It is important that when learning about personal financial literacy, students begin to see the connection between them all. For example, this standard goes along with establishing a positive credit history. Students need to understand the types of information a credit report gives someone (a creditor or yourself) such as: accounts, delinquent payments, closed accounts, repossessions, bankruptcy, foreclosure, and tax liens. Students also need to understand how long items stay on the credit history (ex. bankruptcy can be 7 or 10 years, depending on the type).
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6.14 Personal financial literacy. The student applies mathematical process standards to develop an economic way of thinking and problem solving useful in one's life as a knowledgeable consumer and investor. The student is expected to:
(E) describe the information in a credit report and how long it is retained