Savings & Credit Cards
- 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”
- 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.
Video: How Does Saving Account Interest Work?
Click on this link to a student module titled Borrowing - Use, Don't Abuse in order to understand the concept of borrowing.
Video: Saving and Borrowing
Video: Debit & Credit: 2 Very Different Cards
Visit the lesson titled The Costs of Credit on the EconEdLink website. Follow your teacher's instructions for completing this activity.