Credit cards are convenient, user friendly, and at times dangerous. In this lesson students learn the joys and dangers of using credit as they help Credit, the main character in this activity, solve her credit problems.
Consumers are faced with tough choices because so many innovative and exciting products and services are available. Therefore, engraining a decision-making process that includes considering of opportunity cost is necessary to shape future consumer behavior.
During the week of September 20, 1998, the US Senate agreed to debate a bill (S 1301), intended to make it more difficult for people of means to use bankruptcy to walk away from debt. Those who could pay at least 20 percent of their unsecured debt would be steered by judges to file for Chapter 13 bankruptcy, which entails some repayment. They no longer would qualify for Chapter 7, which requires little or no repayment. The bill also would provide more collection tools to lenders such as credit card companies, stores and banks. An estimated 1.35 million Americans filed for bankruptcy last year, up 25 percent from 1996 and double the 1986 level, according to participants in the debate. Discussion topics include credit card debt, bankruptcy, loans, interest rates and financial literacy.
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
Use this DVD program to show students how to live healthy, wealthy and risk-free.
4 out of 12 lessons from this publication relate to this EconEdLink lesson.
Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
4 out of 40 lessons from this publication relate to this EconEdLink lesson.
This publication contains 23 lessons that introduce high school students to the world of investing--its benefits and risks and the critical role it plays in fostering capital formation and job creation in our free market system.
3 out of 23 lessons from this publication relate to this EconEdLink lesson.