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Modified over 4 years ago
Consumer Credit Basics Use credit wisely to enjoy personal financial health.
Consumer Credit Basics The benefits and costs of using credit Basics concepts in consumer lending Credit scores Using credit wisely
Use Credit Wisely Build credit Big items; house, car, college Convenient & safe Emergencies
Use Credit Wisely Easy to live beyond your means Easy to get into credit trouble Hard to get loans for big items or emergencies with bad credit
Credit 101 Installment or Revolving Secured or Unsecured
Credit 101 Installment or Revolving Secured or Unsecured The 3 Cs of Credit: 1. Capacity 2. Capital 3. Character
Credit 101 Installment or Revolving Secured or Unsecured The 3 Cs of Credit: 1. Capacity 2. Capital 3. Character Credit Score
Use Credit Wisely Pay on time Pay in full or more than minimum Evaluate purchases Avoid fraud
Use Credit Wisely Pay on time Pay in full or more than minimum Evaluate purchases Avoid Fraud Over limit fees Convenience fees/interest Cash advance
Credit Help Communicate with lenders Talk to a financial counselor Work out a budget Prioritize debts
MCUL Financial Education MCUL Consumer Financial Education Library Financial Health course Lovemycreditunion.org CU Village Financial Resource Center
Credit Buy Now, Pay Later. Credit Someone is willing to loan you money (principal) in exchange for your promise to pay it back, usually with interest.
Credit Chapter 10.
Warm-up What are three things you learned from watching Maxed Out? Take out Randys Story.
Understanding Loans and Borrowing Money. Development of Credit In the Past Credit Today.
Introduction to Business and Marketing Chapter 26.2.
The Importance of Credit Brought to you by Work.
Credit Cards. CREDIT DEFINITIONS Credit Trust given to another person for future payment of a loan, credit card balance, etc. Creditor A person or company.
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.
Back to Table of Contents pp Chapter 26 How to Get and Keep Credit.
Borrowing Basics 1. 2 Introduction Instructor and student introductions Module overview.
Building: Knowledge, Security, Confidence Borrowing Basics FDIC Money Smart for Young Adults.
Borrowing Basics 1. 2 Purpose Borrowing Basics: Describes how credit works and the types of credit available. Helps you determine if you are ready to.
Math, Banking, and Credit Unit
CREDIT CHAPTER 10 CREDIT You’re In Charge WHAT’S AHEAD 10.1 What Is Credit? 10.2 How to Qualify for Credit 10.3 Sources of Consumer Credit 10.4 Credit.
Consumer Action: Use Credit Wisely Consumer Action created this project in partnership with USE CREDIT WISELY.
Credit Wisdom. Managing Money & Credit: A Lifelong Skill.
Five C’s of Credit Character Capacity Collateral Capital Conditions.
Credit Use and Credit Cards Steven M. Hays BKHS – Personal Finance Steven M. Hays BKHS – Personal Finance.
CREDIT: Day 2. Types of Credit Credit Cards Loans.
USING CREDIT. Managing Money & Credit: A Lifelong Skill.
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