This unit is intended to remind learners of the ways in which money can be utilized: Spend, Save, Invest, and Donate and help them come to a better understanding of the importance of sound financial planning; to be careful consumers of credit and avoid unnecessary ‘short falls,’ huge debt, and bad credit ratings. The learners will be exposed to the world of credit and credit cards and provided with real and practical applications of installment credit and credit card purchasing. Having acquired these understandings, the learners will provide a service to their peers by sharing their knowledge of credit and credit cards.

The learners will:

• identify ways that people use money.
• distinguish between wants and needs.
• make comparisons between how others use their money and how he/she uses money.
• explore the importance of a establishing a personal financial plan.
• understand the terms goods and services, and how they relate to wants and needs, and budgeting for the four uses of money: spend, save, invest, and donate.
• increase knowledge of credit and credit card usage.
• identify the pros and cons/uses and abuses of credit and credit cards, and apply to personal use of money.
• calculate safe debt load; the 20/10 rule.
• access their credit rating.
• calculate interest on installment loans.
• calculate monthly payments on installment loans.
• evaluate alternative financing options and make positive decisions.
• decipher the language in credit card offers.
• make an informed decision after comparing credit card offers.
• locate relevant information from a credit card statement.
• synthesize their learning into a "using credit responsibly" advertisement.