Module 3 - Credit, Debt & Loans
Topic 3 introduces the interrelated concepts of credit and debt, and their potential to positively or negatively impact future personal financial success. This module begins by covering basic myths and facts about credit, and ends with a case study example that demonstrates dos and don’ts of money borrowing and loan repayment.
After completing this module, the student will be able to:
Define ‘credit’, ‘interest’, and ‘debt’ and understand their relationship
Describe three reasons a good ‘credit score’ is important
Identify credit and money borrowing best practices
List three alternatives to using credit to make a purchase
Module outline (90 min)
Prework (15 min) - Credit, Debt & Loans vocab matching game
Introduction (10 min) - Activity: Fact or Myth?
Interactive PPT Presentation (25 min) - Overview of core concepts
Case study example (20 min) - Molly Borrows $50
Evaluation (10 min) - Post-topic quiz
Wrap up (10 min) - “What did we learn?” whiteboard activity