During week 7 of class we covered Chapter 8, Vehicle and Major Purchases, and Chapter 9, Buying a Home. Both of these chapters were very interesting and pertain to my life at the moment. We also had a guest speaker on Thursday of this week. The guest speaker was Emily Hester from the Student Financial Management Center (SFMC) at LSU. Ms. Hester spoke about how the SFMC helps educate LSU students about being financially responsible. Before the speaker's presentation, I was not aware that LSU had such a center. I think it is a great idea since so many young adults need help with financial matters. As I mentioned in an earlier post my husband and I are currently considering buying a vehicle. Also we own a home, but in the next few years we are hoping to purchase a larger house. We have outgrown the current one. One of the vehicle buying suggestions was to negotiate every aspect of the purchase separately, such as the new car price, the trade-in of the old vehicle, and the loan interest rate. I have not done this is the past, but I plan to do this in the future. It makes good since. The chapter on buying a home discussed different types of housing options, such as houses, cooperatives, condos, PUDs, and apartments. A person will choose the option that he or she can afford, as well as the one that fits his lifestyle. We went over different types of mortgages including some that may not be good for our finances. We discussed the type of mortgages that helped cause the 2008 housing bubble to pop. The two chapters were very practical.
The article that I choose for week 7 was "Your Gender Can Directly Affect Your Credit Card Debt" from www.fpanet.org. The article suggested that women with low levels of financial literacy have more credit card debt than men with low levels of financial literacy. The article made several suggests for people to lower their debt. It stated to shop for credit cards, avoid department store plans, understand your credit limit, and pay on time with more than the minimum amounts. It also stated, "If you can't afford it, don't buy it". I feel this is an excellent point and totally agree.
The article that I choose for week 7 was "Your Gender Can Directly Affect Your Credit Card Debt" from www.fpanet.org. The article suggested that women with low levels of financial literacy have more credit card debt than men with low levels of financial literacy. The article made several suggests for people to lower their debt. It stated to shop for credit cards, avoid department store plans, understand your credit limit, and pay on time with more than the minimum amounts. It also stated, "If you can't afford it, don't buy it". I feel this is an excellent point and totally agree.
| your_gender_can_directly_affect_your_credit_card_debt.pdf |
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