Embed Size (px)
Citation preview
Credit College:Credit College:A Credit Card Game
Presented by:
F. Neal Smith
Western Region 4-H Specialist
Credit CollegeCredit College
Credit card misuse is a common problem in today’s society.
One in seven teens between ages of 12-17 has his or her own credit card.
People prone to erratic spending tend to not use credit cards wisely.
Credit College prepares youth to make wise decisions when there is a need to use credit for purchases.
Sources include “Money Smart”, “An Asset Builders Guide to Youth and Money” and “On My Own” curriculums.
Credit CollegeCredit College
Introduces youth to different types of credit cards
Automatic Teller Machine (ATM)
Debit Card
Charge Card
Credit Card
How Credit Cards Work
Your signed credit card slip Charge Amount $40
Sally Spendthrift
You
Credit Card Issuer
MerchantYou pay credit card company
How Credit Cards Work
Other items discussed include:
Carrying a Balance
Interest Charges
Glossary or “Terms You Should Know”
Avoiding Credit Pitfalls
Playing the Game
Recommended that game be played with four Players and one CashierEach Player selects three “Situation” cards
CareerHousingTransportation
Students complete a “Player Worksheet” by deducting Housing and Transportation Expenses from their Net SalaryCashier pays Players their “net balance” from the worksheetEach Player receives a “Credit Card” with a $500 limit and begins the game with a $100 balance
Player Worksheet Example:
Playing the Game
Players begin at “Start” block and roll die to advance.
Each color block represents a card that Player must draw.
Player reads card aloud and follows instructions.
Cards include:
Surprises
Expenses
Oh No!
Credit Savvy
Credit Pitfalls
Surprises
Each Surprise card has a positive, unexpected, monetary situation that Player collects from Cashier.
Surprise cards include such things as:
“You found a watch and received $20 reward for returning it.”
“Your Uncle sent you $50 for your birthday.”
“You fixed your neighbor’s faucet and he paid you $30.”
Expenses
Aside from monthly car and house payments, Players also experience other monthly Expenses.
Expense cards include such things as:
“Your car is getting low on gas. Pay Cashier $25.”
“Your school loan is due. Pay Cashier $80.”
“Pay $25 to get your clothes out of the cleaners.”
“Need groceries! Pay Cashier $50.”
Oh No!
Players will also experience those little “unexpected” things with the Oh No! cards.
Oh No! cards include such things as:
“Go to the dentist for a new filling, and pay $50.”
“Its your best friend’s birthday and you spend $50 on a gift.”
“Your truck needs new tires. Pay $250 to Cashier.”
Credit Savvy
Credit Savvy cards reward Players for using credit wisely.
Examples of Credit Savvy cards include:
“You deducted the amount of your credit card purchase from your checking account. Collect $50.”
“You paid your credit card balance in full and saved $25 in service charges.”
“You shopped around for a lower interest rate, going from 21.5% to 9.9%. Collect $100.”
Credit Pitfalls
Credit Pitfalls allow youth the opportunity to experience the negatives of using credit unwisely.
Examples of Credit Pitfalls include:
“Your borrowed from one credit card to pay off another. Pay the Cashier $200.”
“You did not pay your credit card bill on time. Pay $35 late charge.”
“You selected a credit card with an annual fee. Pay $75 to Cashier.”
Special Blocks
Cost of Living Scale – Each time a Player lands on or passes this block, they must pay the amount listed based on the money they have on hand.
Make Credit Card Payment – If the Player has a balance, they can chose to pay it in full or make the minimum payment.
Credit College
When a Player is unable to pay their bills, they must go directly to Credit College
Each Credit College card has a question about the use of credit that the Player must answer
If the Player answers the question correctly, a monetary award is given to Player to help pay his bills
The Player must remain in Credit College until he has enough money to get out of debt
Winning the Game
Each passing of “Start” symbolizes a month
The Player receives a “paycheck” (net pay) each time they pass “Start”
Once each player has passed “Start” four times or three complete cycles of the board, the game is completed
Each player must then pay all debts possible to the Cashier
The winner is the Player with the most cash, and least amount of debt
Credit CollegeCredit College
For more information on this or other 4-H Educational Materials, please contact:
F. Neal Smith
Western Region 4-H Specialist
605 Airways Blvd
Jackson, TN 38301
(731) 425-4715
Email: [email protected]
