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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.