Borrowing Basics

Building: Knowledge, Security, Confidence Borrowing Basics FDIC Money Smart for Young Adults Presenter: Barbara J. Stark September 2010

Today we will talk about: ,[object Object],[object Object]

You will learn how to: ,[object Object],[object Object],[object Object],[object Object]

Todd, the Cell Phone and the Student Credit Card: Fact or Fiction?

Credit ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Why is Credit Important ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Types of Loans ,[object Object],[object Object],[object Object]

Installment Loans ,[object Object],[object Object],[object Object],Money you borrow to pay for:

Home Loans ,[object Object],[object Object],[object Object]

Activity 1: Types of Loans ,[object Object],[object Object],[object Object],[object Object]

Fees ,[object Object],[object Object],[object Object]

Interest ,[object Object],[object Object],[object Object],[object Object],Financial institutions charge money at a certain rate to let you use their money:

How much does credit really cost? Amount Financed APR Finance charge Total paid Beware of “Penalty APRs” and “Universal Default” on credit cards $5,000.00 12% $600.00 $5,600.00

Activity 2: Borrowing Money Responsibly ,[object Object],[object Object],[object Object]

The Four Cs of Credit Decision Making

Capacity ,[object Object],[object Object],[object Object]

Capital ,[object Object],[object Object]

Character ,[object Object],[object Object]

Activity 3: The Four C’s and Barriers to Borrowing Money ,[object Object],[object Object],[object Object],[object Object]

Activity 4: Questions to Ask Before Applying for Credit ,[object Object],[object Object],[object Object]

Tips for Managing Your Credit ,[object Object],[object Object],[object Object],[object Object],[object Object]

Rent-to-Own ,[object Object],[object Object],[object Object]

Be Smart! Tips ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

CONCLUSION: Todd, the Cell Phone and the Student Credit Card

Borrowing Basics ,[object Object],[object Object],[object Object],[object Object],Congratulations! You have learned:

Assess Your Knowledge Don’t forget to complete the Knowledge Check in your Participant Guide.

Thank you! ,[object Object],[object Object],[object Object]

Borrowing Basics

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