Use these free worksheets to learn letters, sounds, words, reading, writing, numbers, colors, shapes and other preschool and kindergarten skills. This section includes lessons on consumer credit cards, credit, and paying interest. As an option, teachers may also use the lesson as part of a classroom lesson plan. Distribute an understanding credit cards information sheet 2. Evaluating credit card offers simulation is a realworld, handson activity where you will be using mint. Kitchen math home math we have also developed a math skills booklet called simply math to help learners with different math operations that are needed for this series. The student will be able to explain how banks and credit unions make profit from lending money and issuing credit cards.
All worksheets are pdf documents for easy printing. Founded in 1991, accc offers confidential credit counseling, housing counseling, bankruptcy counseling, a debt management program. The following details explain how the calculator on this page works. The student will be able to describe how credit card companies decide to give someone credit. Depending on your situation, some expenses for example, long distance calls or a cell phone may be considered. If the statement describes a debit card, write the statement in the right circle. Choosing the right credit card lesson plan, introduction. If the statement is a benefit, draw a line under the statement. As students start to shop for their first or next credit card, this lesson will make them aware of various costs and features. For details of the maximum to your address last notified to us unless you notify us in writing that you want to collect the credit card from us. This worksheet is designed for your internal use to track the information you need to close your old accounts. Materials alaska department of health and social services. Ask students to write in large print positive on one card and negative on the other card. If you dont understand some of the terms, see the definitions below.
Set up an free account with and access hundreds of amazing printables. Credit cardsa package deal 2010, federal reserve bank of st. These allow you to borrow money up to a certain amount any time you want and generally offer flexible repayment terms. Do you plan on paying off your balance each month or maintaining a balance. Choose any three 3 credit cards from any categories and complete the grid. If the statement describes both a debit card and credit card, write the statement in the overlap between the two circles. If your earned income credit eic for any year after 1996 was denied disallowed or reduced by the irs, you may need to complete an additional form to claim the credit for 2019. Credit and debit cards certificates of deposit cds atms 2. Select the primary reasons for obtaining a credit card. High school credit activity oklahoma money matters. Fixed expenses, periodic fixed expenses, flexible expenses. Distribute 2 large index cards or 2 half sheets of paper to each student. Choosing the right one see below for printable lesson procedure. A teachers copy of each worksheet, including answers and hints, follows the students worksheet.
Identify which credit card you would choose and why. Louis permission is granted to reprint or photocopy this lesson in its entirety for educational purposes, provided the user. In the end, you hear music, voices, or other sounds. Fixed expenses, periodic fixed expenses, flexible expenses and indebtedness. Which parties participate in credit card processing. Credit cards are revolving debt, which means the minimum payment requirement changes based on your total balance. Using credit to your advantage pdf hands on banking.
Money math is one workbook of the everyday math skills series. Learn about credit with an introduction to credit cards, reading a credit card statement, and advanced lessons regarding incorrect credit card. Our free budget worksheet with common income sources and expenditures can get you started. Credit cards compare credit card offers nerdwallet. They then work through some problems on simple interest and monthly payments. Define credit card go over example explaining how to compute interest on credit cards assign the credit card activity worksheet. Many credit card companies offer programs that reward you for using your card by providing incentives like cash back, airline miles or points you can use for discounts on goods and services. Resources american consumer credit counseling accc is a nonprofit 501c3 organization. High school credit activity items needed copies of okmms. Be sure to adjust the budget categories to best re. Your first credit card manage it right and it could lead to a world of possibilities. This is an activity in which the students answer questions about different payment options with credit cards 10 minutes. Building a budget takes work, but you dont have to do it alone.
Look for a card with no annual fee and a longer grace period so you dont get hit with a finance charge. Explain why anna might choose each of these two options. Debit card simulation and student worksheet understanding checking accounts and. The credit card offers for scott are offered to all users of mint. If theyre too credit averse and use cash or debit cards for everything, they will not establish a credit history and could have a hard time qualifying for a mortgage or car loan. Teachers guide the secret history of the credit card. To help you track your expenses and build a monthly budget, use the following worksheet for at least two or three consecutive months. Students are to toss the coin with the correct value to the target with the matching value.
A credit card works a lot like a cd you know, that thing people used before ipods came out. Credit and credit card lesson plans, consumer credit. This chapter is for people whose earned income credit eic for any year after 1996 was denied or. Look for a card with no annual fee and a longer grace period so. Grades 9 12 high schoolers learn about relevant financial skills like managing salary, buying a car and avoiding debt. This exercise will give you a chance to shop for and compare the costs and features of three credit cards. Using the attached form, research the costs and features of. This content is not provided or commissioned by the credit card issuer. The student will be able to define terms associated with opening and using an. Free financial literacy lesson plans for high school teachers. With both types of credit, the maximum amount you can borrow, or credit limit, depends upon your credit score, income, and other factors that determine your ability to repay. Choosing and using a credit card responsibly when making the decision to get a credit card, ask yourself this question.
This site may be compensated through the credit card issuer affiliate program. If youre going to pay the bill in full every month, then the interest rate doesnt really matter to you. Bookmark this page for access to the latest version of this file. Before you complete a credit card application, make sure you understand all of the terms and conditions that apply to the card. If you pay off your balance on time each month, you can tolerate a higher interest rate. Switching your business checking account to pnc is easy, and this. For more information contact audrey brown, administrative director, mqed and financial literacy center at dartmouth college. However, we recommend setting fixed payments so you can pay your balances off faster. Teaching kids about credit and understanding credit cards.
Before you choose a credit card before you choose a credit card. Distribute a copy of the family activity sheet to each student to share what theyve. Nerdwallets credit card finder tool helps you pick the best credit card for your needs. Students should read the lesson, and then complete the worksheet exercise. When you put a cd into a cd player, the reader in the machine analyzes codes on the back of the cd. Calculating what happens to a credit card balance this test is part of the dartmouth money matters curriculum. This will give you a sense of where you are spending your money and changes you can make to improve your situation, if necessary.
The calculator assumes you are paying off the unpaid principal. Fill out the following table to help you shop around for a credit card. Instruct participants to use their understanding credit cards information sheet 2. If you are actively using a card, then purchases made in the past month usually have a grace period of a month before interest is charged. The teachers guide includes activity worksheets which allow your students to apply what they have just learned to reallife scenarios. Introducing the credit card exercise 2 choose the best answer. F1 to find and record the definition of each vocabulary word in. When it comes to the value of a good credit history, the lessons parents impart today can help kids establish positive habits later.
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