NewHomeLJ215


 * ** Item ** || ** Description ** || ** Item Value ** || ** Luxury **
 * Necessity ** || ** Online Source ** ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * kitchen towels || stripe and grid towels || $6 || necessity || __ http://www.target.com/p/threshold-stripe-grid-kitchen-towel-set-of-4-green/-/A-14942757#prodSlot=_1_1 __ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * silverware || 5-piece || $30 || necessity || __ http://www.target.com/p/gorham-valcourt-steel-5-piece-place-set/-/A-16295871#prodSlot=_1_11 __ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Slow-cooker || aroma || $18 || necessity ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Living room set || Metropolis 3 set sectional || $1,999.00 || Luxury || http://www.roomstogo.com/product/Sectionals/Cindy-Crawford-Metropolis-Slate-3Pc-Sectional/1209178P/ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Dinnerware || Camden 16 piece || $59.99 || necessity || http://www.target.com/p/threshold-camden-16-piece-dinnerware-set/-/A-15696504#prodSlot=_1_1 ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * washer and dryer || amana washer and dryer;white || $250.00 || necessity || https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=cheap+washer+and+dryer+set&safe=strict&tbm=shop&spd=12183520868124665338 ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * stove || white; Kenmore electric || $197.99 || necessity || //www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#safe=strict&tbm=shop&q=cheap+stove&spd=12046149664384397042 ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * bedroom set || 5 piece set || $688.00 || Luxury || http://www.roomstogo.com/product/Queen-Bedroom-Sets/Belcourt-Queen-White-5Pc-Panel-Bedroom/3105453P/ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * fridge || kenmore || $248.99 || necessity || https://www.google.com/#safe=strict&tbm=shop&q=fridge&tbs=vw%3Al%2Ccat%3A686%2Cprice%3A1%2Cppr_min%3A1%2Cppr_max%3A500&spd=16241264514321830146 ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * 1) Why do people use credit cards? Because you dont have to pay then and there when you are purchasing an item.

What are advantages and disadvantages of credit cards? Advantages- You dont have to pay then and there. Disadvantage-if you use it so much, the money adds up and at the end you pay a lot of money.

What do the following terms mean? credit card, principal, APR, simple interest, monthly payments. credit card:a small plastic card issued by a bank, buisness, etc. principal:a fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning. APR: The term **annual percentage rate** of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (or EAPR), describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. simple interest: **Simple interest ** is money you can earn by initially investing some money (the principal). monthly payments: the payments that you have to give every month.

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? Because then you manage your money easily and you can make smart decisions.

What is the most important idea you have learned from this lesson? How to manage my money.