Using Credit Standards and Resources
Credit: Buy today and pay tomorrow! Credit is good because it allows people to purchase goods and services that they use today and pay in the future--with interest–or else there can be consequences. Students should learn how to make calculations about borrowing, which include payments and compound interest. From credit scores to student loans to bankruptcy, this is an essential standard for financial literacy.
* Credit image from 401kcalculator.org
More Articles on Credit and Behavioral Economics
Check out more resources for teaching about credit. Links include the websites from Financial Freedom Ch. 4. The teacher guide for Financial Freedom Ch. 4 is below.