Alisa Boykin introduces the topic of the lesson, debt elimination. By defining credit, Alisa discusses the difference between good and bad credit or debt with the Economic Central characters. By paying back your
debt, you restore your credit and your good name. The best way to eliminate debt is by educating people on how to manage their finances.
Borrow – to obtain or receive something on loan with the promise or understanding of returning it.
Credit – confidence in a person’s ability and intention to pay.
Debt – something owed. You have an obligation to pay something.
Eliminate – to get rid of; remove.
Owe – to be in debt.
Payback – to return what you owe.