Reflective Blog For The Week Of December 8th

This week in Econ we delved into banking and the risks of banking and how to be successful while banking. I learned the hard way when I fell into debt to Gurubandaa and owed him a lot of money, I have been giving him the majority of my money but for some reason I owe him for giving him money. I don't understand why but it is Gurubandaa so its gotta be for a good reason. I owed him $35 dollars because I borrowed $20 from him in order to buy Doritos. His interest rates are pretty high but I don't trust the bank of Annie, so I'll just take what I can get. I payed him back Friday and all has been going well since, considering I haven't been at school in order to spend my money. Teehee

Reflective Blog For The Week Of November 29th

This week in Personal Finance we mainly went over banks and credit cards. We talked mainly about credit card issues and how people make bad decisions. The main problem is the interest rate.  People make bad decisions and go over their credit amount and the rate goes up. Some people don't pay their credit bill on time and some people only pay the minimum amount, which overtime will cause your rate to go up. The rate basically means that the people will be charged more for using their credit card. Late fees can also go up over time. The best thing to do is to be a "deadbeat" someone who pays over the minimum amount and never goes over the limit and always pays on time. This person can keep their rate low and save much more money. What do you think are the advantages and disadvantages of using credit cards? Tell me in the comments below. VVV