Oh The Credit.

The year is finally winding down. I am very happy for that. We have learned a lot in the past few weeks of finance and education in economics. Specifically, this week was a whirlwind of exciting credit cards and hearing stories of bad credit and it was all kind of scary, I'm not gonna lie. You have to have good credit to basically be able to pay for anything over a long period of time that cost bug bucks. If you miss payments for any reason your score drops like THAT. Credit cards can be very helpful, but they can also hurt you a lot. We ended up finding out about different forms of credit, such as open-ended and closed-ended, and places where you can get credit, such as a credit bureau or a private lender. BUT NEVER GO TO TITLE LOAN PLACES. THEY ARE EVIL. But moving on, we helped out a friend to get a TV and pay for it over time and we didn't get paid this week or have any bills that I remember... so I guess that equals out to be okay. Hopefully, If we did have any bills, they are not on my credit card, because I don't want my credit report to say that I missed a payment! I have to keep my score in top shape for as long as I can :)

Budgets: What when how... to save YOU money!

WIth all of the items for sale in the world, it can be hard to keep a handle on your money! It always seems like the world is just throwing out bigger and better things to purchase. So, how would someone be able to become financially stable in a world like this? Well, first off, a financially stable person is someone who makes enough money or saves enough money to fulfill their wants and needs. There are many tactics that can be used to be sure that you have money in your savings. First, whenever you get paid, you must be sure to PAY YOURSELF FIRST. This means taking a percentage of your payment and immediately putting it into savings. We learned that generally, the more closets a household has, the greater their household debt! This is amazingly true to me, thinking about the people that I know. We learned a lot of interesting things this week in Econ, and I hope that we continue on to learn more!

The Switch to Personal Finance

Wow, Spring Break went by way too fast. It seems like we just got out and then the next day, we were back in school! With the restart of classes, our Econ class took the turn to personal finance. On Monday, we started some notes about money and what is does. We made up some islands and drew on them. I was absent on Tuesday, but I heard we set up our bank accounts and got all situated in the Bank of Nettie. I set mine up on Wednesday when I returned, and then went and purchased a chocolate peanut butter bunny for $5.00. It was totally worth it! After doing so, we all got our first bill for the electric company and had to pay around $45. We wrote out our checks and learned what information was important. We mailed out our bills and then took some more notes on the Fed and the ways that banks supply money. I realized this week the idea of money. Like.... I had always known what is was, but I never realized how basically unimportant it would be without the backing of the nation. I am just excited to delve deeper into the information that we are learning about now.