Accounts and Credit

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1. Many consumers use checking accounts and credit, often in the form of credit cards.
   What are some of the advantages and disadvantages of having a checking account?
   What are some of the advantages and disadvantages of having a credit card?
   What are some strategies you could use to manage credit cards to avoid paying high-interest rates and fees?
   How can planning to manage your accounts lead you to be more productive and better equipped to reflect on
   your financial priorities?
   What advice of any type would you give about this?
2. Investments
   Economists talk about saving and investing as two separate steps. After an individual has saved some money,
   it’s time to decide on investments.
   Describe an investment that you or someone else could make. What are the advantages of this investment?
   What are the disadvantages? What information would you look for to help you do a brief financial analysis to
   inform your investment decision?
   What advice of any type would you give about this?
3. Insurance companies willingly take on our risk for a fee. Give an example of a risk that you or someone else
   has chosen to insure.
   How could you use your technology skill and Excel to organize and analyze data and help you decide if a
   specific insurance is a good value for the example you gave? Think about the cost and consequences of not
   having insurance versus the cost of the insurance over time.
   What advice of any type would you give about this?
4. Describe something you can do to increase your savings for retirement. What advice would you give?
5. What skills could you use in economics to run your own business? How would learning about economics
   and personal finance help you run your business successfully?

Sample Solution

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