Title: Identify factors that contribute to establishing and maintaining a good credit rating.
Course: Life Planning (19257-18) > Section: Developing a Plan for Financial Sustainability

Identification should include

- attitudes, values, and goals regarding the use of credit
- recommendations regarding the wise use of credit
- comparison of consumer credit options (e.g., loans, credit cards, payday loans, buy-now-pay-later services)
- consequences of credit misuse
- actions necessary to reduce risk of identity theft
- methods for maintaining a good credit rating and/or repairing bad credit rating.

Process/Skill Questions:

Thinking

- Can people in today’s economy function without the use of credit? Why or why not?
- What are the risks and rewards of using credit to finance major purchases?
- What factors should be considered before applying for credit?
- Why is it important to have a good credit rating?
- Who checks credit scores?
- How might credit affect securing a job?

Communication

- What are the benefits of a good credit rating? Consequences of a poor credit rating?
- What communication skills are needed to understand the terms of credit?

Leadership

- How important is credit to your life-management plan?
- How can using consumer credit be an advantage for one person but a disadvantage for another person?
- What is the government's role in protecting citizens who have overused credit?

Management

- What skills can you use to manage credit wisely?
- What steps can be taken to improve your credit rating?