ACTIVITY: Cat Insanity
Taking care of one cat should be easy, right? But how easy would it be to care for five cats? Or even ten? This is similar to how it feels when you’re forced to manage multiple sources of debt that continue to grow due to interest. Will you be able to keep up? Follow the directions on the worksheet to complete this activity.

VIDEO: What Happened When I Didn’t Pay a Debt Collector
Many people choose to take out debt for a variety of reasons, like taking out an auto loan to buy a car or a mortgage to buy a home. That’s when the responsibility of making timely payments comes into play. Watch the video to hear the story of JoAnn and her experience with debt. Then, answer the questions.

LEARNING TARGETS:

• I can observe how interest-bearing credit accounts impact a person’s ability to manage debt.
• I can analyze the actions of someone who found themselves in problematic debt.
• I can assess multiple strategies to reduce or eliminate debt.
• I can compare when late payments become troublesome and the potential consequences for late payments of different types of debt.