financial literacy unit presentation
TRANSCRIPT
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FINANCIAL LITERACY
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INTRODUCTION
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One things forsure, it
doesnt growon trees!
Even thoughwe wish it did
ow "one# is$rinted
Wheredoesmoneycomefrom?
http://money.howstuffworks.com/54-how-money-is-made-video.htmhttp://money.howstuffworks.com/54-how-money-is-made-video.htmhttp://money.howstuffworks.com/54-how-money-is-made-video.htmhttp://money.howstuffworks.com/54-how-money-is-made-video.htm -
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%urve#
Do #ou &urrent'# h(ve( s(vings (&&ount)
Do #ou &urrent'# h(ve( &he&*ing (&&ount)
Do #ou $'(n on owningor &urrent'# own ( &(r)
+h(t is ( good interestr(te for ( &(r 'o(n)
Do #ou $'(n on owning( house one d(#)
+h(t wou'd #ou do ton(n&e #our house)
+h(t is ( down$(#"ent)
C(n #ou $ur&h(se (house without ( down$(#"ent)
Do #ou &urrent'# h(ve (&redit &(rd or 'o(n)
+h(t is ( &o-signer)
+h(t h($$ens if #ouh(ve ( &o-signer on ('o(n (nd #ou neg'e&t
#our $(#"ents)
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Co"$'ete the
.uestionn(ire in #ournotes +e wi'' dis&us
#our Re$onses in (few "inutes
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+h# stud# n(n&i(' 'iter()
The st(te s(#s we need to!
The nu"/er of fore&'osures (nd/(n*ru$t&ies (re in&re(sing
Une"$'o#"ent &ontinues to /e unst(/'eCredit &(rd use h(s gotten out of &ontro'
You h(ve the &h(n&e to /e s"(rt with #ourn(n&es fro" the ver# /eginning!
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0(si& 1o&(/u'(r#
Revenue2wh(t #ou e(rn
E3$enses2wh(t #ou s$end
Net 4rot2tot(' revenues "inus tot(' e3$ensesNet In&o"e2s("e (s net $rot
De$re&i(tion2redu&tion in v('ue over ti"e
A$$re&i(tion2in&re(se in v('ue over ti"e
Consu"er2 ( $erson who /u#s goods (ndservi&es
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5ore 1o&(/u'(r#
Credit2"one# th(t ( /(n* or /usiness wi'' (''ow( $erson to use (nd then $(# /(&* in the future
Asset2so"ething #ou own th(t h(s v('ue
Li(/i'it#2so"ething #ou owe for
0('(n&e2the di6eren&e /etween &redits (ndde/its in (n (&&ount
0udget2(n ("ount of "one# (v(i'(/'e fors$ending th(t is /(sed on ( $'(n for how it wi''/e s$ent
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Fin(n&i(' Liter( 1o&(/u'(r#Assign"entDirections: Using the vocabulary we just went over,
you are to pick ve words
!fter picking your " words you are to create a
#poster$ for each word using Word, %ower%ointor %ublisher
&our poster needs to include the following:
'he word
'he denition ! picture or symbol clearly showing what the
word means
! sentence clearly showing an understanding ofthe word(s meaning with the vocab word includedin the sentence
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%4ENDIN7 5ONEY 8 DE0T
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ousing9Uti'ities
FoodTr(ns$ort(tion
Retire"ent
Edu&(tione('th C(re
Insur(n&e
ouseho'd %u$$'ies
%(vingsEntert(in"ent
4erson(' C(re4rodu&ts
Ch(rit(/'e Don(tions
T(3es
5is&e''(neous
Do #ou never h(ve enough"one#)
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+h(t do I do)
5ortg(ge: ;
Uti'ities: ;?@-;BB
7ro&eries: ;B>
Tr(ns$ort(tion: ;?>>for g(s ( "onth
C(r 4(#"ent: ;=>
Retire"ent: ;=B
Edu&(tion: ;B>> for"# student 'o(n
e('th C(re: ;=@
C(r Insur(n&e: ; ("onth
ouseho'd %u$$'ies:v(ries--;B>> ( "onth
%(vings: ;B>> ( "onthEntert(in"ent: ;>
Don(tions: ;B>
Other - ;>Internet
4hone
%ho$$ing
4erson(' Lo(ns
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+h(t do others do)
Food is ( huge e3$ense for $eo$'e!
? of &onsu"ers (re s$ending "ore or
the s("e on gro&eries (s the# were B#e(rs (go
ow &(n $eo$'e s(ve "one# on food)
ow &(n #ou &ut /(&* on other e3$enses)
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CREDIT CARD%
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Credit
The denition of &redit is the /orrowing&($(&it# of (n individu(' or &o"$(n#
You &(nnot /orrow "one# without ( &redithistor# so"eti"es ( 'ender wi'' re.uire (&o-signer
You /ui'd #our &redit histor# /#/orrowing "one# (nd $(#ing it o6
$(#ing /i''s on ti"e
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Credit %&ores
5ost 'enders use the FICO "ethodThe nu"/ers r(nge fro" =>> to >
The higher the s&ore, the /etter #our &redit
Your s&ore is /(sed onYour $(#"ent histor# G=H2higher if #ou $(# on
ti"e
Outst(nding de/t G=>H2(n if #ou owe "ore th(n
#ou e(rnLength of &redit histor# G?H2how 'ong #ouve
/een /orrowing "one#
New &redit G?>H2getting ( new &(rd or 'o(n
T#$es of &redit G?>H2(re #ou diverse)
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+(rning: C(refu' ow You %$end
ee$ing #our &redit s&ore he('th# (''ows #ou to t(*e out'o(ns with ( 'ower interest r(teLower Interest R(te J Lower 4(#"ent!
Your &redit 'i"it J The ("ount #ou (re ($$roved for on( &redit &(rdYou &(nnot go over #our 'i"it!
5(*e sure to on'# use => of #our &redit 'i"it, to *ee$#our s&ore he('th# (nd highie ;?>> Credit Li"it J %$ending no "ore th(n ;=> ( "onth
ie ;@,>>> Credit Li"it J %$ending no "ore th(n ;B,?>> ("onth
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You &(n /u#so"ething when #ou
dont h(ve the &(shfor it
%(fer th(n &(rr#ing&(sh
E(sier to use th(n (&he&*
e'$s est(/'ish &redit
E(sier to s$end"one# #ou dont
h(veNeed to $(# interest
2(nd r(tes v(r#
C(n &h(rge (n
(nnu(' fee
4en('ties for '(te or"issed $(#"ents
Credit C(rd Use
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ow do I 7et ( Credit Re$ort
Free Credit Re$orts2dont trust the &o""er&i('s!On'ine: 1isit !nnual)redit*eportcom
GThis is the ONLY site th(ts tru'# free!Dont /e foo'ed /# (ds s(#ing otherwiseH
Due to the $(ss(ge of the B>>= F(ir (ndA&&ur(te Credit Tr(ns(&tion A&t GFACTAH, (''
A"eri&(ns (re entit'ed to one free &reditre$ort fro" e(&h of the three "(Mor &reditre$orting (gen&ies2E.uif(3, E3$eri(n (ndTr(nsUnion2u$on re.uest ever# ?B "onths
http://www.youtube.com/watch?v=7dFbNw3bpKEhttp://www.youtube.com/watch?v=7dFbNw3bpKEhttp://www.youtube.com/watch?v=7dFbNw3bpKEhttp://www.youtube.com/watch?v=7dFbNw3bpKE -
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+hen To Use De/it vs Credit
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0ANIN7 8 %A1IN7%ACCOUNT%
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There (re ve di6erent t#$es of(&&ounts th(t (re (v(i'(/'e (t"ost /(n*s
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Che&*ing A&&ount
Uses ( &he&* (s the $ri"(r# "(nner ofwithdr(wing "one#
C(n ('so use ( &he&* to "(*e $ur&h(ses
5ost h(ve AT59De/it &(rds (tt(&hed tothe"
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+riting ( Che&* ?>?
? D(te
B +ho #oure $(#ing
= Do''(r ("ount innu"/ers
Do''(r ("ount in words
O$tion(' "e"o
%ign(ture
@ N("e9Address94hone Che&* Nu"/er
Codes for the /r(n&h
?? Routing nu"/er
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+riting ( &he&* ?>?
Bill for: Ford Auto
Price: $592.89
Account Number: 321876!
+ord !uto
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+ive /undred 0inety1'wo2 34-55
6hayla
7reer!cct 8:.9-3;55