Personal Finance Essentials: Financial Literacy for Young Earners - Credit, Borrowing, and Debt

Grades 7-12.

Loaded with savvy tips and real-life scenarios, these comprehensive programs prepare students to become responsible managers of their personal finances. Recognizing that students may have hazy notions about the consequences of over-spending, this program provides practical information about credit card use, credit reports, credit problems, and managing debt. Viewers learn how to build a credit history and raise a low credit score - and why this is important. Taking a look at a sample credit card statement, the program explains various fees, charges, and rates, and cautions against relying on cash advances. Mortgages, home equity loans, and the more costly alternative loans are covered as well. The program closes with strategies for getting and staying out of debt. Highlights include applying for a car loan, a checklist of warning signs of financial irresponsibility, and ways to fix credit problems. 37 minutes. Copyright 2011.