Debt Video 25 minutes Debt is product not
Debt
Video 25 minutes Debt is product, not privilege
Is Debt Really Dumb? • Americans are being sold on the fact that credit makes you someone, sets you apart from others, when in all actuality Credit is a product like any other, a very expensive product. • Debunking the Credit Myth • Loaning and co-signing are ways to help friends and relatives when it comes to money? • Car Payments are a way of life? • Leasing your car is what sophisticated people do to purchase a car? • 30 year mortgages are better than 15 year mortgages because they are less expensive?
Credit Myths? • You need a credit card to rent a car or make a purchase on-line? • Debt is a tool and should be used to create prosperity? • Discuss the difficult truth about lending to loved ones, what co-signing really is, and who the lottery truly effects. • Can You live Without Credit or a Credit Score? • How would you… • Rent and apartment, take out a mortgage, buy a car?
The Credit Score • What does your credit score really measure? • FICO • Measures Debt History, Debt Levels, Duration of Debt, Type of Debt, and New Debt • Credit Bureaus and Identity Theft • What do they do and who do they serve? • Consumer Credit Laws and how to protect your identity. • Identity theft one of the fastest growing crimes in America. How do you avoid it happening to you.
A Debtor Nation? • 70% of Americans are living paycheck to paycheck. We know this, but why? • America as a nation (government) has more than $18 trillion dollar deficit, which is the highest in the world. • http: //www. usdebtclock. org/ • The American public has over • $11. 63 trillion in debt • An increase of 3. 8% from last year • $880. 5 billion in credit card debt • $8. 07 trillion in mortgages • $1, 120. 3 billion in student loans • An increase of 11. 5% from last year
Activity Current Event-How is debt effecting America? Have students locate article and expand on it.
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