Video title: How to Build Credit as a College Student
Topic(s): Credit cards, credit score
Search terms: video how to build credit as a college student
Time (of video): 3:46
Posted by: Young Finances
Date posted: August 5, 2014
Video description: Tips on how to build your credit while in college.
Question/writing prompt: Why, according to the video, do you need to build your credit while in college?
1. Terms and Conditions Objective: Students learn about the complexity of having a credit card.
Building credit is good, but, when misused, credit cards can get students into financial trouble.
- Bring in a set of terms and conditions from a credit card application to share with students in class.
- See how much students truly understand about this complex information.
2. Practice with Interest Rates Objective: Students calculate payoff and interest accumulation on credit cards.
Give students sample figures to work with: a balance, minimum payment, and interest rate.
- Have students do sample calculations:
- Accumulated interest each month.
- Length of time to pay off balance with a minimum payment.
- Students calculate payoff and interest accumulation on credit cards.
3. Savings Accounts Objective: Students appreciate the value of delaying purchases.
Discuss the benefits of saving over time versus paying for a specific item with a credit card.