Reflective Blogging: A Change for Once

This week in economics the class discussed credit cards and the interest debts may accrue. We were also taught two particular formulas for interest in banking--the good kind. Simple interest builds more slowly and it is found by multiplying principle value by the rate and the time. Compounding has to deal with intervals in a year which is riskier for your money but has potential to grant more money. It is found by multiplying the principle by (one minus the rated divided by the times in a year it is compounded which is then raised to the product of the times in a year the money is compounded and the time interval chosen. Mrs. Weser shared her tale of the struggle of buying too many credit cards and the 7 years the debt had to be re-payed, and enforced a very valuable lesson. 

I really like the attention to debt and how to avoid it that the class has provided. It is no doubt something that I will be using in my life time and money management is vital in this day and age. I have already been earning interest in my savings account and receiving notifications of such. Writing a check will be useful as well, and I personally am glad I will know what to do (even if it means paying bills for chairs). 

To address the elephant in the room, I decided this week to try the other form of blog post instead of my usual current events before the school year is over. Let me know what you think and I might try it again in the weeks remaining.

Keep on being exquisite you exquisite young people!

[this blog post has been brought to you by GIIERU MFG. copyright 2014 all rights reserved] 

Current Events: What not to buy

An article was released by our very own MarketWatch--written by Anna Andriotis-- about the top ten things not to by. Number ten on the list was digital camera. This is due to demand falling, mainly because smartphones and other means have replaced this once necessity. Nine was not to buy credit cards with points or miles program. Much like the Spring Break assignment, gifts that come with a card should not be reason to buy them; rates for the travel points have gone up over the years and new buyers will simply lose money over this. Eight also relevant to travel, was to not buy seats with extra legroom in coach; for the same price one of you fine people could upgrade to business class, for reasons you obviously should. Extra legroom on coach means a seat by an exit in most cases. Seven is one I do not quite agree with, but is desktop and laptop computers. She mentions how tablets can perform the same fuctions as a PC, which is not true because PC's are expandable; she also mentions the price in the article comparing ipads to macbooks and imacs but honestly- all macs are expensive- a top line microsoft pc, with gaming and other high-memory tasks, can be built for $500; so for this one, I say ridiculous. Six is two-year phone contracts because of risk of needing to change the phone and many fine-print fees. Five is hotel rooms. Rates for these puppies are also climbing so a better alternative is to rent homes or apartments for way less, and often in good condition. Four was DVD and blue-ray players, which is reasonable assuming many modern technologies can perform the same function (like PC's >:|). Three was GPS devices, as smartphones have replaced those as well. Two was ditching landline service and just use celluloid which I suppose is ok but it's nice to have a system in a house where multiple people are able to hear the call and answer but none the less; number one: cable tv. I mean, I obviously don't have much jurisdiction in this area but I suppose with internet becoming so usefull watching shows it very well may be gone in our future.
Obviously this relates to Econ but supply, demand, and sales pertaining to YOUR money so this is Dan from GIIERU signing out.