Review Lesson Two What is a debit card? How does it differ from an ATM card?

Slides:

Advertisements

Similar presentations

Credit Cards Unit 1 Lesson 3.

Advertisements

Teacher instructions:

CREDIT ESSENTIALS Introduction to Business and Marketing – Ch 25.1.

Introduction to Business & marketing

Earning Credit. Compelling Question Have you ever borrowed money from someone and not repaid it? Or has anyone ever borrowed money from you and not repaid.

Credit Card Basics. Getting the idea Debit cards can be used almost anywhere that credit cards can be used. But there is a big difference between them.

Lesson 8 Getting a Credit Card. Key Terms APR Credit Credit Card Creditor Debtor Finance Charge Interest Rate Introductory Rate Late Fees Minimum Payment.

Personal Finance Chapter 16

Bellwork When do you think it is appropriate to use a credit card?

Basics of Credit. Credit Purchasing today, with the promise to pay later. What does credit offer you? – More time to pay – More money – Instant gratification.

SECTION 2: WHAT IS CREDIT Unit 6: Credit. I Can: Differentiate Credit Cards from Debit Cards Describe the importance of APR Define and apply: credit limit,

.. Finance  Keys to Building Wealth  Disposable/Discretionary Income  Compound Interest  Rate of Return  Financing  Interest Rate  Sinking Fund.

Good Debt vs. Bad Debt Middle School Financial Literacy #5.

Grade 12 Family Studies. B6I.

Managing Credit Mansfield University TRiO Melissa Wise -First Citizens National Bank.

Introduction to Business and Marketing. OBJECTIVES  Identify the sources of credit  Understand the types of credit.

Credit Cards An Introduction “Hi! Nice to meet you!”

Review Lesson One What are 4 examples of financial institutions?

Smart Spending: Credit and Budgeting Glow Foundation 2010.

The Cost of Credit BBI2O Introduction To Business Unit 3: Finance 3.D Credit.

Loan a sum of money provided temporarily on the condition that the amount borrowed be repaid, usually with interest Interest the price or fee for using.

Good Debt vs. Bad Debt 7 th Grade Income vs. Expenses #3.

FINANCIAL ROADMAP. AGENDA  Credit cards and interest  Student loans  What happens if you don’t pay: Credit scores  Taking control of your money.

The Basics of Credit Objective: To explain the concept of consumer credit, including major types and their benefits/drawbacks.

Advantages & Disadvantages of Credit Cards

 dvice/glossary.htm dvice/glossary.htm.

Credit & Debit Cards Personal Finance Mrs. Brewer.

Credit Credit is a sum of money a person can use for a period of time before having to reimburse the lender.

Chapter 6 Consumer Credit

2 pt 3 pt 4 pt 5pt 1 pt 2 pt 3 pt 4 pt 5 pt 1 pt 2pt 3 pt 4pt 5 pt 1pt 2pt 3 pt 4 pt 5 pt 1 pt 2 pt 3 pt 4pt 5 pt 1pt Taxes InterestBusiness funmoneyMisc.

Credit What YOU need to know!. What is Credit? Credit is borrowing money now to make an immediate purchase and promising to repay it later.

DO NOW ACTIVITY: the check below, & find the FIVE parts of the check that are WRONG! Jan 28th My sweetest little cherubs One Hundred and.

Credit Pros and Cons Unit 1 Lesson 4. Introduction Credit use carries an important responsibility. Credit use carries an important responsibility. When.

Buy Now Pay Later….  How to analyze the advantages & disadvantages of consumer credit  How to distinguish among various types of consumer credit  How.

An agreement to provide goods, services, or money for future payments with interest by a specific schedule; the use of someone else’s money for a fee.

Chapter 4, Section 2. Types of Banks  Commercial Banks  Savings and Loan Associations  Savings Banks  Credit Unions  Finance Companies.

Credit. What is it? – the ability of a customer to buy goods or services before paying for them, based on an agreement to pay later. Always investigate.

 What are advantages of credit  What are disadvantages of credit.

Chapter © 2010 South-Western, Cengage Learning Credit in America Credit: What and Why Types and Sources of Credit 16.

© 2010 South-Western, Cengage Learning SLIDE 1 Chapter 16 Do Now10/21 & 10/22 Study Chapters 8, 9, 10, & 20 for Unit 2 Test.

MONEY 101. Types of Bank Accounts  Savings—long term money storage  bank pays you interest = $$ can grow!  Checking—used for everyday usage (deposits.

CREDIT….HMMMM! By Julie Chapman for. CREDIT IS THE ABILITY TO BUY NOW AND PAY MORE LATER! TRUE?FALSE? PAYMENT OF INTEREST IS USUALLY A PART OF USING CREDIT,

Credit Cards. Questions we will answer… What is credit? What does it cost to use credit? What are the advantages of using credit? Where can you get credit?

UNIT FIVE. CREDIT: BUY NOW, PAY LATER. Coming soon to a mailbox near you: Credit Card offers.

Using Credit Wisely Types of Credit Credit Card Allows user to charge amounts in different places Given a credit limit, or maximum amount you can.

KEEPING SCORE: WHY CREDIT MATTERS. ESSENTIAL QUESTION: WHAT DOES IT MEAN TO BE CREDITWORTHY?  Think about your last purchase. How did you pay for it?

Credit Credit: borrowing money to pay for something now while promising to repay it later. Lender: the person loaning the money Borrower: receives the.

Grade 12 Family Studies.  Do you have a credit card?  What is it used for?  How is it like a loan?

Pre-test.  A. Your age  B. The length of time you have had the card  C. The amount of money you owe on your credit card  D. The terms and conditions.

Hidden Cost of Credit How creditors win and you lose.

Interest Rates and Borrowing Be a $mart consumer..

Chapter 7 Buying Decisions. Slide 2 Where Can Consumers Get Credit? Credit is the ability to borrow money and pay it back later. 7-2 Getting Started with.

Understanding Credit & Using Credit Cards Personal Finance – Raymond High School.

Credit and Credit Cards VHS. Credit  Credit is the ability of a consumer to obtain goods or services before payment, based on an agreement to pay later.

© 2010 South-Western, Cengage Learning Chapter © 2010 South-Western, Cengage Learning Credit in America 16.1 Credit: What and Why 16.2Types and Sources.

Understanding a Credit Card “Take Charge of Your Finances” Advanced Level.

2.4.1.G1 © Family Economics & Financial Education – December 2005 – Get Ready to Take Charge of Your Finances – Take Charge of Credit Cards Funded by a.

Using Credit Wisely. Credit  Credit is a sum of money a person can use before having to reimburse the credit lender.  It allows a person to receive.

Credit The Good, the bad, and the ugly. CREDIT CREDIT CAN MAKE OR BREAK YOUR FUTURE PLEASE PAY ATTENTION TO THIS IMPORTANT LIFE LESSON – IT IS SERIOUSLY.

Credit Cards are “Interest” ing SS.4.FL.4.1 Discuss that interest is the borrower pays for using someone else’s money. SS.4.FL.4.2 Identify instances when.

Unit Four Good Debt, Bad Debt: Using Credit Wisely.

Why Credit Matters?. Do Now  What was your last purchase and how did you pay for it? Did you use cash, debit credit or check?  What are the differences.

Account Number Is your unique reference number in a bank?

Borrowing Wisely Senior Advisory Week of May 23, 2016.

Bell Ringer What important financial decisions will you make in the next few years? BRING A CALCULATOR! © Council for Economic Education1.

The Cost of Borrowing SS.4.FL.4.1 Discuss that interest is the price the borrower pays for using someone else’s money. SS.4.FL.4.2 Identify instances when.

Bank Loans SS.8.FL.4.1 Explain that people who apply for loans are told what the interest rate on the loan will be. An interest rate is the price of using.

Credit, Debit, and ATM Cards

PowerPoint 2 Loans Economics Unit 3.

LESSON TWO: PERSONAL SPENDING

Presentation transcript:

Review Lesson Two What is a debit card? How does it differ from an ATM card?

Lesson Three: Credit Cards Objective: Students will identify what a credit card is and some advantages of using credit.

Introduction: Consumers’ use of credit to buy goods and services is growing at a staggering rate. Once used primarily for large-ticket items, credit is now used for virtually everything. With a credit card, you buy now and pay later, at the end of the month.

Credit- the amount of financial trust extended to a person or business by a lender. What is Credit?

Credit is a loan It can be of great help to a smart money manager can serve as a building block to establish a great credit history. It also can be a trap leading to financial ruin. Credit must be used with caution and managed carefully. It is essential that credit is used wisely! What is Credit?

Credit is the amount of financial trust extended to a person or business by a lender. Credit card- a card authorizing the holder to buy good and services that can be paid for later Interest- payment for the cost of using someone else’s money, usually expressed in an annual percentage rate Vocabulary

Partner Activity Take turns reading the bulleted ideas on View of Credit Cards from the common Drive. Make a list of the 9 advantages to using a credit card on your notes page.

Open file on common drive called “Let’s Explore Credit”

Video Credit Card Debt Explained With a Glass of Water

Small Group Activity Scenarios Complete the 3 Scenarios on pages of your workbook in your group. Questions should be answered on a Word Document. This will be printed and collected for a grade.

Summary What is an advantage to using a credit card? What is a disadvantage to using a credit card?