ICS17ContM+New+Home


 * ** How would **
 * You Spend $10,000 Dollars ** ||
 * ||  |||| Total Spent ||
 * ||  |||| ** $10,000.00 ** ||
 * ** Item ** || ** Description ** || ** Item Value ** || ** Luxury **
 * Necessity ** ||
 * 46" TV || Sony Bravida 46" LCD TV || $1,399 || Luxry ||
 * Ipod Nano || Ipod Video Nano with 8 GB memour || $149 || Luxry ||
 * Xbox 360 || Xbox 360 Video Game || $259 || Luxury ||
 * Big Gun || exhaust for the car || $305.00 || Luxry ||
 * Plates || Plates || $79.99 || Necessity ||
 * Grill || Grill eastwood series 34 || 899.oo || Necessity ||
 * Couch || Pull out couch || 999.99 || Luxry ||
 * Refrigerator || french door || $1,358.00 || Necessity ||
 * Bed || malm bed || $229.00 || Luxry ||
 * Microwave || microwave stainless steel || $1,079.00 || Necessity ||
 * Washer || washing meachine || 898 || Necessity ||
 * Oven || use gas made by samaugae || $699.00 || Necessity ||
 * Dinner table || Counter hight dinn set || 199.99 || Necessity ||
 * Fireplace || built in fireplace || 569.05 || Luxry ||
 * TV Tray || foldable tv tray || 27.99 || Luxry ||
 * hamper || basketball hamper || 14.99 || Necessity ||
 * sliverwear || sliver with wooded end || 125 || Necessity ||
 * curtain || blue || 9.99 || Necessity ||
 * echo || black handsfree speaker etc.. || 179.99 || Luxry ||
 * lava lamp || lava looking red mantel || 24.99 || Luxry ||
 * fan || wooded || 149.99 || Necessity ||
 * surrand sound system || bluetooth || 80.99 || Luxry ||
 * mini bar || Mid-Century cabinet (Acorn) || 699 || Luxry ||
 * Pool Table || with accessory rack || 419.75 || Luxry ||
 * towel || blue || 14.95 || Luxry ||
 * Hook || blue to hang the towel || 7.88 || Luxry ||
 * freshener || does it by itself || 12.49 || Luxry ||
 * Letter M || for my bedroom door to hang || 3.19 || Luxry ||
 * Letter C || for my bedroom door to hang || 2.82 || Luxry ||
 * pest contol || spray || 1.97 || Necessity ||


 * || APR=15% || Compund Interest ||  ||
 * Principal || %Month || Amount Due || Payment ||
 * $10,000 || 1.25% || $10,125 || $372 ||
 * $9,753 || 1.25% || $9,875 || $372 ||
 * $9,504 || 1.25% || $9,622 || $372 ||
 * $9,251 || 1.25% || $9,366 || $372 ||
 * $8,995 || 1.25% || $9,107 || $372 ||
 * $8,735 || 1.25% || $8,844 || $372 ||
 * $8,473 || 1.25% || $8,579 || $372 ||
 * $8,207 || 1.25% || $8,310 || $372 ||
 * $7,938 || 1.25% || $8,037 || $372 ||
 * $7,665 || 1.25% || $7,761 || $372 ||
 * $7,390 || 1.25% || $7,482 || $372 ||
 * $7,110 || 1.25% || $7,199 || $372 ||
 * $6,827 || 1.25% || $6,913 || $372 ||
 * $6,541 || 1.25% || $6,623 || $372 ||
 * $6,251 || 1.25% || $6,329 || $372 ||
 * $5,957 || 1.25% || $6,032 || $372 ||
 * $5,660 || 1.25% || $5,731 || $372 ||
 * $5,359 || 1.25% || $5,426 || $372 ||
 * $5,055 || 1.25% || $5,118 || $372 ||
 * $4,746 || 1.25% || $4,805 || $372 ||
 * $4,434 || 1.25% || $4,489 || $372 ||
 * $4,117 || 1.25% || $4,169 || $372 ||
 * $3,797 || 1.25% || $3,845 || $372 ||
 * $3,473 || 1.25% || $3,516 || $372 ||
 * $3,145 || 1.25% || $3,184 || $372 ||
 * $2,812 || 1.25% || $2,847 || $372 ||
 * $2,476 || 1.25% || $2,507 || $372 ||
 * $2,135 || 1.25% || $2,162 || $372 ||
 * $1,790 || 1.25% || $1,812 || $372 ||
 * $1,441 || 1.25% || $1,459 || $372 ||
 * $1,087 || 1.25% || $1,101 || $372 ||
 * $729 || 1.25% || $738 || $372 ||
 * $366 || 1.25% || $371 || $372 ||
 * -$1 || 1.25% || -$1 || $372 ||


 * Making only the minimum monthly payment will get you out of debt quicker? True or False. Justify your answer with examples. - False, because if you pay additional $20 you will be paying it so much quicker instead of taking years and years to pay it off.
 * The higher the interest rate, means you will pay less interest in the long run? True or False. Justify your answer with examples. - False, because you will be paying more money than you need too.
 * Paying down on the principal will get your out of debt faster? True or False. Justify your answer with examples. - it will get out of debit faster.
 * You should pay off your credit card bill every month? True or False. Justify your answer with examples. - yes, because if you dont you will have a bad credit history.

- CON - Too convenient, credit makes it easy to overspend. - CON - buying with debit cards doesnt help build you credit history - an initial payment made when something is bought on credit.
 * discretionary spending - another term for want.
 * net worth - the amount you subtract what you owe from what you owe.
 * giving - charity
 * savvy shopping - to see if its a need or want.
 * budget - a road map for your money to follow
 * debt - something, typically, money that you owe
 * credit card pros and cons- __PRO -__ Tracking, credit card statement provide a nice monthly record on how much you spend.
 * debit card pros and cons - __//**PRO**//__ - accepted nearly everywhere
 * borrow and downpayment - Borrowing is a loan to get something you need like a house, a car, etc. Down Payment- Borrow from your bank.
 * APR- Annual Percentage Rate
 * credit score - kinda like a grade point for your money life
 * public and private colleges - you have to pay more for private school than a public school

=**Questions:**=


 * 1) =Why do people use credit cards?=
 * 2) =What are advantages and disadvantages of credit cards?=
 * 3) =What do the following terms mean? credit card, principal, APR, simple interest, compound interest, monthly payments=
 * 4) =How can understanding the math calculations for the principal, APR, simple and compound interest, and monthly payments of credit card debt affect your overall financial situation in the future?=
 * 5) =What is the most important idea you have learned from this lesson?=