HOW CREDIT CARDS WORK LESSON PLAN
Students should read the lesson, and then complete the
worksheet. As an option, teachers may also use the lesson as part of a classroom lesson plan.
Other Classroom Ideas:
- Use in conjunction with “Cash versus Credit”.
- Create a small store in the classroom. Give the students a certain number of “dollars” to spend in the store. They can have cash, savings/checking, and a credit card. Have them experiment with using the different payment options.
- Before having them do the worksheets, ask them about what they know about credit cards: when to use them, why to use them, how they work, etc. After they do the worksheets, have them reevaluate their opinions.
- Bring in some credit card offers that you’ve received in the mail. Talk about the promises they make and the “small print”. Teach the kids how to be aware of offers that sound too good to be true.
- Make a master list to post in the classroom of times that it’s good or okay to use a credit card and one that shows times that it’s bad to use a credit card.
- Do a math lesson involving interest. Have the students pick one item they’d like to have but don’t have the money for. Have them figure out what the credit card interest would be if it took them one year to pay off the credit card bill.
You’ve probably already seen a credit card. Maybe your parents have one. Maybe your friends’ parents have one. Maybe you’ve just seen them used on television shows or movies.
They seem like the easiest way to buy the things you want and need. However, there is more to credit cards than just pulling a small piece of plastic out of your pocket. People who use credit cards are responsible for paying back the money. But how do “they” know who has to pay back how much money?
Lesson Printable Materials -
Print out the teaching lesson pages and
exercise worksheets for
use with this lesson: