Friday, December 6, 2013
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
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I think a debit card is the way to go so that you can only spend the money that you have.
ReplyDeleteI think credit cards are good since they are convenient but they are dangerous since they can cause you to spend more money than you have, debit cards are the much better choice
ReplyDeleteI have a debit card and i think that it is safer than a credit card because i dont have to worry about going into debt and i can focus on not bouncing the bank rather than going into debt
ReplyDeleteCredit cards are only good if someone has discipline. People can get into debt so easy with credit cards.
ReplyDeleteI agree credit cards are good and fine, but the rates and extra charges are what get you. People also tend to abuse and overuse them. Thus causing a large amount of dept.
ReplyDelete-Boomer
I think credit cards are a good thing but the person needs to be able to handle the responsibility of having them.
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