Week 5 - Credit Part 2

Post date: Oct 26, 2016 4:14:6 PM

Monday 10/31- (Double Credit entry...since it's 9-12 sentences)

What do you think are the "top 3 reasons why people borrow money?" For each of these reasons, write 3-4 sentences explaining:

- why so many people borrow money for this reason

- whether or not you think it's a good idea to borrow money for this reason

Due Friday - "Tale of 2 loans" google slides shared with jcotter@assabet.org

6 slides (besides the title page and any additional pictures)

1) The item that both people will take out a loan for (with link)

2) Person #1's credit story

3) Person #1's interest rate and payment plan (with link)

4) Person #2's credit story

5) Person #2's interest rate and payment plan (with link)

6) Total cost for both and comparison

Tuesday 11/1 For each of these purchases, write whether you should

"sometimes", "always" or "never" take out a loan to pay for them.

Explain your reasoning for each:

- House

- Car

- Vacation

- To pay for your College Education

- Your "first and last" months rent of your apartment

- To Pay for your Wedding

- To pay for your dad's knee operation

- To pay for your daughter's college education (imagine that you have one)

Exit Journal - Why is it important to have good credit before you

buy a new car? Summarize the DCU example we used in class.

Wednesday 11/2 - What are you going to buy for your

"Tale of 2 loans" project? (It has to cost between $10,000 and $50,000)

What are the "6 slides" that your presentation will need to have?

Thursday 11/3 - Foolproof #4 (Due Friday) Foolproof#5 (Due Next B-week Monday)

Friday 11/4 - Write a letter to a friend convincing them to get a checking account.

What are the benefits of having a checking account? (7-10 sentences)

Classwork:

1) Foolproof #4

2) Foolproof #5

3) Foolproof #16 "I'm broke" (extra credit)

4) Google presentation summarizing Foolproof #16 (extra-extra credit)