Day 29

Lesson Objectives

  • Identify the costs of using various types of credit.
  • Evaluate and refute the myths associated with debt.
  • Apply systematic decision making to identify the most cost-effective option for purchasing a car.
  • Identify various types of mortgage loans and the most cost-effective option for purchasing a home.
  • Evaluate ways that debt can negatively affect your financial future and how to overcome personal debt. 
  • Describe the elements of a credit score.
  • Understand how to obtain a credit report.
  • Explain how a credit score affects creditworthiness and the cost of credit.
  • Explain the factors that affect a credit score.
  • Analyze a credit report, indicate the time that certain negative data can be retained, and describe how to dispute inaccurate entries. 
  • Identify organizations that maintain consumer credit records. …
  • Summarize major consumer credit laws.
  • Develop a plan for protecting personal information. 

Assignment 4.S.1

  1. Read each of these statements and mark whether you agree or disagree.

Assignment 4.S.2

  1. You’ve learned that there are many myths in our culture when it comes to the use of credit.  Review the chapter and your Google Forms and select five credit myths that were most surprising to you.  Do complete this, do the following:
    1. Create a new Google Document titled Credit Myths-(Your Initials) and place it in your Chapter 4 folder.
    2. Create a 2 x 6 table, like the one below, in your document.
    3. Fill in both the myth and truth for each of them.

Assignment 4.S.3

  1. Utilize this review to assess your learning from Chapter 4.  You have 10 attempts to get as good of a score as you can.  You are free to use the online textbook above when going through this review.

Assignment 4.S.4

  1. Make a copy of this document.  
  2. Rename the document Short Answer 4-(Your Initials).
  3. Move the Short Answer 4-(Your Initials) into your Chapter 4 folder.
  4. Use your Chapter 4 textbook link to help answer your questions.
  5. Answer the questions in complete sentences.

Assignment 4.S.5

  1. Make a copy of this document.
  2. Name the document Case Studies 4-(Your Name) and move it into your Chapter 4 folder.
  3. Read three of the cases and write a possible resolution to the problems presented. Remember to apply the personal finance knowledge and principles you have learned in this chapter.