Blohm, Craig E. Teen Guide to Credit and Debt. Part of the Teen Guide to Finance$ series. 2017. 64p. ISBN 978-1-68262-060-3. Available at 332.74 BLO on the library shelves.
Recent surveys show that 1 in 4 teens do not know what an overdraft fee is or where it takes place, and nearly 1 in 20 teens believe they do not have to pay back credit card debt. With the economy roaring back, teens increasingly have more disposable income and are working harder. However, college spending keeps increasing, and most teens will incur a heavy load of student loans before they even graduate. More frightening, many teens do not understand how credit works. This book aims to remedy that fact by presenting information on credit and how it is used in the life of teens.
A valuable tool for a stable financial life, credit helps people purchase big ticket items such as homes, cars, and college. However, misusing credit can lead to severe consequences including ever mounting debt, a ruined credit score, and even bankruptcy. Learning about how to use and manage one’s credit is one of the most important skills that any teenager will ever have, and this book does an excellent job of covering the positive and negative aspects of credit.
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