Debt Information for Teens, 3rd Ed.
- Author/Editor: John Tilly
- Binding: Library binding
- Trim Size: 7 ¼ x 9 ¼
- Page Count: 356
- Book Level: 10
- Publication Date: March 2018
- ISBN: 978-0-7808-1569-8
- List Price: $71.00
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Debt Information for Teens, 3rd Edition, offers updated information about economic fundamentals that impact personal finances and ways to manage money. It explains how to develop a personal budget, save for future goals, and make purchasing decisions. It also discusses establishing and using credit, the basics of borrowing, the purposes of credit reports and credit scores, and some of the most frequently encountered types of loans, including installment, vehicle, and education loans. A special section on credit cards explains the different types of credit cards, how fees are calculated, the perils of making minimum payments, and tactics sometimes used by credit card companies that can be costly for consumers. Another section provides information about resolving debt-related problems, and the book concludes with a list of online tools and a directory of resources for additional information.
This book is divided into parts and chapters. Parts focus on broad areas of interest; chapters are devoted to single topics within a part.
Part One: The Economy And Your Wallet explains the relationship between global financial issues and personal finances. The latest annual report to congress on student banking featuring information on bank accounts, debit and credit cards is present. It reviews basic fundamentals about money, monetary policy, and interest rates and explains how these issues affect people—even teens—on a day-to-day basis.
Part Two: Personal Money Management describes important concepts and tools that can help teens handle the funds under their control. It discusses the importance of making a budget, using good decision-making regarding spending, and building wealth by saving. It also explains how banks work, how to avoid costly mistakes in managing checking accounts, and steps that can be taken to help minimize risks associated with identify theft.
Part Three: Establishing And Using Credit explains credit comprehensively. It details the process by which credit reputations are formed and how credit history can impact the ability to borrow money, rent an apartment, or even get a job. It explains credit reports and credit scores, and it offers details about the types of loans most commonly encountered by teens—installment loans, car loans, and education loans.
Part Four: Credit Cards offers a look at credit cards. The advantages and disadvantages associated with credit cards and important differences between credit cards and debit cards are discussed. Tips for evaluating and comparing credit card terms are included along with explanations regarding interest, fees, and practices that may lead to increased consumer costs. Measures to take in case of inability to repay credit on time and rebuilding credit history is discussed.
Part Five: Identifying And Resolving Debt-Related Problems talks about situations that can occur when debt gets out of control. Options for repaying student and credit card debt by consolidation is detailed. It explains the legal protections available to consumers and provides facts about related issues, such as vehicle repossession and bankruptcy. Deceptive tactics and illegal practices sometimes used by companies that prey on people with financial difficulties are also described.
Part Six: If You Need More Information provides a list of interactive financial tools, online calculators, and other web-based resources along with a directory of financial organizations.
Includes FREE online access for 30 days after activation.
“Offers ‘real world practical’ information for teens about establishing and using credit, managing credit cards, and coping with debt-related problems. An impressive source of tips for teens wanting a successful financial life and cover such issues as relevant facts about the national economy, money management, interest rates, predatory lending practices, and resolving debt related problems. A part of the Omnigraphics ‘Teen Finance Series’ and is unreservedly recommended for high school, college, and community library collections.”
—Midwest Book Review, 2018