Showing posts with label Borrowing Money. Show all posts
Showing posts with label Borrowing Money. Show all posts

Sunday, March 7, 2010

The Differences Between Banks and Credit Unions

In the civics course that I teach I try to work in lessons about consumer borrowing and consumer savings. One topic that always comes up in these lessons is the differences between banks and credit unions. Young Free Alberta has a series of three videos, done in the Common Craft style, explaining the differences between credit unions and banks. The videos are clearly designed to encourage students to join credit unions. Despite that bias the videos still do a good job of explaining the fundamental differences between banks and credit unions.

Part 1:


Part 2:


Part 3:


Here are some related items that may be of interest to you:
Kid's Economic Glossary
Saving Money in Plain English
The History of Credit Cards in the United States

Wednesday, February 3, 2010

Consumer Ed Resource - The Risks of Payday Loans

Through a cool blog called Cool Infographics I learned about PayDayLoans.org. The purpose of PayDayLoans.org is to educate people about the risks of taking a payday loan. They try to educate visitors through a combination of articles, infographics, and interactive guides. I knew that payday loans had obscenely high APRs but what I didn't know, and learned from their infographic, is that in many states the APR for payday loans can exceed 1000%. The most accessible and educational resource offered by PayDayLoans.org is their How Payday Loans Work interactive tour.

Applications for Education
If you teach consumer education lessons, PayDayLoans.org is a great resource to add to your collection. As part of a larger lesson on consumer borrowing you could have students compare the risks of payday loans with the risks of credit card debt.

Here are some related items that may be of interest to you:
Saving Money in Plain English
Investing in Plain English

Monday, March 2, 2009

Recession? What Recession?

Today's edition of CNN Student News features a good segment about Fargo, North Dakota. It seems that Fargo isn't feeling the effects of recession at all. This is due in large part to conservative lending and borrowing practices among the banks and consumers of North Dakota. The segment appears about half way through the video embedded below.



Applications for Education
The segment about North Dakota's bankers' conservative lending and borrowing practices provides a nice introduction to lesson about the importance of thoughtful money management.

A couple of other resources about banking that you may want to consider are Common Craft's videos about saving and borrowing money.