1. Credit: Buy Now, Pay Later Financial Literacy Mrs. Dayley

2. Questions to Consider What is credit? What does it cost to use credit? What are the advantages of using credit? What happens if you misuse credit?

3. KNOWLEDGE

4. Terms Credit Interest Annual Fee Finance Charge Loan Term

5. Credit Costs Loan Length Interest Rate Study tables on page 62.

6. Credit Benefits Access to cash in an emergency. The ability to use it now. Safety and convenience. Earn bonus points or miles.

7. Sources of Credit Credit Cards Installment Loans Student Loans Mortgages

8. Credit Cards Annual Percentage Rate (APR) Grace Period Minimum Payment Credit Limit

9. Assignment 5.1 Using the brochures provided, compare four credit card terms. Fill in the table on page 64 and type two paragraphs summarizing your findings.

10. Credit Reports What is a credit report? How do you build a good credit history? How does a credit report influence your economic future?

11. Credit Scoring

12. DEBT is…

13. Questions to Ask Yourself Before Signing on the Dotted Line: 1. Do I really need this item right now or can I wait? 2. Can I qualify for credit? 3. What is the interest rate (APR)? 4. Are there additional fees? 5. How much is the monthly payment and when is it due?

14. Questions to Ask Yourself Before Signing on the Dotted Line: 6. Can I afford to pay the monthly payments? 7. What will happen if I don’t make the payments on time? 8. What will be the extra cost of using credit? 9. What will I have to give up to pay for it? (Opportunity Cost) 10. All things considered, is using credit worth it?

15. Helpful Tips Rights and Responsibilities How to Get Out of Excessive Debt

16. BANKRUPTCY A legal process that allows someone deeply in debt to create a plan to get out of it. Chapter 7 Chapter 13

17. “Noveux Poor” KSL’s Stacy Butler Things to think about during the video. What habits lead to bankruptcy? How can it be prevented? What are the consequences of filing bankruptcy?

18. THE END