NewHomeSR

= **Questions:** = =Why do people use credit cards?= People use credit cards because they can go out and buy things, and then when they get paid at the end of the month, they can pay off their credit card. An advantage is that you can buy and buy and buy, but a disadvantage is that you could buy to much, overcharge, and be in debt. =**What do the following terms mean? credit card, principal, APR, simple interest, monthly payment**= Then if I ever get into debt I will be able to get out of it. That I can't overcharge without knowing how to get out of debt.
 * ** Item ** || ** Description ** || ** Item Value ** || ** Luxury **
 * Necessity ** || ** Online Source ** ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Pull Out Bed || A bed for guests || $80 || luxury || __ http://www.ikea.com/us/en/catalog/products/30247991/ __ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Day Bed || My bed || $109 || necessity || __ http://www.ikea.com/us/en/catalog/products/S69029384/ __ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Refrigerator || 3.1 cu ft double door || $250 || necessity || __ [] Refrigerator/26874824 __ ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Stove || 4.8cu ft self clean 5 burner || 2099 || neccesity || ?[]= ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * couch/bed || inflatable bed/couch || 60 || luxury || www.walmart.com/search/search-ng.do?search_constraint=0&Find=Find&_ta=1&search_query=inflatable couch&_tt=inflatable co ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * washer || 5 cu ft || 1099 || neccesity || []= ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * dryer || 5 cu ft || 1099 || necessity || []|1&pl=1&currentURL=%3FNs%3Dp_product_qty_sales_dollar%7C1&facetInfo= ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * bouncy castle || bouncy house w/ water slide || 480 || luxury || ?[] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * dinner table || glass w/ 5 chairs || 200 || necessity || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * DSI XL kit || DSI with accessories || 219 || luxury || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * pillow pet || bumblebee pillow pet || 5 || luxury || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Silverware || Fine dining set || 60 || Neccesity || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * China Cabinet || A cabinet for my fine China || 1079 || luxury || ?[] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Television || HD TV || 749 || luxury || ?[] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Microwave || Microwave Oven || 50 || Neccesity || ?[] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Blender || Smoothie Smart Blender || 45 || luxury || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Leaf Blower || Around the back gas blower || 350 || necessity || [] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Chair || Bean Bag chair || 189 || luxury || ?[] ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * Storm Trooper suit || Wearable suit || 1608 || luxury || []Bowl.aspx?CoreCat=OnSiteSearch ||  ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||   ||
 * What are advantages and disadvantages of credit cards? **
 * Credit Card - a card that lets you buy now, and pay later.**
 * Principal -**
 * APR - Annual Percent Rate**
 * simple interest - rent on money**
 * Monthly Payment - The amount of money you owe each 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? **
 * What is the most important idea you have learned from this lesson? **