Unit 11: Financial Literacy

Why is it important to have a positive credit history?

• It can earn you a higher interest rate on a loan.

• It will affect your ability to buy a house or car.

• It will allow you to be able to skip payments on your credit card.

• It will allow you to pay just interest and not principal amount on a loan.

How can you establish a positive credit history?

• Paying your bills on time

• Buying stuff with cash only

• Paying less than the minimum payment

• Maxing out your credit card

What is a student loan?

• A college savings account

• A loan you have to pay back with interest.

• Money awarded to a student that they don't have to pay back.

• A bank account

Tags

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.8.5

Credit Card is

• a card that allows you to pay the balance over a period of time, subject to interest

• a card that immediately deducts funds from your checking account

Tags

CCSS.6.NS.C.5

Debit Card is

• a card that allows you to pay the balance over a period of time, subject to interest

• a card that immediately deducts funds from your checking account

Tags

CCSS.6.NS.C.5

What is a transfer?

• an addition of money into a bank account

• moving money from one account to another

• the removal of money from a bank account

Tags

CCSS.7.NS.A.1A

What is a deposit?

• an addition of money into a bank account

• moving money from one account to another

• the removal of money from a bank account

Tags

CCSS.6.NS.C.7C

What is a withdrawal?

• an addition of money into a bank account

• moving money from one account to another

• the removal of money from a bank account

Tags

CCSS.6.NS.B.3

What is a work study?

• a form of financial aid, based on need, provided by the government that does not have to be repaid

• a financial aid program in which a college student works to pay money towards their tuition

• a loan set up in order to help college students pay for tuition, books, and living expenses

Tags

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.7.3

What is interest?

• an addition of money into a bank account

• a card that allows you to pay the balance over a period of time, subject to interest

• the amount of money paid on a loan or an investment

Tags

CCSS.7.RP.A.3