- Identify the costs of using various types of credit.
- Watch Video 1.2
- As you watch the video, record the missing words from page 78 of the textbook as they pop up on the left side of the video screen by filling in this form. (page 78) .
- Discussion Questions:
- Have you ever been told that you needed to “build your credit”? If so, who did you hear it from and why was it stated?
- How is the buyer slave to the lender?
- What do credit card companies and other lenders have to gain from consumers falling for the credit myths?
- What are other financial myths that young adults often fall for?
- Obtain a partner from your teacher.
- Make a copy of this Hidden Costs of Credit (Espanol) handout, rename it Cost of Credit-(Your Initials), and move it into your Lesson 1 folder.
- Read the directions on the handout and complete it with your partner.