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Lesson Plan: Understanding Credit Scores


As young people begin to create their credit history, it’s easy for a lack of knowledge and experience to create long-term financial detriments. The mindset of ‘buy now, pay later’ can be addictive for youths, and influence their financial trajectory for years to come. By learning how credit scores work, and the various factors that are used to calculate them, young people can empower themselves to make better financial decisions.


Introduce students to the concept of credit scores, how they’re calculated and why they’re important and provide students with the knowledge to form good credit habits.


• Define a credit score and identify its contributing factors

• Demonstrate both positive and negative practices that influence credit scores

• Read and interpret a monthly credit card statement

• Read and interpret a credit report


Activities A and B can be used to gauge student understanding. An optional quiz has been provided with this lesson plan (the quiz is not factored into the lesson’s 45-minute runtime).

Lesson plan Activity A  Activity b Quiz