Period 1 November 1, 2013
At the 2nd Annual financial educational summit, my classmates and I learned all about business financing, debts, credit cards, future spending, and so much more about the financial world. At the summit, I learned much more than I would in just any normal classroom, I learned how people actually manage money in the real world. I never knew how money saving and paying debts had so much to do with your life and how it functions, it even affects you for up to seven years!
Debts are one of the topics we discussed at this summit, and I found debts the most interesting because we pretty much need them to get through school, but we have to end up paying them weather you can or not. If you don’t they have severe consequences, like staying on your credit report for at least seven years. This in turn will prevent you from being granted another loan or even to be trusted with mortgage or other important financial opportunities.
Another topic I found extremely interesting was the credit card. Credit cards are so beneficial to everyday use, especially if you are busy and can’t spare time to go out and buy clothes or other various items, even groceries! Yet, credit cards are crafty, well their advertisers are, for example; if someone wanted or even needed a credit card they would go to a bank, ideally one they are already in business with and ask about a credit card and what responsibilities come along with the all powerful credit card. The rules would be explained very thoroughly, the customer would understand and mind you the card is free, just maybe…