Learning Targets:
Targets for knowledge, skills, and behaviours below are possible targets. It is not expected that all will be covered by a single Teaching Unit. Teachers can select their learning targets using the Teaching Units provided (to the right), adaptations of these Teaching Units, or Units/Lesson Plans they develop on their own.
KNOW:
- Factors affecting how much you can borrow
- Factors affecting the cost of borrowing
- Advantages and disadvantages of credit cards
- Credit rating – what it is
- Factors that will affect one’s credit rating
- How a mortgage works and factors affecting the cost
- Signs a person may be heading for debt trouble
- What payday loans are, and the costs they entail
BE ABLE TO:
- Set reasonable, affordable limits on debt
- Make informed decisions regarding use of debt
- Check and maintain a good credit rating
- Estimate the mortgage a person can afford
- Take appropriate action if debt trouble should arise
- Apply for a loan and/or credit card
- Keep the costs of credit as low as possible
ACTION/BEHAVIOUR:
- Pick a credit card most suited to their needs
- Avoid paying higher costs to borrow than is reasonable/warranted
- Review contracts and legal documents carefully
- Assume debts that are affordable
- Maintain a good credit rating
- Avoid debt problems
- Accept responsibility for how much is borrowed since others may be willing to lend more than can reasonably be afforded
