Financial Literacy Unit Presentation

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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

    "-.-"

    +ive /undred 0inety1'wo2 34-55

    6hayla

    7reer!cct 8:.9-3;55