Content Inside :
Objectives
Compare and contrast installment and non-installment credit and discuss the costs of credit.
Discuss reasons for and against using credit.
Describe the types of charge accounts.
Objectives
Describe the process of opening a credit account and the procedures lenders use to evaluate credit applicants.
Manage your credit card and charge accounts properly.
What is Consumer Credit?
Receiving products, services or cash now, and paying for them in the future.
Before you use credit, think about…
Could I pay cash or make a down payment?
Do I want to use savings for this purchase?
Does purchase fit with my goals and budget?
What is Consumer Credit?
Does purchase fit with my goals and budget?
Could I use the credit I’ll need another way?
Can I wait to buy it?
What are the opportunity costs of postponing the purchase?
What are the economic & psychological costs of using credit for the purchase?
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