Lesson 2: Creditor?
Time Required: 30 minutes
Student Reproducible 2 (PDF); Student
Finance Guide (PDF) for each
Students will use their own reasoning skills and experience, along
with information provided, to determine whether Joe should apply
for a credit card, debit card, both, or neither.
- Ask students: Have you ever had a credit or debit card? Have
students describe how, why, and when they received the card,
how they use it, and whether they've run into any problems.
- Distribute Creditor? Student Reproducible 2
and the Student Finance Guide. Read through the reproducible
material. Then divide the class into groups and have them fill
in the pro/con charts.
- When the charts are complete, have each group share its results.
Create a master chart on the board. Discuss the pros and cons
of credit and debit cards.
- Have students vote on what they think Joe's decision should
be. As homework, have students review the "Creditor?"
page in the Student Finance Guide. The following day,
discuss what they have read. How would they handle credit card
debt? What is the difference between a credit card and a loan?
Extension Ideas: Have students
gather any information they can about accounts offered by local
banks. Share the information in class and ask students to compare
and contrast the different options.
Social Studies: Production, Distribution,
Economics: Decision Making; Interest
English: Workforce Demands; Research
Financial Literacy: Money Management;
Photos from top to
bottom: © Rubberball Productions, © CORBIS.
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