Unit 6 The unit of Financial Literacy. Credit card use Usually use if someone has no money. If over...

Unit 6 The unit of Financial Literacy

Credit card use

• Usually use if someone has no money.

• If over use may have to pay dept.

• Will have pay back the bank.

Credit cards and your credit scores

• Credit cards should be use for emergencies.

• When you use one you borrow money.

• You pay interest after you borrow money.

Identity Theft

• When you steal someone’s identity.

• Can cause someone to take your money.

• Can use your name to get information.

Budgeting

• You can save money for the future.

• Income is when you receive money.

• Expenses is money spent for wants and needs.

• Salary, Hourly wage, Overtime, Commission ways to get money.

Saving and Investing

• Saving is short term, earn little.

• Investing is long term.

• Not guarantee money will increase or decrease

Interest rates and Borrowing

• Interest use when borrowing money.

• The longer you wait is bad.

• Means you will have to pay more.