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Personal finance  justin jabowski
Personal finance  justin jabowski
Personal finance  justin jabowski
Personal finance  justin jabowski
Personal finance  justin jabowski
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Personal finance justin jabowski

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  • 1. Personal Finance Ms. Ross Spring 2009
  • 2. Credit
    • Credit is the ability to obtain goods and services before paying for them, based on a promise to pay later.
    • Thus, each time a person uses credit, he or she is in effect borrowing money.
  • 3. Revolving Credit
    • This is credit that is available up to a limit and automatically renewed as debts are paid off or paid down.
    • People who use revolving credit often make partial payments on their unpaid balances at regular intervals.
    • For example, credit card accounts offer revolving credit to users.
  • 4. Credit, Friend or Foe?
    • Unwise use of credit can lead people to spend more money than they can afford to pay back, reducing their ability to make purchases or save money in the future.
    • Compound interest can work against you if you use credit cards unwisely.
    • When well used, however, credit can provide many benefits.
  • 5. Credit, Friend or Foe?
    • Credit can be used to deal with emergency situations or to purchase valuable assets such as an automobile, a home, or an education.
    • It is in your best interest to learn to analyze the costs and benefits of using credit.

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