The Complete Guide to Personal Finance For Teenagers and College Students - Revised 2nd Edition by Unknown

Author:Unknown
Language: eng
Format: epub
Published: 2016-11-01T20:42:53+00:00

If you get a little confused when reading about interest rates, discounts, fees, and how they all interact with each other, don’t worry; it can all be summed up in this simple statement: Don’t buy things you can’t afford. Don’t feel like you’re weird if you have strong feelings about wanting nice things — most people have these same desires. Even adults have these feelings. When it comes to your personal finances, though, you need to realize that instant credit can be an instant problem. Yes, you can get your hands on the things you want to have without having to shell out any money initially, but what happens when your bills start coming in? In fact, there are some people who will buy something with a credit card, use that item up, and discard it — and then still wind up paying on that same purchase long after they don’t even have the item anymore. Do you really want to take months (or perhaps years) to pay for a shirt you wore once and then gave away? Doesn’t it seem a little ridiculous to have to keep making payments for something that you don’t even own anymore? This is what happens when you use credit to buy the things you want, instead of buying with cash or a debit card.

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