Introduction

Anyone can create personal wealth. There are multitudes of books on becoming wealthy, including such titles as Rich Dad, Poor Dad; The Millionaire Next Door; or any of the Suzie Orman's books. The wisdom shared by these books includes budgeting, investing, paying off debt, and saving.

In this lesson, we will discuss how wealth is acquired and how credit and debt affect wealth.

 

Lesson Objectives

Following successful completion of this lesson, students will be able to...

  • Identify ways to avoid or correct credit problems

Enduring Understandings

  • It is imperative to wisely manage your use of credit in today's economy.

The above objectives correspond with the Alabama Course of Study: Personal Finance standards: 10