It’s so predictable. Whenever we are planning for a high school workshop, we will survey the students and/or the teachers to find out what topics they want to learn more about. Almost never do we see the words “credit scores” on that list. As the old saw goes, “teens don’t often know what they don’t know” and I would put credit scores firmly in that category of “not knowing” for them. Yet, we all know the importance of them getting off to a good start in this area.

A recent survey by NerdWallet finds widespread ignorance on the cost of a low credit score among adults. Before putting up this infographic, ask your students to list what the impact of having a low credit score is beyond the high interest on loans (if they can even borrow). Here’s an infographic that shows the common misconceptions:

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We have two activities that will bring credit scores to life for your students.

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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