Financial Literacy 10 (2026 FINAL)
FL10.9
Investigate credit options and the importance of responsible borrowing.
Indicators for this outcome
| (a) | Identify ways for a person to access credit for the first time and build a credit score. |
| (b) | Discuss credit scores and how they can impact future financial activities. |
| (c) | Explain the difference between good debt and bad debt and why individuals need to respect debt. |
| (d) | Differentiate between credit and debt. |
| (e) | Compare various options for purchasing items with payment plans (e.g., Buy Now Pay Later [BNPL], rent to own) and without payment plans (i.e., cash price). |
| (f) |
Compare different types of credit, including installment credit (e.g., car loans, student loans) and revolving credit (e.g., credit cards, lines of credit), focusing on:
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| (g) | Discuss the concept of net worth and its importance when borrowing. |
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