Maria R.

Nesbitt

Confessions of a Shopaholic Credit Unit Course: Teen Living Grade Level: 9-10th odel of Curricular !ntegration:
Shared/Integrated

"# #cade$ic Standards:

%eading:
1.1.11.F. Understand the meaning of and apply key vocab lary across the vario s s b!ect areas. 1.1.11. ". #emonstrate after reading nderstanding and interpretation of both fiction and nonfiction te$t% incl ding p blic doc ments. Make% and s pport &ith evidence% assertions abo t te$ts. Make e$tensions to related ideas% topics or information. 1.1.11.'. #emonstrate fl ency and comprehension in reading. Read familiar materials alo d &ith acc racy. Self(correct mistakes. Use appropriate rhythm% flo&% meter and pron nciation. 1.).11.F. Read and respond to nonfiction and fiction incl ding poetry and drama.

ath:
*.1.+.,. Represent and se n mbers in e- ivalent forms .e.g.% integers% fractions% decimals% percents% e$ponents% scientific notation% s- are roots/. *.*.11.,. #evelop and se comp tation concepts% operations and proced res &ith real n mbers in problem(solving sit ations. *.0.+. ,. Invent% select% se and ! stify the appropriate methods% materials and strategies to solve problems.

&a$il' and Consu$er Sciences:

11.1.1.2. 3$plain the responsibilities associated &ith managing personal finances .e.g.% savings% checking% credit% non(cash systems% investments% ins rance/. 11.1.1*.F. 4ompare and contrast the selection of goods and services by applying effective cons mer strategies. 11.*.1.,. Solve dilemmas sing a practical reasoning approach

()*ectives:
5he learner &ill6 2rainstorm good and bad ses of credit.

Read alo d from a selected fictional te$t. ,naly7e and disc ss a fictional character8s se of credit% cons mer strategies% and the decision making process. #isc ss credit statistics. 4ompare and contrast a fictional characters se of credit to the s ggested se of credit. #efine personal finance and credit vocab lary terms. Relate personal finance and credit vocab lary terms to the selected te$t. Use n mbers in decimal and percentage form. Use appropriate mathematical proced res and operations to calc late the total cost of a loan. 4alc late the e- ivalent of 2ritish po nds and U.S. dollars sing an estimated e$change rate.

"rocedures:
1/ 9n the chalk board% brainstorm good and bad ses of credit. */ Using the reading g ide% st dents take t rns reading alo d from :4onfessions of a Shopaholic; (,s they read the e$cerpts% the st dents &ill analy7e and disc ss 2ecky8s bad se of credit% cons mer strategies% and the decision making process. )/ #isc ss :4redit 4ard facts; overhead </ #isc ss :4redit Info; hando t. 4ompare and contrast 2ecky8s se of credit to the s ggested se of credit. 0/ 4omplete and disc ss :Shopaholic =ocab lary; &orksheet. Relate the vocab lary terms to the te$t and to credit and personal finance. >/ 4omplete the :Shopaholic 4redit 4ase St dy; activity. Use the appropriate mathematical proced res and operations to fig re o t the total cost of a loan. 4alc late the e- ivalent of 2ritish po nds and U.S. dollars by sing an estimated e$change rate.

aterials:
:4onfessions of a Shopaholic; novel .1 per st dent/ :4onfessions of a Shopaholic; Reading " ide .1 per st dent/ :4redit 4ard Facts; overhead :4redit Info; hando t .1 per st dent/ :Shopaholic =ocab lary; &orksheet .1 per st dent/ #ictionaries .1 per st dent/ :Shopaholic 4redit 4ase St dy; &orksheet .1 per st dent/ 4alc lators .1 per st dent/ ,ll st dents &ill participate in brainstorm session. ,ll st dents &ill read alo d from :4onfessions of a Shopaholic; and &ill participate in analysis of character8s se of credit and decision making.

+,pected Level of #chieve$ent:

,ll st dents &ill participate in disc ssion of :4redit 4ard facts; overhead. ,ll st dents &ill participate in comparing 2ecky8s se of credit to the s ggested se of credit. ,ll st dents &ill complete the :Shopaholic =ocab lary; &orksheet &ith at least +?@ acc racy. ,ll st dents &ill complete the :Shopaholic 4redit 4ase St dy; &orksheet and come p &ith the correct n mbers. St dents &ill be e$pected to re( fig re their &ork ntil they have the correct ans&ers.

Confessions of a Shopaholic
Reading " ide
Intro6

(2ecky 2loom&ood has a shopping problem. 4annot afford all the p rchases she makes. 2 ys them &ith credit ( Ironically she is a financial !o rnalist for :S ccessf l Saving; a financial maga7ine. (She reali7es that she has gotten into some financial tro ble% and is no& trying to get o t of debt. Aet8s see ho& her attempts to be spend money &isely &ork o t for her. 1/ Read letters from :9ctagon; credit card on Bgs. -.--/. */ Read her attempt to try to spend money &isely on Bgs. -0--1 )/ ,fter &ork on the same dayC Bgs. 21-23 </ Aetters from :9ctagon; credit card D 3nd&ich 2ank( .She keeps overdra&ing her checking acco nt/( Bgs. 2- 4 22. 5his section is later in the book. ,ll of 2ecky8s e$cessive spending finally ca ses everything to fall apart. 0/ Aetters from 2ank of Aondon D 3nd&ich 2ank( 2ecky has contin ed to dodge her bank &here she contin es to overdra& f ndsC Aetters Bg. ./1 4 ./. E 2ecky8s roommate set her p on a date &ith a friend of hers .one of the richest men in Aondon/. 9n the date% &hile he &as in the bathroom% he left his checkbook sitting on the table. Fhen he came back to the table% he fo nd her snooping thro gh his checkbook to see &here he spends his money. 5he date obvio sly did not end &ell and 2ecky &as very pset and embarrassed. Fhat do yo think she does to make herself feel better &hen she is psetG "oes shoppingH Aet8s see ho& that &orks o t for her in her c rrent state of debt. >/ Read Bgs. ./3-.00

Credit Card facts

1?@ of North ,merican teenagers se their parents8 credit cards.

9.5 of college students have a credit card )' their sopho$ore 'ear6 1 out of ever' 3 college students o7es )et7een 8/9000 and 829000 in credit card de)t #l$ost half :025; of all college students carr' 0 or $ore credit cards6

4redit Info
5o establish a credit history% yo sho ld6

1. #on8t overdraft checks *. Bay bills promptly

). 9btain a bank credit card .=isa/Mastercard/ and pay it off <. 9btain a retail credit card .#epartment store card/ and pay it off. 0. ,t college% pay tility bills and rent on time. 5o provide creditors &ith yo r bill paying/credit record
5he f nction of a credit b rea is6 Fhat are some of the cons mer protection la&s ill strated in the :5o Io r 4redit videoG

1. Io are entitled to information from the credit b rea . Io r credit history/ *. 4reditors may not ask yo r marital stat s% age% gender% race% etc. ). Aenders m st provide the ,BR% total cost of the loan% J of payments D monthly payment amo nts .Sch mer 2o$/
Fhat is the f nction of a credit co nseling serviceG

'elp people get o t of debt. 5each them abo t money management.

Name6 KKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKKK Beriod6 KKKKKKK

Shopaholic <oca)ular'
#irections6 #efine the follo&ing vocab lary terms as they relate to the te$t and to personal finance and credit6

minim m payment .pg. >*/6 fr gality .pg. ></6 profit .pg. >0/6 advantage points .pg. >L/6 e$pendit re .pg. L1/6 itemi7e .pg. L)/6 nsec red loan .pg. *)1/6 debt .pg. *)>/6 debit card .pg. *)+/6 =IS, card .pg. *)+/6 .aka bank credit card/ 9ctagon charge card .pg. *)1/6 .aka retail credit card/ fro7en acco nt .pg. *<?/6

Name: _____________________________________________________ Period: _______

Shopaholic Credit Case Study

Becky Bloomwood is at it again! She went on a shopping spree at her favorite shop: Octagon. The p rchases totaled 370.56. She sed her Octagon credit card to pay for her p rchase. The !nn al Percentage "ate #!P"$ on the credit card is 17%. %ach month she will pay 45 towards her credit card &ill. 'alc late the n m&er of months( the total cost of the loan and the total finance charge for the loan.

Original cost of Becky)s shopping spree: ______________________ Monthly interest rate #show work * ro nd to + decimal places$: _________________ N m&er of months to pay &ack the loan: ___________________ Total cost of the loan #original p rchases , interest$: _________________________ Total interest paid for the loan: ________________________ Show all work!

Now se the estimated e-change rate to calc late: #%-change rate may change$ .$ /ow m ch she originally spent at Octagon in 0.S. dollars. +$ Total cost of the loan in 0.S. dollars. 1$ Total interest paid for the loan in 0.S. dollars. 1 = US $ 1.66