The High School Financial Planning Program® (HSFPP) will be retiring on July 31, 2021. Learn more about this decision.

Borrowing: Use—Don't Abuse

Lesson 2-1 Using Credit

You’ve probably heard a lot about debt over the years—good and bad. But debt itself is actually neither. It’s merely a borrowing tool to buy something now and pay for it later. How we use debt is what’s good or bad. Pay attention to your borrowing habits to be prepared for upcoming credit decisions.

What You’ll LearnWeigh the benefits and risks of borrowing.

Taking it Home

  • Use the Stop, Drop, and Think Before You Buy Test to guide a buying decision you are now pondering, especially if you don’t have enough money on hand to cover the cost of the purchase. (Find the Think Before You Buy Test on page 40 of the Student Guide.)

Learn More

  • Find a news story that relates to the risks or rewards of borrowing. Summarize two or three new things that you learned from the story.

Related Resources

Talking Points for Parents

While your teen is learning about borrowing and credit, consider ways to reinforce learning from home.

  • Invite your teen to share what he or she is learning in class about factors to consider when deciding whether or not to use credit.
  • Share examples of what you consider when deciding whether or not to use credit for purchases.