note: vocabulary for this unit can be found in the ngpe personal finance dictionary\nintro\nprompt\nuse the…
note: vocabulary for this unit can be found in the ngpe personal finance dictionary\nintro\nprompt\nuse the space below to answer the prompt.\n1. do you think its a good idea for high school students to have a credit card? what about college students? adults? explain why you feel this way...\nlearn it\nvideo: comparing cards\nbefore you decide whether you should open a credit card, you need to understand how it differs from a debit or prepaid debit card.\n1. watch this video and use this 3 - column chart to record important details about each type of card.
Answer
Brief Explanations:
For high - school students, it may not be a good idea as they often lack financial maturity and may overspend, leading to debt. College students can benefit if they use it responsibly to build credit history, but also face risks of overspending. Adults can use credit cards as a financial tool for convenience, rewards, and building credit, provided they manage payments well. Regarding the video task, watching it will help in understanding differences between credit, debit, and prepaid debit cards and filling the chart with details like how they are funded, credit limits (for credit cards), and security features.
Answer:
- For high - school students: Not a good idea due to lack of financial maturity and overspending risk. For college students: Can be beneficial for credit - building if used responsibly but risky. For adults: Can be a useful financial tool if managed well.
- Watch the video "Comparing Cards" and fill the 3 - column chart with details about credit, debit, and prepaid debit cards such as funding source, credit limits (for credit cards), and security features.