iSEEK - Education

non-educational purposes can trigger taxes and other financial penalties. Secured credit The ability of an individual or a business to borrow money using assets, such as cash or real estate, as collateral. This means that if the borrower does not repay the debt as agreed, the lender has the right to take ownership of the assets. Secured credit card A credit card secured by a savings account. The money in the savings account is collateral and may be claimed by the company issuing the card if the

60 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#page=60 www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#pag...

HANDS ON BANKING® • TEACHER’S GUIDE YOUNG ADULTS • SPENDING $ • www.handsonbanking.org 60 Section 1: Smart Shopping Students explore ways to make the most of their money when shopping for everyday items, using cell phones, and planning large purchases. Opening Questions Use these or similar questions to start students thinking about this concept and how it relates to them: • Describe a time that you bought something on impulse. What did you think about your purchase at the time and what did you

78 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#page=78 www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#pag...

account. Manage it well. Never spend more than you have in the account. Over time, your bank will see that you’re reliable, someone they can trust to repay a loan. Or get your own bank or store credit card and pay your bill on time, every month. States laws vary on the minimum age to get a credit card of your own. Check on the law in your state. Another way to build credit is to take out a small loan, let’s say for a computer, and make your full monthly payment on time, every month. With each of these steps

86 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#page=86 www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#pag...

When you apply for a card, they’ll check your credit history and decide whether or not to give you a card. They’ll also decide how much you’re allowed to borrow, or “charge.” This is called your credit limit. If the credit card company issues you a card, they’ll let you know what your credit limit will be. • If you haven’t established a good credit history yet, some lenders offer secured credit cards. These are ideal for people who are starting out on their own or need to rebuild their credit. To qualify

90 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#page=90 www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#pag...

card company. The phone number is on your statement. • Credit cards can be very helpful and convenient, but it all comes back to having the cash to pay for what you charge. As we’ve seen, you pay a price for keeping an unpaid balance on your credit card from one month to the next. If you want to save money, try to get a credit card with a low interest rate and pay off your balance every month. Here are some more valuable tips about using credit cards wisely: Tips for using credit cards wisely • For

93 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#page=93 www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#pag...

money available for paying off your debts and learn to live within your means. Disadvantages: Making debt repayment your priority will probably mean postponing or doing without some other purchases. Home equity loans Advantages: The interest rate is usually lower than credits cards and the interest is tax-deductible. Monthly payments are much lower because the term of the loan is spread out over a long term. Disadvantages: Remember, home equity loans are secured by your home. If you fail to make your

128 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#page=128 www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#pag...

on time and in full, you’ll establish a solid credit history. Consider getting just one card with a low interest rate and a low spending limit. Use it for emergencies or planned purchases only. Don't use your credit card for routine living expenses or for partying with friends. Whenever possible, pay in cash or use a debit card rather than using a credit card. Weigh the value of part-time work Remember, there are 168 hours in a week. If you sleep for 56 hours attend school for 40 hours, that leaves 72

176 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#page=176 www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#pag...

plan each time that the employee makes a contribution. Marketing The activities of a business (such as advertising, offering special sale prices, etc.) designed to gain new customers and to interest customers in continuing to do business over time. Merchandise The products a business offers for sale to its customers. Merchant card processing A service offered by credit card providers, including many banks, that allows a company to accept credit card and debit card payments where it does business or

179 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#page=179 www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#pag...

non-educational purposes can trigger taxes and other financial penalties. Secured credit The ability of an individual or a business to borrow money using assets, such as cash or real estate, as collateral. This means that if the borrower does not repay the debt as agreed, the lender has the right to take ownership of the assets. Secured credit card A credit card secured by a savings account. The money in the savings account is collateral and may be claimed by the company issuing the card if the

www.handsonbanking.org/nav_elements/teachers_guide_PDF/YA_T_Guide.pdf#pag...

Average Rating (0 votes)

Hands On Banking Dictionary

10 10

13 13

14 14

1 0

Hands on Banking® - Dictionary © 2003, 2006 Wells Fargo Bank, N.A. All rights reserved. Secured credit card A credit card secured by a savings account. The money in the savings account is collateral and may be claimed by the company issuing the card if the account holder fails to make the necessary payments. Using a secured credit card, and paying according to the terms of the agreement, can be a good first step for individuals or businesses that want to establish or rebuild their credit. Secured

10 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/HOB_Dictionary.pdf#page=10 www.handsonbanking.org/nav_elements/teachers_guide_PDF/HOB_Dictionary.pdf...

she can continue to borrow against the line of credit during the agreed upon time period. A line of credit can be unsecured or secured. Also called a credit line. Living wage A dollar amount higher than the federal minimum wage that’s designed to provide workers with a level of pay that allows them to meet their basic needs. Loan An agreement between a borrower and a lender, where the borrower agrees to repay money with interest over a period of time. Long-term loan A loan that can be paid back

13 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/HOB_Dictionary.pdf#page=13 www.handsonbanking.org/nav_elements/teachers_guide_PDF/HOB_Dictionary.pdf...

amount of money, repay the money borrowed with interest when it is due, and then borrow the money again. The most popular kind of revolving credit account is the credit card. Risk The measurable likelihood of loss, or less-than-expected return, on an investment or a loan. Rollover The transfer of funds from one investment to another. For example, when an employee leaves a job that offered a 401(k) retirement plan, the funds can be moved, or rolled over, to his or her new employer’s plan, usually

14 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/HOB_Dictionary.pdf#page=14 www.handsonbanking.org/nav_elements/teachers_guide_PDF/HOB_Dictionary.pdf...

Hands on Banking® - Dictionary © 2003, 2006 Wells Fargo Bank, N.A. All rights reserved. Secured credit card A credit card secured by a savings account. The money in the savings account is collateral and may be claimed by the company issuing the card if the account holder fails to make the necessary payments. Using a secured credit card, and paying according to the terms of the agreement, can be a good first step for individuals or businesses that want to establish or rebuild their credit. Secured

www.handsonbanking.org/nav_elements/teachers_guide_PDF/HOB_Dictionary.pdf...

Average Rating (0 votes)

Hands On Banking Adults: Teacher's Guide

73 73

82 82

108 108

136 136

138 138

160 160

163 163

1 0

collateral. This means that if the borrower does not repay the debt as agreed, the lender has the right to take ownership of the assets. Secured credit card A credit card secured by a savings account. The money in the savings account is collateral and may be claimed by the company issuing the card if the account holder fails to make the necessary payments. Using a secured credit card, and paying according to the terms of the agreement, can be a good first step for individuals or businesses that want to

73 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#page=73 www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#...

quickly as possible. You’ll have more money available for paying off your debts and learn to live within your means. Disadvantages: Making debt repayment your priority will probably mean postponing or doing without some other purchases. Home equity loans Advantages: The interest rate is usually lower than credits cards and the interest is tax-deductible. Monthly payments are much lower because the term of the loan is spread out over a long term. Disadvantages: Remember, home equity loans are secured by

82 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#page=82 www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#...

HANDS ON BANKING® • TEACHER’S GUIDE 82 ADULTS • BORROWING MONEY • www.handsonbanking.org Section 6: Credit cards Participants investigate the basics of credit cards, and how to use them wisely and safely. Opening Questions Use these or similar questions to start participants thinking about this concept and how it relates to them: • Why might someone want to make a purchase with a credit card rather than paying cash or taking out a loan? • Would you recommend to someone to have many credit cards

108 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#page=108 www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#...

You may be able to save money by buying homeowner’s insurance from the same company that carries your car insurance. Using your home equity As you make mortgage payments through the years, you build home equity. Equity is the difference between how much your home is worth and how much you still owe for it. You may be able to borrow against that equity. Two ways to borrow using your home as collateral are: A home equity loan (second mortgage), which is a loan that is secured by your home and is

136 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#page=136 www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#...

HANDS ON BANKING® • TEACHER’S GUIDE 136 ADULTS • ESTABLISHING A SMALL BUSINESS • www.handsonbanking.org • In the Borrowing Money unit of the Hands on Banking Adults program, participants will find an introduction to the subject of credit: what credit is, how to get good credit, and how to obtain and read a credit report. Participants also learn how to apply for loans and credit cards and how loan decisions are made. • Before a lender will give you credit, they must have trust and confidence that

138 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#page=138 www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#...

secured credit card, you can improve your qualifications for unsecured credit in the future. • In the Borrowing Money unit in the Hands on Banking Adults program, participants will find a general introduction to credit cards – what they are and how they work. Merchant card processing • It’s important to make doing business convenient for your customers. The more ways your customers can pay you, the easier it will be for them to buy. • Credit card providers, including many banks, offer merchant card

160 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#page=160 www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#...

advertising, offering special sale prices, etc.) designed to gain new customers and to interest customers in continuing to do business over time. Merchandise The products a business offers for sale to its customers. Merchant card processing A service offered by credit card providers, including many banks, that allows a company to accept credit card and debit card payments where it does business or online. MI (see Private mortgage insurance) Minimum balance A specific amount of money required by a financial

163 0 http://www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#page=163 www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#...

collateral. This means that if the borrower does not repay the debt as agreed, the lender has the right to take ownership of the assets. Secured credit card A credit card secured by a savings account. The money in the savings account is collateral and may be claimed by the company issuing the card if the account holder fails to make the necessary payments. Using a secured credit card, and paying according to the terms of the agreement, can be a good first step for individuals or businesses that want to

www.handsonbanking.org/nav_elements/teachers_guide_PDF/Adult_T_Guide.pdf#...

Average Rating (0 votes)

Consumer Credit: Buy Now, Pay Later, and More.

3 3

4 4

9 9

1 0

your credit card to consolidate debts? Do you use your credit card so you can use something before paying for an item? Do you use your credit card to establish a credit history? Do you purchase gas with a credit card? Do you purchase consumable goods with your credit card? Do you purchase durable goods with your credit card? Do you pay off your bill monthly? Do you pay the minimum each month? Do you pay a set amount each month? Estimate your monthly cost of using your credit cards

3 0 http://ecedweb.unomaha.edu/lessons/buy9-12.pdf#page=3 ecedweb.unomaha.edu/lessons/buy9-12.pdf#page=3

credit cards. Studies have shown that many people who don’t pay off their bills every month will say that they do.) Note: If your school is located in a low socioeco- nomic area or has a large immigrant population, it may be difficult to find high usage of credit cards due to income or cultural values. Then discuss, why is credit card usage low? 3. Ask, “Why do so many people continue to use credit cards when they do not know the finan- cial and opportunity cost(s) of using them? What are the benefits of using a

4 0 http://ecedweb.unomaha.edu/lessons/buy9-12.pdf#page=4 ecedweb.unomaha.edu/lessons/buy9-12.pdf#page=4

The word credit originates from the Latin word creditus meaning entrusted. Credit means that someone will lend you money and give you time to pay it back, usually with interest (money paid for the use or borrowing of money). When pur- chasing goods and services with your credit card, you are getting a loan from the issuer of the credit card. It is not used in place of cash. Consumers use credit cards to buy things they want or need. A credit card is a plastic card identifying the holder as a participant in

9 0 http://ecedweb.unomaha.edu/lessons/buy9-12.pdf#page=9 ecedweb.unomaha.edu/lessons/buy9-12.pdf#page=9

your credit card to consolidate debts? Do you use your credit card so you can use something before paying for an item? Do you use your credit card to establish a credit history? Do you purchase gas with a credit card? Do you purchase consumable goods with your credit card? Do you purchase durable goods with your credit card? Do you pay off your bill monthly? Do you pay the minimum each month? Do you pay a set amount each month? Estimate your monthly cost of using your credit cards

ecedweb.unomaha.edu/lessons/buy9-12.pdf#page=9

Average Rating (0 votes)

Why Do I Want All This Stuff?

8 8

9 9

1 0

8 0 http://ecedweb.unomaha.edu/lessons/want3-5.pdf#page=8 ecedweb.unomaha.edu/lessons/want3-5.pdf#page=8

9 0 http://ecedweb.unomaha.edu/lessons/want3-5.pdf#page=9 ecedweb.unomaha.edu/lessons/want3-5.pdf#page=9

ecedweb.unomaha.edu/lessons/want3-5.pdf#page=8

Average Rating (0 votes)

Back to search results

Total time to process: 6803ms - Cache load: 0ms.

All Subjects
Art/Dance
Career Education
Civics/Government
Economics
English Language Arts
English as a Second Language
Foreign Languages
Global Studies
Health/Physical Education
History/Geography
Mathematics
Music/Theater
Philosophy
Psychology
Professional Development
Religion
School Adminstration
Special Education
Earth Science
Life Science
Physical Science
Technology