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!

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