Lesson sheet · Module 22
Credit — types, annual percentage rate of charge (APR), mortgages, credit history
The aim of the lesson
Know the whole price before you sign; take only what your budget can carry even under worse conditions; look after your history — and ask.
- 👧 Child: before you agree to a loan, ask "how much will I give back in total?".
- 🧑 Teenager: compare the APR and the total amount, not just the instalment.
- 🧔 Adult:
- the SECCI form and a comparison of at least two offers;
- 14 days to withdraw and the right to repay early — you know them;
- mortgage: a budget that can carry a higher interest rate;
- being a guarantor — only knowing the consequences;
- your own report from the credit register — know what it says (in many countries it is free).
Your step in Pecuvo: for each loan, create a "debt" account with the amount, interest, APR, instalment, due date and end date. Add a "pay off" goal and a reminder for a yearly credit register report.
The topic (chapters of the module)
- Chapter 1 · What credit is and who gives it
- Chapter 2 · Types of credit
- Chapter 3 · The price: interest rate, fees and the APR
- Chapter 4 · Before the contract: the form, the withdrawal period and early repayment
- Chapter 5 · The mortgage
- Chapter 6 · Credit history and the credit register
- Chapter 7 · Guarantor and collateral
- Chapter 8 · Before you sign: a questionnaire and what changes from 20.11.2026
For the youngest · ages 6–7
🐣 The youngest: Credit is when you take something now and give it back later. Often you give back a little more — like a thank-you for waiting. Before you take, you ask: "When will I give it back?" When you give back on time, people trust you.
Play together (5 minutes): Make a "lending book": your child borrows a book from your shelf for 3 days. Write down together what was borrowed and when it will come back. When it comes back, put a star in the lending book.
A question for the evening: "What is good about giving something back on time?"
A game from the catalogue: KD-09 "Borrowed or a gift" — https://pecuvo.eu/igri/katalog/#kd-09 (in Bulgarian)
Questions for the class — 3 per level
- 👧 1. What does "the price of a loan" mean? 2. Why do we ask "how much will I give back in total?". 3. What does a person promise when they agree to answer for someone else?
- 🧑 1. What is the difference between the interest rate and the APR? 2. What is the difference between collateral and a guarantor? 3. What is a credit history, and how do you keep it good?
- 🧔 1. What must Member States do against excessively high APRs from 20.11.2026, and how does your country limit them (example: Bulgaria — a cap of five times the statutory interest, clauses above it are void)? 2. What are your rights to withdraw within 14 days and to repay early, and what compensation is allowed with a fixed rate? 3. How do you get your own credit register report, and what do you do if it contains an error?
A 45-minute plan
- 5 min
- The question for the evening or one from “Check yourself” — what do the pupils think? No right or wrong answers.
- 15 min
- One or two chapters of the module at the level of the class (the “child · teenager · adult” buttons on the page).
- 10 min
- The game or the calculator for the topic — in pairs or on the board.
- 10 min
- The questions for the class. If you like, the open test — everyone writes down only their code.
- 5 min
- The iron principle in the pupils' own words and one small step for home.
Tools for the lesson
- The whole module on the website pecuvo.eu/en/modules/credit/
- Calculator: Loan and APR pecuvo.eu/en/calculators/loan-repayment-apr/
- The open test (9 questions) — pupils write down only their code (e.g. K4B11), no names; the class distribution is shown on the same page pecuvo.eu/en/test/
- The Glossary — terms explained simply pecuvo.eu/en/glossary/