Learning reflection on Consumer Fraud

Consumer Fraud
Consumer fraud is the defrauding of a consumer of various products and services.

A social security number is a 9 digit number issued TO U.S citizens and permanent
resident that is used as a primary form of identification by the government.

The truth in lending act requires that individuals and businesses extending
credit, like your credit card company,reveal all the terms and costs that are attached to it. Fair credit reporting act requires correct use of credit reports.

I will keep my social security card safe.

I will contact my bank when there is any misunderstanding.

And i will use fair credit report.

i will avoid any abusive practice from debt collectors.

Learning Reflection on Investing

Investing

Investing means putting down money to gain interest.

When you invest,you avoid gain more money if the company you invested your in is growing.

Capital gain is the amount of money you gain from an investment hence the name

Bonds is basically a loan except that in this case, you're the lender

Mutual fund is collection of investment that you can buy as a single package, rather than purchasing individual stocks, bonds, and other investment yourself

A stock is a share of ownership in a company.

Appreciation in value is the key to any investment.

I will invest money into a company that will make sure there is no risk with my money.

I will also like to get me a stock in a developing company.

Making bonds with larger companies will be a pleasure to me.

Taxes and Insurance.

Taxes are given on products that you buy and insurance are paid on things that you spoiled or use.¨Sale tax is usually a percentage of the price of what you purchase.
¨State income tax are charged in addition to federal taxes, though requirements for state income vary from state to state.
¨Capital gain tax is a tax charged on the profit made on sale of something that was purchased at lower price.
¨Property tax are tax an owner pays on the value of any owned property including land, building or houses,

¨¨I will get a good coverage in order to have good protection.
¨At my youth age, I will prefer a less premium.
¨I will like to own my own house, lands and cars.

Renting vs.Owning

Renting means to rent something and owning means to own something or the product belongs to you.
A mortgage is a type of loan that is used to finance a purchase of real estate.Fixed Rate =Interest fixed for the period of the loan usually 15 or 30 years.Balloon payment loan has low interest rates with big payment at the end.I will always make my mortgage paymentI will buy instead of leasing.

Learning Reflection Financing Higher Education 4/7/14

Financing Higher Education

It means going to college and getting a college degree or furthering your level of  educational.

•FAFSA=  is the free application for federal student aid. It is the main form student use to apply for federal education grants and loans.

•Private Student Loans are financed by private companies rather than the government.

•Grants and scholarship are given to students to help pay for their education and do  not have to be  repaid.

•Federal Students Loans are  offered directly to students by the government.

I will study very hard to get a scholarship

I will avoid wasted of money when I am at college

• I will not take a private loan

Learning reflection on Credit Score.4/01/14

Credit Score

Credit score is a numerical rating of your credit worthiness how likely you are to pay off your debts

•A credit report is  record  details  a persons credit history.

FICO=is an acronym for fair Isaac corporation

•Credit bureaus are companies that collect credit information about individuals.

Credit history is a record of a person borrowing and paying activity.

Saving 3/27/14

• I learned that,Savings helps you keep your money safe.

•You save money for future use or not to waste money

When you save your  money, you get an interest

Payments,interest rates and Credit Cards

•Interest- Is the fee you pay to be able to  borrow money. An interest rate is the percent age of interest you either make or pay on a principal.

•When you use credit cards, you will have to pay interest.

•When you pay debit, you will receive a rescit

•Interest- Is the fee you pay to be able to  borrow money. An interest rate is the percent age of interest you either make or pay on a principal.

•When you use credit cards, you will have to pay interest.

•When you pay debit, you will receive a receipt

Banking 3/27/14

•Payday lenders offers small cash loans.

•The federal reserve is the central banking system of the united states.

•A retail bank typically deals directly with individual costumers but  may also serve business as well.

•Commercial banks deal primarily with deposit and loans from corporations or large businesses but may also function as retail banks and offer services to individual.

•Saving and loans are banks that specialize in accepting saving deposits and making mortgage loans, but may offer other services such commercial loans and retail checking

•Credit union is a cooperative bank, meaning its privately owned and controlled by its member.