18. Uncle Visa and Aunt MasterCard

      Christmas is around the corner and money seems to always be tighter than usual. When money is tight the credit card comes into play (Risky Business). Reading an article in Men’s Health made me think of my cards and how they are stilling in balance.

Reflection

·       If you have a 5000 dollar credit card with an annual rate of 20+ percent and it is maxed out. If you only make the 100 dollar a month payment I would take you 25 years to pay it off.

·       But if you pay 110 it would only take half that time.

·       Shocking what an extra ten bucks can do.

Reflection on Reflection

·       #1- Credit cards are the devil!

·       #2- We live in a society that constantly lives out of their means. We buy more material then what we have money for.

·       #3- Introducing the idea of interest to students earlier than later would be a valuable lesson in my opinion.

Dec 15^th/2011