Joanna Jarvis

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MYFLIP Affordable Credit Loans

• Joanna Jarvis

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Session Plan

• Finance Discussion Carousel
• Understanding Financial Jargon Credit Quiz
• Cost of Credit Exercise
• Credit Card Statements
• DVD A positive approach to debt
• Credit 4 Life Game
• Further Information

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Credit V Debit
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Why do we borrow?

• To pay for things in advance of earnings and
  help spread cost
• Increase spending ability beyond normal means
• Support investments for the future

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Whats APR?

• Understanding Financial Jargon - Credit Quiz

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Where do we go for cash?
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Understanding Credit

• APR

• Example APR

• APR (Annual Percentage Rate)
• Total amount of interest, including extra charges
  and hidden costs due on the loan per year.

• Capital Credit Union 26.8
• Provident 272.2
• Greenwoods 433.4
• Quickquid 2278
• Cask Genie 2339
• Wonga 2689

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Cost of Credit

• Credit Case Study
• Cost of Credit Exercise

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Spot the difference

• No. 1

• No. 2

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Spot the difference

• Bright House

• Argos

• No. 1
• Pay 4.99 Weekly
• Over 156 weeks
• Cost 778.44

• No. 2
• Paid in full
• Cost 264.99
• Difference 513.45

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Further Information

• www.moneylaidbare.info
• www.moneyfacts.co.uk
• www.thesite.org
• www.fsa.gov.uk
• www.learnaboutmoney.org
• www.moneysupermarket.com