Chapter 5 -- Credit: understanding and using it wisely: link here. [119 of 352; page 108]. [60 minutes]
Begins on page 108 or 119 of 352.
Objectives:
- understand credit bureaus, credit scoring
- learn how to "use" credit cards
- learn how credit cards work; how to manage credit
- how to protect from risks of fraud
- Action: create a rudimentary credit plan.
- Action: in your personal finance journal, list every credit card and emergency number to report fraud; make sure you provide name of bank associated with a particular credit care
Don't carry debt on your credit cards. If you start to have trouble paying your monthly bill, let your parents, grandparents know.
Grandparents have a much friendlier interest rate, i.e. zero percent (0%).
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