|Objective||To teach kids how to analyze the quality of a deal.|
Every month you or your parents receive different offers in the mail. Offers from credit card companies, car dealerships, contests, cable or telephone providers, home security services or local businesses which make various promises. One month gather two or three of these offers together and sit down with friends or family and talk about how good the actual offers are. Look at the following:
1. Is there an introductory rate? What is it? How long does it last? Is this really a better deal, long term, than what you or your parents currently have?
2. What are the hidden costs? For example installation may be free, but there might be a monthly service charge that you would need to pay.
3. What are the exceptions? Sometimes there are exceptions to the deal, the deal will expire or it is simply not offered in your area. Exceptions are often marked with a small symbol (* or +), and you can find out what they are by reading the small print at the bottom or on the reverse of the advertisement.
Once you have reviewed the offers decide whether they are actually good deals or if they are "Too Good To Be True".
You could do the same thing with TV commercials (look for the small writing on the screen, to see the exceptions or disclaimers), newspaper advertisements or radio advertisements.
Mark this activity as complete when you have analyzed one mail offer or advertisement - you are looking to see if it actually a good deal or not. Also read the small print on one credit card offer or bill - look for "the catch" and make a decision as to whether the company is offering you the best deal possible.
Track your progress and earn badges!
This activity is included in the following:
|Age Range||10 11 12 13 14 15 16 17 18|
|Tags||Credit Cards Consumer Smarts|