In Week 6 students learn about credit cards. In today’s economy, a credit card can be a valuable financial tool. In addition, effective use of a credit card is the fastest way for most students to build their credit score. In the Budget Challenge, students choose between two credit card options during the vendor selection process. Expenses such as groceries, meals away from home, gas, and all other spending that is not a recurring bill is accomplished with the credit card. All students have the same charges applied to their accounts at the same time, and these charges will typically total $500 to $750 per month. Students are rewarded for keeping their credit utilization low. Part of the challenge of the Budget Challenge is managing cash flow. Like in real-life, students may find it difficult to pay off their credit card balance in full every month, pay bills on time, save money for retirement and still have money left over.
Before you leave class today you will learn about:
- Credit Card Types (CW6.4)
- Advantages and disadvantages of credit cards (CW6.1)
- Credit Card financing (CW6.2)
- Rights and Responsibilities (CW6.3)
- Building Credit (CW6.5)
- Damaging Credit (CW6.6)
- Credit Card Basics (CW6.7)
- Log in to your Budget Challenge account
- From your Dashboard under Written Tests click VIEW DETAILS and next to (CW6) CREDIT CARDS click UNIT MATERIAL
- READ EVERYTHING & WATCH ALL THE VIDEOS!! TODAY IS A LEARNING DAY!!
- Once you feel like you know everything there is to know from the Unit Materials, take the quiz–you do not have to do this today!!