

CREDIT
Presentation
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
Joel Simonds
Used 184+ times
FREE Resource
8 Slides • 2 Questions
1
CREDIT

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BUILD GOOD CREDIT- WHY?
proves you are "trustworthy"
borrow money- pay it back- prove yourself
good credit score leads to better "terms" down the road
3
BETTER CREDIT "TERMS"
Good credit history lets lenders know you're serious
better (lower) interest rates on loans/credit cards
fewer requirements (ie: down payments)
4
BUILD BETTER CREDIT- HOW?
Pay your bills
ON-TIME, EVERY TIME
Borrow money, pay it back
5
Multiple Select
Why should you worry about having "good credit?"
better credit terms
something you can brag about
it's the adult thing to do
bad credit is very expensive to live with
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HOW DO YOU KNOW WHAT A GOOD SCORE IS?
Higher the score, the better
It takes time- remember, it's about building "trust"
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HOW DO YOU END UP WITH A BAD SCORE?
Don't pay your bills
make late payments
have too much debt compared to your income level (Debt - Income ratio)
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WHAT IS DEBT TO INCOME (DTI) RATION
Compares monthly debt payments to your income level
If debt payments are too high compared to your income- DTI is too high..
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Multiple Select
What are two ways your credit-worthiness is calculate?
credit rating
DTI (Debt to income) ration
High School GPA
Number of college acceptances
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HOW TO MAKE LIFE HARD..
Rack up Credit Card debt at a young age
Select a college major that doesn't result in employment
Take on unnecessary student debt
Move out of your parents' house too soon (it may be annoying, but it's cheap!)
Do "adult things" before you're able to handle the consequences
CREDIT

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