Borrowing Money

Division III: Gr. 7-9

Understanding Credit and Debit

Most people borrow money at some point in their lives. There are different ways to borrow money from different sources and lenders. Financial tools such as credit cards make it very easy to borrow. Low interest rates and persuasive lenders can lead people to borrow more than they can afford. It is important to help youth understand how to make good borrowing decisions and manage debt so it doesn’t become a problem. They should be able to use credit cards wisely and be able to select a card or cards that are best for them. They should also know how to avoid unnecessary fees and penalties. Borrowing can be a helpful financial tool – so long as it is managed well. 

Please Note: Teaching Units provided are for support and consideration by teachers and are not prescriptive.

Learning Map and Supports for Instruction

The “Learning Map” identifies teaching opportunities in Alberta’s curriculum for each topic and you will find them as part of the Support Teaching Materials provided here. Teachers can, of course, integrate the target areas of financial knowledge, skills, attitudes, and behaviours anywhere they can find a fit. The Supports for Instruction provide videos, animations, and links to other resources to support teachers in their efforts to improve the financial literacy of their students.