Advantages & Disadvantages of Various Payment Methods
T.i.P.S.
Students should be able to identify the advantages and disadvantages of different payment methods including debit cards, credit loans, gift cards, online payments, and payday loans. Students should be able to explain the advantages and disadvantages of each of these payment methods in order to determine the best option to use in different real-life experiences.
Example
Carly wanted to buy a new outfit for the 8th grade dance. She decides to use a gift card she got for her birthday. Did Carly make a good decision, why or why not?
Digital Tools
Click on the following links for interactive games.Resources
Click on the following links for more information.
Federal Reserve System’s Resources for Educators
Teacher Online Resource Center
Money Smart Train-the-Trainer Videos
TEKS
8.12 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) identify and explain the advantages and disadvantages of different payment methods
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