...Americans use credit cards? 8/29/10 University Composition and Communication II Lowrie Fawley Axia College of University of Phoenix Why would a person want to induce stress, have financial burdens, and pay more out-of-pocket expense just for using a credit card? There is no need to strap your self into the continuous game that credit card companies like to play. This is why it is best to not use credit cards for any reason what so ever. According to a study published in the journal Social Science and Medicine (February 2000), found that people with a higher level of debt were more likely to have higher stress levels than that of someone who had lower levels of debt. What this means is that people with the money to spend will spend it and not worry about the consequences until a later date. The stress hits after receiving their statement and often leads to depression related to not having the money to pay or having to pay out more money in interest fees. When you worry about money, it affects every aspect of your life. From doing daily chores to even going to work, it can place a burden on your family and quality of life. Furthermore, if you do not manage the stress correctly, you may end up with chronic depression, anxiety attacks, or even contemplate suicide. This stress is most common in students and graduates whom have a higher debt ratio than any other person. Having credit cards fills your life with even more strain as you have to worry about paying the bill on...
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...The U.S. debt and its budget surplus and deficit(s) has been an on-going discussion way back from the foundation of America. America started borrowing money during the American Revolution. It wasn't officially considered a national debt until the Independence and the declaration of the U.S. Constitution. By the year of 1835, they were completely debt-free due to several budget surpluses and an effective budget planning. However, the budget surplus didn't last that long as the borrowing of money started again right after a year. The U.S. borrows money from Federal Reserve, U.S. Individuals and Institutions, Social Security Trust Fund, and other foreign nations and governments by issuing bonds for sale through the U.S. Treasury. Throughout history, some of the key reasons for the accumulation of the national debt was due to wars such as; WWI, WWII, Cold War, etc., drastic tax-cuts, The Great Depression, economic recessions, military and defence spending, welfare programs, bail-outs of big corporations, etc. America is forced to borrow money every time when their expenses are more than their revenue. This borrowing of money ultimately puts a debt on the U.S. and its citizens. The majority of the U.S. debt is owned by Federal Reserve and other U.S. individuals and institutions like; Social Security Fund, etc. whereas the second largest holder of the U.S. debt is China followed by Japan. Both China and Japan own 1.1+ trillion of U.S. debt each. The major borrowing of the debt started...
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...suggest that debt has become the main obstacle to the underdeveloped countries, Rostow believes that for development to work, countries need to go through a certain process. Rostow argues that development should be seen as an evolutionary process in which countries progress ladder of five stages, stage one being at the bottom, i.e. societies which rely on subsidence farming and stage five being at the ultimate stage of development. However there are many countries which are not progressing naturally up this ladder of development, Item A tells us ‘all this was beyond the financial capacity of such countries and as a result a mountain of debt was built up as they were encouraged to catch up with the West’. This could be giving us the idea that in fact, these countries are being pushed into ‘catching up with the west’ getting themselves into debt which they can’t pay back, which is preventing them from moving their way up the ladder. This is the case for many countries with the exception to Tiger countries, many of these underdeveloped countries are remaining at stage one; this essay will assess the possible reasons for this lack of development. Many sociologists will suggest that the lack of development is because of the increase of debt. In 1980, the developing world owed the West $600 billion; however, by 1998 this had increased to $2.2 trillion. This is showing how much the developing world really was in debt. There are numerous reasons dependency theorists argue to as why the debt...
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...lot of people will tell you it’s just what you have to do but it’s not. If you take out student loan debt there is a good chance you’ll be paying on it long after you graduate. Thats why its a good idea to try and pay for it other ways. Over all people think debt is okay because it’s getting you a higher education, but it’s not worth going into debt. Tuition has become so expensive it seems nearly impossible to pay for it without going into debt, but there are ways to make it happen. Such as starting early, save as much as you can whenever you can, save the money you get from christmases and...
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...tend to drop out of school and go straight into a paying job. DEBTS According to statistics the percentage of student’s loan debt in the united states keeps increasing yearly, student debt in the united states exceeded 1.5 trillion in 2016.Students leave college with an average of 30,000 - 150,000 worth of debt. Some parents and students end up being financially stressed....
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...these files. Note: In assignments, show all calculations to 4 decimal places. Lesson 1: Assignment Problems 1.1 | Households make four kinds of economic decisions (textbook, pp. 4–5). Suppose you have two households with the same income. Household A has one income earner and Household B has two income earners. How would the four types of economic decisions differ between these two otherwise identical households?(8 marks)Because the households can differ, household A could potentially be a single person, while household B could be a large family. Because of this the households could have different views on asset allocation, and liabilities could be much greater in household B because there is a higher likelihood that there is more people included in this household. Consumption and savings could differ in the sense that household A may want to spend or save to the extreme, and seeing as there is only one income there is no one else to answer to, whereas in household B there is at least two income earners, so therefore they must communicate and may have different views on their savings and consumption so they will probably be more of a saving household than household A. Investment decisions will differ as well. Household A will more than likely be quicker to make investment decisions because they is no one to communicate with, therefore they may be more of a risk taker and could be more likely to make poor investment opportunities. Household B would have to communicate better...
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...planning to become Einstein or at least follow his steps, you don't need any more math past Algebra. Therefore, many don't realize that you don't have to be a banker or a broker to learn about economics. Economics can be easily related to a language. Think about it, if one lives in the United States they need to know English, if one lives in Russia they need to know Russian. Economics is the same way; however it is the same for everybody. “Why do we need economics and what good does it do?” we might ask. Well, let's start with some history, what is economics? The word economics comes from a Greek language in which: oikos means house and nomos means custom or law. What we see here is a simple fact of "rules of the house(hold)". If economics is translated as the rules of the household, than why do we have many different types? Does it all apply to our household? Why is there microeconomics as well as macroeconomics; positive economics and normative economics? Finally, mainstream economics and heterodox economics? All these question just don't make sense, why so many? For all the rules in the English language, there is a reason, as well as the reason for all the words in Russian language. The main point of economics is that "nobody will take care of you but yourself". This takes me to one of the jokes about economics. Two men encountered a hungry bear. One turned to run. -"It's hopeless," the other told him, "you can't outrun a bear." -"No," he replied "But I might be able to outrun...
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...bankruptcy? Why are these factors important? Chapter 7 and Chapter 13 bankruptcies are full of advantages and disadvantages, but at the same time they are very different. Without knowing these differences a person could lose many things from money to possessions. Chapter 7 bankruptcy can wipe out most of ones debts, but certainly not all of them. Certain kinds of debt are not covered by the terms of Chapter 7. Some examples of debts that must be paid after filing for bankruptcy would include child support, alimony, income taxes and penalties, student loans, and court ordered damages due to unfair and unrighteous acts. Bankruptcy courts handle your financial problems until the case ends. A court assumes control of all ones debts that are owed and all property that is not exempted. A trustee is appointed to be in charge of your debt. The trustee collects property that can be taken and sells it to repay some creditors. That property can be surrendered to the trustee, which can agree to pay the market value or one may choose to trade exempt property with nonexempt property. A small number of people actually lose property when filing bankruptcy. If a person changes their mind about filing for bankruptcy, they may ask the court to dismiss the case. At the end of the process, the court would discharge most of the debts and one is unable to file for another Chapter 7 bankruptcy for at least another six years. On the other hand, Chapter 13 bankruptcy is mostly used to make up any...
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...this chapter, we will learn how discre- York City’s Staten Island to the borough of tionary fiscal policy fits into the model of Brooklyn, carries more than 300,000 cars short-run fluctuations we developed in each day. Chapter 10. We’ll see how deliberate In Japan, stories like this are common. During the 1990s the Japanese government What you will learn in this chapter: changes in government spending and tax policy affect real GDP. We’ll also see how ® What fiscal policy is and why it is an important tool in managing economic fluctuations ® Which policies constitute an expansionary fiscal policy and which constitute a contractionary fiscal policy ® Why fiscal policy has a multiplier effect and how this effect is influenced by automatic stabilizers ® How to measure the government budget balance and how it is affected by economic fluctuations ® Why a large public debt may be a cause for concern ® Why implicit liabilities of the government are also a cause for concern spent around $1.4 trillion on...
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...Student Debt? Not Likely Ms. Robin Wilson titled her article on student debt, A Lifetime of Student Debt? Not Likely. She believes in general students do not have to be in debt their entire adult lives, if only they are smart with their money. Ms. Wilson uses three persuasion appeals to prove this: ethos, pathos, and logos. Ethos is the appeal to credibilty (Roundy n.p) She is letting the reader know the pros and cons of opening student loans. Allowing both sides to be told shows her consideration for both. Ms. Wilson proves her sources are thrustworthy and knowledgeable, along with being a fair reporter. Before each source's comment or fact is presented she gives the reader both their name and job description, as she did with Mr. McPherson, “Michael S. McPherson, an economist and preseident of the Spencer Foundation (Wilson 257). This way she gvies the reader the choice whether you agree or disagree. Althrough Ms.Wilson uses ethos, that is not all, she also uses pathos. Paths is the emotional appeal, how does the reader feel and why do they feel that way? (Roundy n.p). Word appeal comes into play, Ms. Wilson uses words to grab the reader and have them feel the same as her source. As...
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...for this course and is not a replication of a paper submitted for another course. ” Mateo Salazar Abstract The main question about this article that we must ask ourselves is that in what way or how does the European financial crisis affects us. In this article critique we are going to explore and find out how and why is this article relevant to the course and why did I choose it. This article by Martin Feldstein talks about the European economic crisis and how this crisis was foretold long time ago. It analysis the countries involved in this crisis and how did they got there in the first place and how each one is affected by this anomaly. The critique shows us what caused the crisis and what is being done to stop this economic crunch, we will also review what countries are involved, what caused the crisis, what solutions are presented and find out the larger implications and think why and how this will affects people in America. Lately every day seems to bring chaotic news about the way our economy is doing. However, the most shocking or the one that everybody is scared of, would be the Euro economic failure in certain countries due to large amount of debt they found themselves in, this critique will outline and explain the foundation of it, and how the effects of this problem impacts on other world economies that are omitted in this article explaining what causes and affects it might bring to the U.S. The crisis is mainly focused around five countries: Greece, Italy...
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...Towards achieving its stated aims, FLAC produces policy papers on relevant issues to ensure that government, decision-makers and other NGOs are aware of developments that may affect the lives of people in Ireland. These developments may be legislative, government policy-related or purely practice-oriented. FLAC may make recommendations to a variety of bodies drawing on its legal expertise and bringing in a social inclusion perspective. You can download/read FLAC’s policy papers at http://www.flac.ie/publications/policy.html For more information, contact us at FLAC, 13 Lower Dorset Street, Dublin 1 T: 1890 350250 / 01 874 5690 | E: info@flac.ie | W: www.flac.ie FLAC: Submission on Personal Insolvency Bill 2012 (September 2012) ___________________________________________________________________________________________ Please note: This submission is made for the purposes of the beginning of Committee Stage of the deliberations on the Personal Insolvency Bill. However, it is still very much a work-in-progress and FLAC intends to make further observations on the Bill as it proceeds through the parliamentary process and as its thinking on the legislation develops and evolves. Please see too our submission on the original heads of the Bill when the scheme was published at the end of January 2012 at www.flac.ie. 1. Introduction & overview Despite some obvious substantive flaws and a considerable lack of detail in terms of proposed structures and operating systems, FLAC is...
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...How People Fall Into Debt Unfortunately in today’s demanding society, many find themselves racking up thousands of dollars of debt. There are many different reasons as to why people wind up in this mentally and finically stressful position. While some people are just fiscally irresponsible and lack personal discipline; others that are much more responsible aren’t immune to debt, they can be hit with an unexpected medical bill or job loss. Living outside of ones pay check and unexpected medical incidents are some of the more common way people fall into debt. Credit cards are attractive for many people because they don’t have to physically carry money with them; but they are also dangerous because of interest rates that the banks charge. These rates can vary from bank to bank but in addition to interest rates if you can’t make your payment deadline the banks will charge you extra for a late fee which just makes the problem worse. For example my friend Chris learned this the hard way when he purchased a pretty pricey mountain bike using his credit card. It took Chris six months to pay the bike off and he winded up pay thirty percent of the bikes total price back just as interest. Needless to say this made Chris much more cautious about using his credit card and when he does use he pays it off as fast as he can to prevent the interest from racking up. However not everyone learns this lesson, many times the interest compounds and people can’t pay back the interest let alone the...
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...Is college worth the money? Does one need college to be successful in life? With changing in the world and increasing student loan debts many people believe college is too expensive. A Lot of people think that they need college to make it in life.Which that can be true and false. It all depends on the person. A why is needed when you have a why, that the push that's what can be the break throw. Over the time many people have been told no there whole life. For a person like that, they have a why becomes they never had anything. So that one time they get an opportunity they take full advantage. That's the push that a person without a college education to make it in life. There are a lot of great people that did great people that did a great...
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...Essay Big Weddings Are an Obscene Waist of Money Everybody wants a dream wedding just like their favorite celebrities, but is it really necessary? People spend their life saving just one day, some even go in debt. In present times, marriages do not last long and often end up in divorce. Most people even go to city to get married for a much cheaper alternative. I think your relationship should be based on how big your wedding is. A big wedding is nice, you would probably remember for the rest of your life. Not only because it was considered to be the best day of your life but how extravagant it was. First off, you have to get dresses, tuxes, flowers, catering, live bands or dj, and location. I think just buying a ring is expensive enough. Let's not forget having a nice honey moon. During the 18th century salve trade, Africans got married by jumping a broom and still love get each other. A Marriage should base on love and loyalty, but it's not always guarantee how long you'll last. According to the U.S. census bureau, 41% of first time marriages end in divorce. They often end up very messy involving lawyer, children custody battles and alimony. We see celebrities wedding want to live the dream. They board cast their weddings and get paid commercial wise. It's different for an average person...
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