Content Area: Career Education and Consumer, Family, and Life Skills

 

Index: 9.2E Grade 8 CPI 4

 

Standard: 9.2 - Consumer, Family, and Life Skills

 

Strand: E - Consumer and Personal Finance

 

Cumulative Progress Indicator: 4 -  The student will explain the difference in cost between cash and credit purchases.

 

Grade: 8

 

Sample Activities:

 

·       A public relations firm has been hired to develop and produce a documentary alerting young adults to the need for fiscal responsibility when using credit cards. As an employee, you have been asked to develop a five-minute demo for the client.

 

·       Many people buy groceries using checks, cash, debit cards, and credit cards.  Which method could cost you more money?  Explain your answer.  A family friend has just moved to this country.  Explain the advantages and disadvantages of each type of payment.

 

·       Think about future use of credit cards.  Answer the following questions:

    1) If you had credit cards, would you buy the same things?  More?  Less?  Why or why not?

    2) Would people with credit cards make fewer purchases if they had no credit cards?

    3) How can you use credit cards and pay no finance or interest charges?

    4) Does credit enable people to have a better life style of put them deeper in debt?  Explain your answer.

    5) What is a credit card junkie?

    6) What is meant by the term "billing cycle?"

    7) How can you use the billing cycle to your advantage?

    8) Do all credit card companies charge the same interest rates?  Why or why not?  Why is this important?

    9) How can you find out what the credit card companies' interest rate are?

    10) When is it unwise to use credit cards?