Intro to Credit

EQ - How does credit impact personal finance?

1. Activator: Anticipatory Guide
2. The Business of Credit
3. Credit Simulation
4. Partnership Training - PPT - Credit Basics
1. Define Credit
2. Sources of Credit
3. Advantages and Disadvantages of Credit
4. How Credit Works
5. Types of Credit
6. Alternative Credit
7. Shopping For Credit
5. Credit Activity 1
6. Credit Activity 2

EQ - How can understanding how a good credit score is determined impact your life in the future?

1. Activator: What is the greatest advantage of using credit?  Justify your answer.
2. Intro Credit Report PowerPoint
1. Credit Report Detectives, Inc - Client Isabella
2. Credit Review
3. Parties involved in Credit Reporting
4. 4 Categories of a Credit Report
5. Impact of a Credit Score
6. Determining a Credit Score
7. Positive vs. Negative Credit Score Decisions
3. Summarizer - What you do makes a difference
4. AP - Positive Practices
5. AP - Negative Practices
6. AP – Summary
7. Debriefing

TOD - Muddy Points

Intro to Depository Institutions

EQ - How can bank accounts benefit me?

1. Activator – How does the banking system work
1.  Draw and label a picture of how you believe the banking system works
2. Chalk Talk – How banks work
3. AP – Update your picture and summarize how banks work on the back of your paper
4. AP – Reading Response Questionnaire
1. What are savings and checking accounts, and how do they differ?
2. How can opening a bank account help you learn to budget? Why is this important, especially if you use a debit card?
5. Discussion Question - How do you know which bank is right for you?
6. Shared Inquiry - Did You Know
1. Identify unknown words
2. Identify questions you have
3. Discussion 
7. AP - Top 3 - Identify and Rank
1.  Students partner up to list as many reasons as they can to explain why bank accounts are important.
2. Groups will list reasons on the board and then explain why they believe their group has the best reasons.
3. TOD - Students will individually rank their top 3 reasons that teens should learn about banks and bank accounts?

Homework - Complete the Note Taking Guide and be prepared to use the information tomorrow in class.  Intro to Depository Institutions PPT - CLICK HERE FOR THE PPT

Practice

George works as a customer service representative and earns $33,000 per year after taxes.  He has two savings accounts; one at a credit union and the other at a local bank.  These accounts provide him with interest of $135 and $105 interest respectively.  George just recently purchased a new car and owes $400 per month for his car payment.  The car insurance company charges $185 per month and he estimates his upkeep and maintenance will cost him $50 a month.  George rents a one bedroom apartment in a choice location for $950 per month.  His utility bills cost him $225 per month.  In addition, George pays $65 per month to park his car in a secured lot.  George pays $125 per month for the latest iPhone and $125 for the Comcast Triple Play.  His medical and dental insurance plans cost him $175 each per month.  He shops frequently and spends $150 per month on clothes and $200 per month on groceries.  Georges uses $125 of gasoline each month and uses $80 for dining out.  He estimates his miscellaneous monthly expenses are $150.