Personal Finance – 1/09/17

I.  Bellwork

• Provide two reasons why someone would use credit.
• List at least 3 examples of things people buy on credit.

II.  Objectives:

• Examine the history of credit in the U.S.
• Explain the advantages and disadvantages of credit
• Determine the meaning of words and phrases relating to credit

III.   Discussion/Notebook

• Tree Maps: Advantages &  Disadvantages of Credit

IV.  Classwork: 16-1 Questions Pages 357-360

A.  Definitions 8 Page 357

B.  Questions Answers

1. What percentage of U.S. purchases are made with credit?
2. How much credit card debt does the average American have?
3. Why has credit turned into a burden for many people?
4. What are 3 important factors in qualifying for credit?
5. Explain what is included in the credit balance due.
6. Explain what is a minimum payment.
7. Explain what is a secured loan.
8. List four advantages of Credit.
9. List four disadvantages of Credit.

C.  Banzai – the Game

Personal Finance F2016