History of Credit/ Consumerism
What has become the normal way of life for many Americans
Having/ living with debt
What does consumer mean
A person or organization that uses a product or service
The best way to manage money is to learn how to _____ __.
Manage you
From whom could you get credit from this time (prior to the 1917s)
Loan sharks
What does credit mean
The granting of a loan/ creation of debt (a form deferred payment)
Being smart doesn’t mean being _____.
Cheap
Why was Credit card debt extremely rare prior to the 1917s
Laws preventing it
What does financial literacy mean
The knowledge and skillset necessary to be an informed consumer and manage finances effectively
____ are in charge of your budget.
You
Average Card Debt and Student Loan in America
$15,000 in credit card debt and $30,000 in student loan debt
What does personal finance mean
All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.
You should include ____ in your budget
Fun
Consumer demand + legalization of personal loans = ?
The American Credit Industry
What does economy mean
A system by which goods and services are produced and distributed
Money smarts is a basic understanding of 3 key principle:
1. Basic math
2. Language of money
3. Management of money behavior