In this module, students will discover the secrets to developing good credit habits and learn how long it can take to pay off a credit card balance. The objectives are to pay off credit card debt, maintain a good credit rating by making payments on time and accumulate as many consumer goods and services as possible without running up credit card debt.

Key Concepts

Credit, Goods, Income, Interest Rate, Interest, Services, Credit Card

OTHER RELATED LESSONS

Goods and Services: Some are Private, Some are Not

The role of government is to provide for the common defense, define and protect property rights, and enforce contractual arrangements. Throughout the 20th and early 21st century, government has increased its role in economic life. The role of government has expanded to address so-called market fa...

Grades 3-5, 6-8

Calculating Simple Interest

How do banks calculate the amount of interest paid on a loan? In this lesson, students will view a Livescribe Pencast to learn how to find the dollar amount in interest that is due at maturity. This lesson uses different time periods such as days, months, and years in the calculation as well as...

Grades 6-8, 9-12

Trouble is Brewing in Boston - "Colonial Voices: Hear Them Speak"

It’s December 16, 1773 and many of the citizens of Boston are furious with King George’s new tax on tea. Young Ethan, a printer’s errand boy, has been given the task of conveying information concerning an upcoming protest meeting. As he makes his rounds through the city the reader is int...

Grades K-2, 3-5

To Buy or Not To Buy

While precise numbers are not known, it is believed the number of boycotts has grown markedly in the past fifty years. Consumers seem to be besieged by requests from special interest groups to refrain from buying certain goods and services. In this lesson, students study how boycotts have b...

Grades 6-8, 9-12

Mystery Workers

In this lesson students review the concepts of goods, services, and producers using the Internet to locate examples of each in a teacher's classroom. They learn about the three kinds of resources necessary to produce goods and provide services locating examples from a picture tour of the Cr...

Grades K-2, 3-5

INTERACTIVE TOOL REVIEWS

  • “Challenging and yet it is fun. Students will learn at the same time that they have the chance to find out what the opportunity cost is for decisions they make today.”

    Anna B., Glen Allen, VA   POSTED ON March 6, 2011

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