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Money Management

Friday, March 20

30 minutes

The Difference between Credit Cards and Debit Cards

Materials: Venn diagram and Scenario Sheet

2 minutes: Introduction

- I know you just finished a lesson on credit cards. Lets start by brainstorming the 3 or 4

most important things you are always going to remember about credit cards! Thinkabout it for a minute, the one thing you will remember then we can talk about it as a

class.

-Give students think time.

3 minutes: The most important things

-Question students as to what they think was their most important thing to remember

about credit cards. WHY???

-Hand out worksheets

5 minutes: Partner Work

Have students work with an elbow partner and talk about what they think are the

similarities and differences between credit cards. Students should start to fill in the

Venn Diagram. Walk around and observe students talking. What are they saying? What

do I need to scaffold.

5 minutes: Lecture

-Tell students what the most important differences are to debit and credit cards. Have

them continue to fill in the diagrams with these points. They are able to keep these to

reference for the next activity.

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Scenarios: Give each pair or trio a scenario. Have them discuss how their situation

would affect if they use a credit card or debit card on different purchases. Walk around

to students and engage them in discussion. Why is would you use a debit card here and

not a credit card? Does the amount of the purchase make a difference? How and why?

2 minutes: Model

-Model the first situation using I statements. Pick a scenario and explain why I choose

debit or credit cards.

2 minutes: We do

-Have the students talk to you about if their scenario was different why they may choose

to use a debit or credit card. What other reasons may they have?

10 minutes: Collaborative Learning

-Let students talk in their pairs about the different scenarios and what they would

choose to do and why!

3 minutes: Whole group

-What did you learn? What difference would it have made if you had a different

scenario?

Exit Slip: If time

-What is the biggest difference you will remember between debit and credit cards? Why?

What would you use a debit or a credit card??? Why???

Look at each situation individually, not combined!

1. Buying weekly groceries at Hy-Vee?

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2. Ordering a new shirt from the internet from American Eagle?

3. Getting a tank of gas at Kum and Go?

4. Downloading a song on itunes?

5. Buying Dr. Dre Beats?

6. Purchasing a gallon of ice cream?

7. Ordering a gift for a friend from Amazon?

8. Getting a new poster for your bedroom at target?

Scenario 1:

You have 1 debit card , 1 Visa credit card, and one America Express credit card . Your

credit limit is $8,000 combined and you have $324.98 in your debit account and you get

paid next week.

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Scenario 2:

You have 1 debit card with $25.89 in your account. You have a Kum and Go credit card.

You have a Visa credit card.

Scenario 3:

You have 1 debit card with $2345 in your account. You have 1 American Express Card.

Scenario 4:

You have 1 debit card with $89.88 in your account. You have 1 Hy-Vee credit card with$2,000 left of credit and one Visa credit card with $3190 of credit.

Scenario 5:

You have 1 debit card with $293,052.90 in your account. You have 1 American Express

and 2 Visa credit cards.

Scenario 6:

You have one debit card with $2.19 in your account. You have 1 Master Card.

Scenario 7:

You have 1 debit card and you have no idea how much is on the card, but you think it isaround $200. You have a 1 Visa card.

Scenario 8:

You have 1 debit card and you have no idea how much is on the card, but you think it is

around $20. You have a 1 Visa card.

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Scenario 9:

You have 1 debit card and you have no idea how much is on the card. You have a 1 Visa

card.

Scenario 10:

You have a debit card with $120. 34 and get paid next week. You have 1 Master Card.

Scenario 11:

You have 1 debit card with $36.78 in your account. You have 1 Hy-Vee credit card with$200 left of credit and one Visa credit card with $5,190 of credit.

Scenario 12:

You have 1 debit card with $189.88 in your account. You have one Visa credit card with

$3190 of credit.

Scenario 13:

You have 1 debit card with $22.80 in your account. You have 1 Kum and Go card with

$2,000 left of credit and one Visa credit card with $3190 of credit.

Scenario 14:

You have 1 debit card with $39.88 in your account. You have 1 Amazon credit card with

$1,000 left of credit and one Visa credit card with $990 of credit.