- 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”?
- What do credit card companies and other lenders have to gain by consumers falling for these 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 handout, rename it Cost of Credit-(Your Initials), and move it into your Chapter 4 folder.
- Read the directions on the handout and complete it with your partner.
- In your Personal Finance Journal-C4 file in your Chapter 4 folder, complete the next row in the table by answering the question listed.