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Money Smart for Young People

Grades 9-12

Lesson 8: The Almighty Dollar

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Two Truths, One Lie

Money Smart for Young People Grades 9 -- 12

Credit cards…

  1. Are used to purchase goods and services
  2. Take money from your checking account when used to pay

for purchases

  1. Are subject to interest charges if not paid in full each month

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Credit Versus Debit

Money Smart for Young People Grades 9 -- 12

  1. Which card requires you to have enough money at the time you pay for something?
  2. Which card's balance can increase and accrue charges if you do not pay the entire amount each month?
  3. Which card(s) may have fees associated with them?
  4. Which card generally offers purchase protections against faulty goods?
  5. Which card allows you to pay for unexpected emergencies when you do not have enough money?

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Credit Card Fine Print

Money Smart for Young People Grades 9 -- 12

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Annual Percentage Rate (APR)

Penalty APR

Fees

Grace Period

Credit Limit

Consumer Protection Laws

Credit Card Solicitations

Debt-to-Limit Ratio

CREDIT CARD FINE PRINT