Financial Literacy

TM 3.1 and TM 3.3
  • -Interest is an important financial concept. It can help you or hurt you depending on how it is applied.
  • Interest is working for you when it accelerates the growth of money in interest-bearing accounts and investments.
  • It is working against you when you borrow money or pay for items over time.
  • The interest you will pay on a typical home morgage will probably exceed the original amount of money borrowed to buy the home.
  • Like simpelest interest, compound interest is a way of computing the interest on money loaned or borrowed.
  • a compound consists of two or more components and to calculate compound interest.
TM 8.4

  •  A credit card is an essential part of the average person's life.
  • You must have a credit card to purchase something on the Internet.
  •  The interest rate for credit cards is significantly higher than the interest rate for regular bank loans because credit card debt is not secured by any of your assets.
 TM 8.5
  • Most people still do not understand just how big a problem it is or actually believe it can happen to them.
  • It can happen to you if you do not understand what it is.
  • The Federal Trade Commission was the first to report instances of identity theft in the mid 1990's.
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