This resource provides a listening guide, presentation and student assignment on the topic of "Buy Now, Pay Later", which has become a very popular way to finance everyday purchases. Students are challenged to identify the rise of BNPL programs and how they can "hurt" your credit score and lead to irresponsible borrowing in the future.  

Buy Now, Pay Later (BNPL) services have rapidly transformed the way many consumers approach online shopping, offering an alternative to traditional credit cards by allowing immediate purchases with deferred payments. These services have gained popularity for their ease of use and the perception of increased affordability, especially among younger consumers. However, it's crucial to understand the financial implications of BNPL, including the risks of overspending, debt accumulation, and potential impacts on credit health, to make informed and responsible financial decisions. 

This is an online lesson with built in quizzes, videos and explanations. Students can use this to supplement the learnng happening in the classroom on the credit card unit. Topics covered include: How do credit cards work?When should you use a credit card?Credit Card TerminologyWhat are some factors to consider when choosing a credit card?What are the costs of using a credit card?What are credit scores and how can you build your credit score?There is also a mini case activity included at the end with questions and feedback for the student.

Coffee roaster and entrepreneur Paul Foster shares his earliest childhood memories about money and an early job at the bank seeing how customers manage their debt. These experiences shaped his financial future. Students will review three different video segments on being an entrepreneur, advice on debt and long term impact of loans, especially when you are self-employed. The activities include multiple choice, vocabulary, short answer and open ended questions giving the students an opportunity to review advice on being an entrepreneur, managing your debt and how this will benefit your future.Chapter 1 Childhood memories about money and being an entrepreneur video: https://www.youtube.com/watch?v=trBgl4tH6vU  Chapter 2 Dealing with debt video: https://www.youtube.com/watch?v=b22pGQFMQpM   Chapter 3 Paying off student loans video: https://www.youtube.com/watch?v=syoXqBo9IFA

Financial Literacy in the Classroom Lessons and Resources: Home Ownership: This is an online lesson with built in quizzes, videos and explanations. There is also a mini case at the end of the lesson. Students can use this to supplement the learnng happening in the classroom on the credit card unit. Questions to considerWhat factors should you consider when house shopping? Location, condition of home What can you afford and down payment requirements (GDS, TDS), credit scoreWhat are some key terms related to mortgages? How are mortgage payments calculated? What are closing costs? 

In the game Credit Clash, the player/student decides how many credit prodcuts they will take out (credit cards, student loans, auto loans, mortgages), when they were "ready" for the loan and if they were able to pay the loans. The debt may even go to "collections" during the game if the player isn't careful and responsible with their payment and borrowing. 

In Shady Sam, the player/student plays the role of the lender, and the objective is to make as much money from unsuspecting customers as possible (hence the name.) It is a great review of all the loan terms and how they impact the total amount paid by the borrower/earned by the lender (loan sharks). Play here: https://shadysam.com/

This resource provides articles, videos and discussion questions on the topic of debt and the idea of "responsible borrowing". This is a problem with Canada having the highest household debt level among G7 countries. While it’s clearly normal to have debt, it’s also natural to wonder how your financial situation compares to others. Let’s explore the average debt levels of Canadians, learn about how credit card companies make record profits off of this debt and provide students with tips on what to do if their debt is higher than average. The goal of this lesson is to teach responsibly borrowing so that our students do not get themselves into debt "quick sand" in the future.