Lesson
Credit Card Basics
Summary
A credit card isn't free money. It's a high-interest loan with a grace period attached. This lesson unpacks how credit cards actually work, why APR matters, and kicks off the Advanced Budgeting simulation.
Bellringer: The Grace Period
- Pose scenario: $100 dinner charged on the 1st, paid in full on the 10th—does the bank charge interest?
- Collect votes, then reveal the grace period explanation.
Instruction
- Walk slides on debit vs. credit, credit limit, APR, minimum payments, statements, and fees.
- Use the $90 vs. $300 payoff comparison to drive home minimum payment math.
Discussion: Should There Be a Limit?
- Split the room: Team Cap Them vs. Team Free Market on capping credit card fees.
- Give each side 2-3 minutes to prep using the Truth in Lending fee list, then debate live.
- Close by asking whether any single fee deserves a cap and another doesn't.
Activity: Advanced Budgeting Pretest & Launch
- Students complete the Advanced Budgeting pretest.
- Launch the Advanced Budgeting simulation.
Wrap-Up & Assessment
- If you don't pay your full balance by the due date, does the bank charge you interest once a month or every single day?
- What is the name of the period where you can use the bank's money without being charged interest?
| Est. Time | Activity | Description |
|---|---|---|
| 5 min | Bellringer: The Grace Period |
|
| 10 min | Instruction |
|
| 5 min | Discussion: Should There Be a Limit? |
|
| 25 min | Activity: Advanced Budgeting Pretest & Launch |
|
| 5 min | Wrap-Up & Assessment |
|
Lesson Prep
Advanced Budgeting Pretest
Assess student knowledge before beginning the Advanced Budgeting game.
Advanced Budgeting
Students continue playing the Advanced Budgeting game.
Class Presentation
Includes a 24-slide deck with teacher notes. Present from Banzai, download a PDF, or copy it to Google Slides.
Presentations, Ready to Go
- Built-in PresentationPresent full screen, straight from Banzai
- Copy to Google SlidesMake an editable copy for your class
- Download or PrintSave as a PDF or print
- Teacher NotesSlide-by-slide guidance, printable as one handout
Unit 6: Credit & Debt Fundamentals
Credit Reports
Before there's a score, there's a report. This lesson outlines what a credit report is, where it comes from, how to read it, and how to fix it.
Credit Card Basics
A credit card isn't free money. It's a high-interest loan with a grace period attached. This lesson unpacks how credit cards actually work, why APR matters, and kicks off the Advanced Budgeting simulation.
Debt Repayment
Predatory loans can sink a budget faster than any credit card, and escaping them requires the right strategy. This lesson exposes the mechanics of debt traps and equips students with the snowball and avalanche methods to climb out.
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