Credit scores and debt@headingTag>
This activity pack helps young people understand what a credit score is and what affects it, before exploring practical ways of dealing with different types of debt. They’ll also look at a series of different scenarios related to debt and devise their own practical, relevant examples on how they would respond to these situations.
By the end of this lesson, participants will be able to:
- Define what a credit score is, and why it’s important to have a positive credit rating
- Explain what can affect credit score and identify specific examples of what makes a poor/good/excellent rating
- Understand that a company will complete a credit check when applying for a financial product, and so it’s essential to look at past behaviour
- Recognise that there is a connection between credits scores and debt, as being in debt is one way that a credit score can be affected negatively
- Explain the difference between being in debt and being in financial difficulty
- Demonstrate different the ways in which people can act or access help if they find themselves in financial difficulty or debt
To access worksheets for all twelve activity packs in one place, use our ‘Setting yourself up for financial independence’ workbook.
Other LifeSkills lessons are also suitable for use with care leavers to support them on their employability journey, here are some to get started with:
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