understand all of the terms and conditions that apply to the card.
If you apply for a credit card from a federally regulated financial institution such as a bank, the application must include an information box. A credit card works a lot like a cd you know, that thing people used before ipods came out. Future consumers first learn about lines of credit and credit cards by watching a video. As an option, teachers may also use the lesson as part of a classroom lesson plan. Using credit to your advantage pdf hands on banking.