ÿþ<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"> <html> <head> <meta name="keywords" content="money matters for kids, kids, money, education, young adults, financial responsibility, money management for young adults, personal financial planning, financial education, school seminars"> <meta name="description" content="Money Matters for Kids educates and empowers yound edults."> <title>Money Matters for Kids</title> <meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1"> </head> <body leftmargin="0" topmargin="0" marginwidth="0" marginheight="0" link="#336699" alink="#0066CC" vlink="#0066CC"> <table width="762" border="0" align="center" cellpadding="0" cellspacing="0"> <tr> <td width="31"> <img src="images/images/school_money_01.jpg" width="31" height="44"> </td> <td width="135"> <img src="images/images/school_money_02.jpg" width="135" height="44"> </td> <td width="104"> <img src="images/images/school_money_03.jpg" width="104" height="44"> </td> <td width="140"> <img src="images/images/school_money_04.jpg" width="140" height="44"> </td> <td width="123"> <img src="images/images/school_money_05.jpg" width="123" height="44"> </td> <td width="63"> <img src="images/images/school_money_06.jpg" width="63" height="44"> </td> <td width="166"> <img src="images/images/school_money_07.jpg" width="166" height="44"> </td> </tr> <tr> <td> <img src="images/images/school_money_08.jpg" width="31" height="48"> </td> <td> <img src="images/images/school_money_09.jpg" width="135" height="48"> </td> <td> <img src="images/images/school_money_10.jpg" width="104" height="48"> </td> <td> <img src="images/images/school_money_11.jpg" width="140" height="48"> </td> <td> <img src="images/images/school_money_12.jpg" width="123" height="48"> </td> <td> <img src="images/images/school_money_13.jpg" width="63" height="48"> </td> <td> <img src="images/images/school_money_14.jpg" width="166" height="48"> </td> </tr> <tr> <td> <img src="images/images/school_money_15.jpg" width="31" height="30"> </td> <td> <img src="images/images/school_money_16.jpg" width="135" height="30"> </td> <td> <img src="images/images/school_money_17.jpg" width="104" height="30"> </td> <td> <img src="images/images/school_money_18.jpg" width="140" height="30"> </td> <td> <img src="images/images/school_money_19.jpg" width="123" height="30"> </td> <td> <img src="images/images/school_money_20.jpg" width="63" height="30"> </td> <td> <img src="images/images/school_money_21.jpg" width="166" height="30"> </td> </tr> <tr> <td> <img src="images/images/school_money_22.jpg" width="31" height="22"> </td> <td> <img src="images/images/school_money_23.jpg" width="135" height="22"> </td> <td> <img src="images/images/school_money_24.jpg" width="104" height="22"> </td> <td> <img src="images/images/school_money_25.jpg" width="140" height="22"> </td> <td> <img src="images/images/school_money_26.jpg" width="123" height="22"> </td> <td> <img src="images/images/school_money_27.jpg" width="63" height="22"> </td> <td> <img src="images/images/school_money_28.jpg" width="166" height="22"> </td> </tr> <tr> <td colspan="7"> <div align="center"> <img src="images/students.jpg" width="273" height="58"></div> </td> </tr> <tr> <td colspan="7"> <img src="images/pixel.gif" width="1" height="41"> </td> </tr> <tr> <td colspan="7"> <div align="center"> <table width="690" border="0" align="center" cellpadding="0" cellspacing="0"> <tr> <td height="18" colspan="2"> <p align="justify"> <font color="#003366" size="3" face="Times New Roman, Times, serif"><font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif"></font><font color="#003366" size="3" face="Times New Roman, Times, serif"><strong><font color="#336699">M</font><font color="#336699" size="2">ONEY <font size="3">M</font>ATTERS FOR<font size="3"> K</font><font size="2">IDS</font> </font></strong></font><font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif"> <font color="#FF6600">Special Features</font>, prepared just for students, will be highlighted in this section and updated on an ongoing basis. They will refer to issues and topics covered in the </font><font color="#003366" size="3" face="Times New Roman, Times, serif"> <strong><font color="#336699">M</font><font color="#336699" size="2">ONEY <font size="3"> M</font>ATTERS FOR<font size="3"> K</font><font size="2">IDS</font> </font></strong> </font><font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">seminars.</font></font></p> <p align="center"> <font color="#003366" size="3" face="Times New Roman, Times, serif"><font color="#336699"> <strong>W<font size="2">HAT </font>A<font size="2">BOUT</font> Y<font size="2">OUR</font> C<font size="2">REDIT</font> C<font size="2">ARD</font>?</strong></font></font></p> <blockquote> <p align="justify"> <font color="#003366" size="3" face="Times New Roman, Times, serif"><font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">Is it the best one for you? Do you know the differences between various credit cards? Have you read all the tiny print that explains the payment terms, conditions, and late payment penalties for which you are responsible?</font></font></p> <p align="justify"> <font color="#003366" size="3" face="Times New Roman, Times, serif"><font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">Shopping for the right credit card is an important and easy research project well worth your time. First, you&#8217;ll need to consider how you will use your card. Then you&#8217;ll have to consider interest rates and payment cycles, transaction fees, card fees, the impact of multiple APRs, how finance charges are calculated, your liability limits and how billing errors are handled, differences between charge cards and debit cards offered by various providers, among other things.</font></font></p> <p align="justify"> <font color="#003366" size="3" face="Times New Roman, Times, serif"><font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">The Federal Reserve Board offers excellent information to help you understand how credit cards work and gives you everything you need to know to choose and use the credit card that s best for you. Log on to their web site: <a href="http://www.federalreserve.gov/" target="_blank"> www.federalreserve.gov</a> and go to the tag for <strong>Consumer Information</strong> and explore! <strong>Consumer s Guide: Credit Cards</strong> is a good place to start. Then click on <strong>Learn More About...</strong> for much more useful information you will want to know about Options, Interest Rates, Fees, Lost or Stolen Cards, Billing Errors, General Complaints, and Managing Your Credit.</font></font></p> <!--<p align="justify"><font color="#003366" size="3" face="Times New Roman, Times, serif"><font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">You can also <a href="images/shop.pdf">click here</a> and go to<strong> Shop: The Card You Pick Can Save You Money</strong>, an informative 13-page pamphlet published by the Federal Reserve Board. Among its information is an important section entitled <strong>Credit Card Shopper&#8217;s Checklist</strong> &#8211; a must for every smart comparison card shopper.</font></font></p>--> <table width="514" height="227" style=" border: 1px solid;" align="center" cellpadding="4" cellspacing="4"> <tr> <td width="514" height="227" bgcolor="#FFFFCC"> <div align="center"> <p align="center"> <font color="#003366" size="3" face="Times New Roman, Times, serif"><font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong>The most important thing to remember about credit cards is that the credit they offer isn&#8217;t free. <br /> <br /> It&#8217;s actually very expensive. <br /> <br /> The interest rates charged on unpaid balances are often as high as 18% to 28.99%. If you do not pay your credit card bills in full every month you risk accumulating credit card debt, traditionally the single biggest obstacle to saving.</strong></font></font></p> </div> </td> </tr> </table> <p align="justify"> &nbsp;</p> <p> <font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong> YOUR CREDIT CARD BALANCE:</strong> <strong>THINK OF IT THIS WAY</strong></font></p> <p> <font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">Congratulations! You&#8217;re a freshman at college and from the many credit card offers you&#8217;ve received, you&#8217;ve chosen one. Let&#8217;s say you&#8217;ve bought all the text books you need for your first semester classes, you&#8217;ve paid some additional lab fees, bought some new clothes, and perhaps even treated yourself to a new computer and a fabulous sound system for your dorm room. Your parents have helped as much as possible but they expect you to pick up the difference between what they could contribute and what you actually spent.</font></p> <p> <font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong> Bottom line: you have a balance on your credit card of $1,000</strong>. </font> </p> <p> <font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">The calculations below assume:<br /> <br /> <ol> <li>you make no more charges on your card; and</li> <li>you plan to make only the minimum payment on time each month</li> </ol> </font> </p> <p class="MsoNormal"> <o:p>&nbsp;</o:p> </p> <table class="MsoNormalTable" border="1" cellspacing="0" cellpadding="0" style='background: yellow; border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-border-insideh: .5pt solid windowtext; mso-border-insidev: .5pt solid windowtext'> <tr> <td width="127" valign="top" style='width: 95.4pt; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal" align="center" style='text-align: center'> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> Minimum Payment<o:p></o:p></span></b></p> <p class="MsoNormal" align="center" style='text-align: center'> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> <span style='mso-spacerun: yes'></span> <o:p></o:p> </span></b> </p> </td> <td width="114" valign="top" style='width: 85.5pt; border: solid windowtext 1.0pt; border-left: none; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal" align="center" style='text-align: center'> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> <span style='mso-spacerun: yes'></span>Interest Rate<o:p></o:p></span></b></p> </td> <td width="180" valign="top" style='width: 135.0pt; border: solid windowtext 1.0pt; border-left: none; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal" align="center" style='text-align: center'> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> Amount of time to pay off your balance<o:p></o:p></span></b></p> <p class="MsoNormal" align="center" style='text-align: center'> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> <span style='mso-spacerun: yes'></span> <o:p></o:p> </span></b> </p> </td> <td width="169" valign="top" style='width: 126.9pt; border: solid windowtext 1.0pt; border-left: none; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoBodyText"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> Interest charges you will pay in that amount of time<o:p></o:p></span></b></p> <p class="MsoNormal" align="center" style='text-align: center'> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> <span style='mso-spacerun: yes'></span> <o:p></o:p> </span></b> </p> </td> </tr> <tr> <td width="127" valign="top" style='width: 95.4pt; border: solid windowtext 1.0pt; border-top: none; mso-border-top-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> $ 20<o:p></o:p></span></b></p> </td> <td width="114" valign="top" style='width: 85.5pt; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> 14 %<o:p></o:p></span></b></p> </td> <td width="180" valign="top" style='width: 135.0pt; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> 6<span style='mso-spacerun: yes'> </span>years<o:p></o:p></span></b></p> </td> <td width="169" valign="top" style='width: 126.9pt; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> $ 510<o:p></o:p></span></b></p> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> <o:p>&nbsp;</o:p> </span></b> </p> </td> </tr> <tr style='mso-yfti-lastrow: yes'> <td width="127" valign="top" style='width: 95.4pt; border: solid windowtext 1.0pt; border-top: none; mso-border-top-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> $ 20<o:p></o:p></span></b></p> </td> <td width="114" valign="top" style='width: 85.5pt; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> 18%<o:p></o:p></span></b></p> </td> <td width="180" valign="top" style='width: 135.0pt; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> 8<span style='mso-spacerun: yes'> </span>years<o:p></o:p></span></b></p> </td> <td width="169" valign="top" style='width: 126.9pt; border-top: none; border-left: none; border-bottom: solid windowtext 1.0pt; border-right: solid windowtext 1.0pt; mso-border-top-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt'> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> $ 863<o:p></o:p></span></b></p> <p class="MsoNormal"> <b style='mso-bidi-font-weight: normal'><span style='font-size: 14.0pt; mso-bidi-font-size: 10.0pt'> <o:p>&nbsp;</o:p> </span></b> </p> </td> </tr> </table> <p class="MsoNormal"> <o:p>&nbsp;</o:p> </p> <p> <font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">At 14% interest it will take you 6 years to pay off your debt &#8211; and you will have actually spent 51% more than the actual amount you spent.</font></p> <p> <font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">At 18% interest it will take you 8 years to pay off your debt &#8211; and you will have actually spent 86% more than the actual amount you spent &#8211; almost twice what you originally spent.</font></p> <p> <font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif">If you don&#8217;t pay your monthly bill on time, your interest rate could balloon to 28.99% &#8211; and with only minimum payments and no additional charges you would not be able to pay off the debt in your lifetime!</font></p> <table style="border: 1px solid" align="center" cellpadding="4" cellspacing="4"> <tr> <td bgcolor="#FFFFCC"> <div align="center"> <p> <font color="#336699" size="2" face="Verdana, Arial, Helvetica, sans-serif"><strong> Lesson: Pay your credit card balances in full every month!</strong> </font> </p> </div> </td> </tr> </table> </blockquote> </td> </tr> <tr valign="bottom"> <td colspan="2"> &nbsp; </td> </tr> <tr> <td colspan="2"> <div align="center"><font size="1" face="Verdana, Arial, Helvetica, sans-serif"><a href="index.html">Home</a> <font color="#FF9900">| <font size="1" face="Verdana, Arial, Helvetica, sans-serif"><a href="schooladministrators.html"> School Administrators</a> <font color="#FF9900">|</font> <a href="teachers.html">Teachers</a> <font color="#FF9900">|</font> <a href="parents.html">Parents</a> <font color="#FF9900"> |</font> <a href="students.html">Students</a> <font color="#FF9900">|</font> <a href="aboutus.html">About Us</a> <font color="#FF9900">|</font> <a href="contactus.html"> Contact Us</a></font></div> </td> </tr> <tr> <td colspan="2"> <img src="images/pixel.gif" width="1" height="40"> </td> </tr> <tr> <td colspan="2"> <div align="center"> <font color="#336699" size="1" face="Verdana, Arial, Helvetica, sans-serif">&copy; 2006<font size="2" face="Times New Roman, Times, serif"> M</font><font face="Times New Roman, Times, serif">ONEY <font size="2">M</font>ATTERS FOR <font size="2">K</font>IDS</font></font></div> </td> </tr> <tr> <td colspan="2"> <div align="center"> </div> </td> </tr> </table> </div> </td> </tr> </table> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> <p> &nbsp;</p> </body> </html>