Invisible Money - Cartoon Network South East Asia

Do-Together Activity PAGE 4••••••DISCUSS CREATE REVIEWStart this activity by watching the musicvideo. Then ask the following questionsand discuss with your child(ren):What do you know about credit cards?How does a credit card work?Does it cost anything to buy somethingon a mobile, tablet or online? How does itwork?Where does the money come from to payfor credit card or digital purchases?What happens if there isn’t enoughmoney in the bank account to pay for allthat we bought?What is interest?1)…Reverse Create Your Own PartyPrudence helped to explain how the band spent more than they haveusing invisible charges.Compare each of the attached Bank Statements with the Credit CardStatements. Talk about:a) how much cash was withdrawn from the bank account for the party;b) how much money was spent on the credit card for the party;c) whether there is enough money in the bank account to afford thewithdrawals and the credit card charges.If money spent is more than money in the bank, talk about a plan forpaying it off and figure out how much more it will cost due to interest.If money spent is not more than the amount of money in the bank, talkabout what to do with the ‘extra’ money and why.Now that you have reviewed realbudgets, credit card statements andbank statements answer the followingquestions together:• Is spending on credit cards good or bad?Why?• What can you do to be sure that moneyspent on a credit card is not moremoney than you have in the bank?• Is spending money on a credit card ordigitally easy or hard? What could wedo to make it harder so that we aremore careful with how we invisiblyspend?• What is good about interest? What isbad about interest?2)Use the Party Budget Planner to start over and plan a party for a friendor parent that allows you to buy what you want for the party but doesNOT allow you to spend more money than what is in the bank.3)Extra Credit:a) write what was bought with the withdrawal money on the bankstatements;b) make your own statements using real life situations!

CREDIT CARD STATEMENT 1BANK OF CHA-CHINGITEMParty StoreDJ Flashy Party HireHappy Birthday BannerParty SongsJay’s PizzaLaser LightsBus TicketPhone BillAMOUNT$20.00$60.00$10.00$10.00$20.00$20.00$ 1.00$ 9.00TOTAL: $150.00MINIMUM PAYMENT DUE $15.00

BANK STATEMENT 2TypeBalanceBANK OF CHA-CHINGAmountBalance$200.00Withdrawl $20.00Withdrawl $40.00Withdrawl $10.00Withdrawl $10.00Withdrawl $20.00180.00$140.00$130.00$120.00$100.00Available Balance $100

CREDIT CARD STATEMENT 2BANK OF CHA-CHINGITEMParty StoreDJ Flashy Party HireParty SongsPhone BillAMOUNT$10.00$60.00$10.00$ 9.00TOTAL: $89.00MINIMUM PAYMENT DUE $8.90

Party Budget PlannerExpensesCash Expenses Credit CardFood$Food$Decorations$Decorations$Music$Music$Lights$Lights$Transportation$Transportation$Phone Bill$Phone Bill$Sub Total $ Sub Total $Total ExpensesCash $ _____Credit Card $ _____Total Total $

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