This Credit Abuse Resistance Education (CARE) Program presentation was created
by Lindsay Fong, Multimedia Training Specialist, at the U.S. Bankruptcy Court –
(It has been modified from a presentation originally created for the CARE Program
by Carol Kenner, a retired Bankruptcy judge from the District of Massachusetts.)
Additions deletions and/or corrections to this presentation should be forwarded to
Lindsay Fong at this e-mail address:
Also, you can contact him at (619) 557-2676.
This slide helps to gain the students’ interest and to jump-start a discussion about
the difference between spending on wants and spending on needs. From this
beginning, the topic can be turned to credit card use and credit abuse.
( d th t i
b d d
e consumers an a nc u es you young peop e are cons an y om ar e w
advertisements to buy things and to spend our money. Ads of all kinds most
commonly appear in magazines or on billboards; they can be found on television,
on the Internet, or in movie theatres before the film starts playing.
Much of the spending by young people also can be attributed to peer pressure. They
th i f i
ld b “
may uy an em ecause e r r en s a rea y ave one, or wou e so very
cool” to own one– even before their friends get one.
Unless you’ve saved a lot of cash, you very likely will use a credit card to purchase
those “big-ticket” items: cell phones, MP3 players, TVs, digital cameras,
computers, games, etc.
Stores and merchandisers make it very easy for you to charge a purchase and to
take it home and start using it that very same day Internet merchandisers too have
streamlined the buying process and have made buying online way too easy. They’ll
even suggest “last-minute” items to buy while are digitally checking out!
Many fast-food restaurants now accept credit cards as a fast and easy means of