Theme 5 Lesson 15:
Cash or Credit?

Most students are aware of the variety of payment options available to consumers. Cash, checks, debit cards, and credit cards are often used by their parents; however, the students probably do not understand the implications of each. This lesson examines the advantages and disadvantages of various payment methods and focuses especially on using credit. The students are challenged to calculate the cost of credit, compare credit card agreements, and analyze case studies

Visuals & Activities


  • Annual Fee
  • Credit
  • Credit Limit
  • Finance Charge
  • Grace Period
  • Inflation
  • Interest
  • Interest Rate
  • Late Fee
  • Minimum Payment
  • Opportunity Cost
  • Payment

Standards in Economics and Personal Finance

View the standards that correlate to this lesson:

Related Lessons


Joseph H.
"this is great what is exercise 15.3 theme 5 grades 6-8."