Resources aligned with the “Credit and Debt” standard from the National Standards in K-12 Personal Finance Education.
Overall Competency: Develop strategies to control and manage credit and debt.
What is Home Equity? Home equity is based on the fact that even if your home is in your name, you don’t really own 100% of it if you have borrowed money to buy it and are still repaying the mortgage. Home equity is the portion of your home that you truly own. Can …
We’ve talked about credit cards before, but recently I heard about a virtual credit card. What is that? A virtual credit card is a temporary or disposable card number associated with your existing credit card account, and does not come with a physical card. Virtual credit cards are also known as virtual account numbers, …
I recently heard about FHA Loans on TV. But what is an FHA loan anyway? FHA stands for Federal Housing Administration. An FHA loan is a mortgage issued by an FHA-approved lender. These loans are meant for borrowers with low-to-moderate income, and are insured by the FHA. What are the advantages of FHA Loans? …
Introduction to FICO Score / Credit Score for Kids and Teens This video explains the concept of credit score in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about FICO score, or used as a money & personal finance resource by parents and teachers as …
What is a credit report? Credit bureaus like Equifax, Experian, and TransUnion collect information about your financial activity, employment history, etc. from banks, financial institutions and other sources, and create a report which is called a credit report. It is essentially a report card on how you manage your finances. What does a credit …
What Is LIBOR? LIBOR stands for London Interbank Offered Rate. It’s the interest rate at which major banks lend to one another for the short-term in the international market. Why is LIBOR important? LIBOR serves as a well-accepted benchmark interest rate, based on which the interest rates for many other loans are decided. This …
Introduction to Money for Kids and Teens This video explains the concept of money in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about money, or used as a money & personal finance resource by parents and teachers as part of a Financial Literacy course …
Introduction to Net Worth for Kids and Teens This video explains the concept of net worth in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about net worth calculation, or used as a money & personal finance resource by parents and teachers as part of …
Introduction to Finance for Kids and Teens This video explains the concept of finance in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about the world of personal finance, or used as a money & personal finance resource by parents and teachers as part of …