Financial Literacy Highlights

Investment

Investing is when you put your money towards something that has the potential to make you even more money, there are different types of investing options like Stocks, which is a share of ownership in a company and the people who own a stock in a company is called a stockholder. Bonds are like loans except that instead on the bank lending you money you’re the one doing the lending to an organization. Mutual fund is a collection of investments like stocks or bonds. When a stock market is doing well it is called a Bull market and when it is doing bad it is called a Bear market.

Consumer Fraud

Consumer fraud is an intentional deception made for personal gain or to damage a person and one of these things is Identity Thieves which is one of the most prevalent crimes in the world affecting million of people in the U.S alone. Identity Thieves can get your information by going though your trash, inquiring after your credit card report, stealing your wallet, and by advertising fake commercials and so to prevent that the Federal Trade Commission which is a agency that regulates consumers against false advertising stops these commercials. Other ways to protect yourself from this which most people don't figure out until they've become a victim and the damage is done is that you check your credit report once every year, shred financial document and never share private information with anyone. 

Taxes and Insurance

Taxes and Insurance are play a very important role in our everyday lives, and Taxes are required by law, the tax dollars we pay go back to us, they also go to firefighters and many things we use everyday like water, roads, airports, and schools. There are also two types of taxes which are sales and income. Sales tax is when you pay for something, the sales tax is then added to the total before you pay and is usually a percentage of the price pf what you purchase. Income tax is money withheld from the money you make as income. Most states charge income tax on all its residents but in or tax system we are taxed on the money we earn each year. Insurance helps you transfer your financial risk unto someone else, there are three types of insurance which are Health, Auto, and Home. Auto insurance is very important and is required by law because if you injure someone'es property or yours you can easily pay for it

Renting Vs. Owning

                                   Renting is usually what people do when they're just starting out, there are also several reasons why it might be better to rent instead of buying even if you can't afford a mortgage, for example renting gives you more flexibility than buying. You don't have to worry about selling the place if you want to move. Property ownership also has a lot of advantages, it means you can do whatever you want with your property. If you have a fixed-rate mortgage, you'll pay the same amount every moth and depending on the market houses can sometimes increase in value or appreciate over time therefore making you earn a profit

Financing Higher Education

                                     Simply said Higher Education is an education beyond high school, best way to pay for your Higher Education is through Grants and Scholarships since they aren't loans you can use this so you don't have to pay back any money you owe, though they might not be to easy to receive. Because of this it would be easier to rely on student or Federal loans. Federal loans include PLUS, Stafford and Perkins.

Payment Interest Rates and Credit Cards

                                     Credit Cards are more costly than other payment types. There are also different payment types like cash, checks, money orders etc. When you use a Debit card the more is debited from your bank account, they are sometimes called check cards.

Credit Score

                                          Credit score is a number representing how long till you pay off your debt, it is also very important in our everyday lives and we need to be responsible with our things.

Banking

                                    Banking is when you give your money to a business and they store it for safe keeping and then leading the money in order to earn a profit, banking these days include credit and debit cards for a safer way to keep your money from people stealing it and it protects you from identity theft.

Savings

                                        Savings is when you save your money for later use, because people don't know what will happen in the future and you never know when you might be in need of money for emergency purposes, large financial problems, car breakdown etc. Saving money could also be used to buy things you could not afford with your monthly payment.

1/13/14 Learning Reflection

                              Today we did a test on the words citation, Page title, heading , header, footer, superscript, works cited, sources, and we had to locate where they would be on an actual MLA Style Report