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Please do now: Take personal finance self-survey Answer as best you can! Hand in your HWfinishing the check register practice packet.

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Presentation on theme: "Please do now: Take personal finance self-survey Answer as best you can! Hand in your HWfinishing the check register practice packet."— Presentation transcript:

1 Please do now: Take personal finance self-survey Answer as best you can! Hand in your HWfinishing the check register practice packet

2 The Truth & Lowdown about Credit Brought to you by Abbe Joseph, who wants you to be knowledgeable and careful with your money!

3 Top things to know about credit Americans are loaded with credit-card debt. Why is some debt actually good? When is debt bad? How can I get a handle on my spending? What kinds of debts should I pay off first? What is the minimum trap on credit card dues?

4 Top things to know about credit, continued I need to keep my investing goals (and my home!), so I need to watch where I borrow! Why should I ideally have a cash cushion of three to six months? (Remember occasional expenses!) How could I find legitimate help managing my debt if I get to that point?

5 What is a credit report? What is the difference between a credit report and credit scores? How do my credit scores affect interest rates on credit cards, loans, and a home mortgage?

6 Credit in the Teen Years Is it a good idea to have a credit card when I go to college? How can annual interest, compounded over the years, seriously hurt my savings potential? What are the dangers of lay-away plans (borrowing interest-free and then paying off the balance within a set, small time period)?

7 Investing in the Teen Years What are some rewards of self-control? Investing is the flip side of credit: I can be the one who collects interest and extends (not ruins) my credit! What is a savings bond? What is a certificate of deposit (CD)? Why should I wait to play around in the stock market? When can I start legally trade stocks on my own? In the meantime, I can play stock-investing games on the Internet now.

8 How can I beat bank fees? Buy cheap checks; you dont have to even buy them from your bank. What is overdraft protection? I should get cash back (responsibly) if I use a debit card in a store. I need to find out what free means for the type of account I have. What does it mean to link my accounts?

9 How can I take an interest in interest? Why should I calculate monthly fees over a year versus interest rates? Why should I consider a CD? How is a CD safe if interest rates do down? Why should I keep my money in the CD until it matures?


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