What is Credit?

What is Credit?

Fill in the Blanks

Credit is money borrowed to buy something

and pay later.

Open Ended

How is purchasing power an advantage of using credit?

Drag and Drop

What is a very large purchase you can buy on credit?​

Placeholder

Drag these tiles and drop them in the correct blank above

A House

A pair of shoes

Open Ended

How does cash keep you from overspending?

Multiple Choice

When you use credit you owe money. This is called --

• debt

• assets

• fraud

• fees

Multiple Choice

The man in the video says people struggle to NOT buy

• things

• certificates of deposits

• essential items

Fill in the Blanks

Borrowing money is not

Fill in the Blanks

People or businesses make a profit loaning money by charging

Categorize

Options (7)

Ability to buy expensive items

Ability to pay for emergencies

Credit Cards can reduce the cash you carry

overspending

impulse buying

mounting debt

fraud risk

Organize these options into the right categories

Advantages of Credit

Disadvantages of Credit

Open Ended

"If you don't have the cash, you can't afford it."

"Debt is dumb"

Some people say debt is very bad, some say it's okay.

What do you think?

Multiple Choice

What is considered good debt?

• Home Loans - Mortgages

• Credit Cards

• Auto Loans

Open Ended

60% of homes in America have a mortgage

43 million Americans have student loans

82% of Americans have at least one credit card.

Is it possible to live without credit?

HOW?

Open Ended

What is one characteristic of a loan?