5.12: Savings and Credit Cards

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Savings & Credit Cards

Universal Generalizations

Savers help to make funds available to borrowers.
Saving today can make future purchases possible.
There are several forms of “money” that are accepted in exchange for goods and services.
There is “good debt” and “bad debt”

Guiding Questions

How can you develop the habit of saving?
What is the difference between saving and investing?
What is the concept of compounding savings?

Savings and Investment

Read the following article from Business Insider titled 8 Ways to Make Your Money Work for You to learn some personal finance strategies for saving money.

Also read the article How to Save Money as a Teen for more savings advice.