Monday-Tuesday
Topics: Debt vs. Wealth Building
Activities: Students to watch video 2.6 and mark fill-ins on notes then answer the journal question. Discussion question: 1. What is your largest wealth-building tool? 2. List the steps to get out of debt. Refer to sidebar on p. 89 about serious consequences of not repaying debt. Read and discuss. Refer to article “What about credit card rewards?” on p. 88 in textbook. Read and discuss. 3. What is the debt snowball? How does it work? Activity: The Debt Snowball.
Wednesday-
Topics: The Credit Score
Activities: Students to watch video 3.1 and fill in notes and journal questions. Discussion Questions: 1. What does FICO stand for? Refer to chart on p. 90 (5 components) 2. What are the 5 components of the FICO score? 3. Can you really live without a credit score? Activity: Students to get online and answer the following questions on their own: 1. Explain what the 5 components of the FICO score mean (Describe) 2. Range of possible FICO scores 3. Levels marking bad credit, good credit, etc. 4. How is manual underwriting an alternative to having to obtain a mortgage with a FICO score?
Thursday–Friday
Topics: Credit Bureaus and Identity Theft
Activities: Students to watch video 4.1 and fill in notes and journal question. Discussion Questions: 1. What is a credit bureau? 2. Typical client of credit bureaus? 3. How longs does info stay on your credit report? 4. What are the three main credit bureaus? 5. How often should you check your credit report for errors? 6. What issues was the Fair credit Reporting Act intended to address? 7. Discuss the Fair debt collection practices act. Identity Theft: 1. Fastest growing white-collar crime in N. America? 2. What are some warning signs that you may have had your identity stolen? 3. What should you do if you think your are a victim? 4. Topics to protect yourself from identity theft? 5. What should a strong password include? Students are to then get onto Foundationsu.com and select and listen to an Ask Dave radio call. Will need to summarize caller’s situation, including financial information needed to make a decision, followed by the advice that Dave gave the caller. Turn in for a daily grade.