Reflection

This Thursday in Econ we voted on what insurance is the most important to us.  Groups of four presented information on Auto, Health, Life, Homeowners, and Disability insurance.  Based on the voting of of the class it seems like we think Health Insurance is the most important.  I agree with the majority opinion that it is important.  Throughout your life you could end up spending so much more money without healthcare.  Doctor's visits are important.

This is a current event based on what we've been up to in class

This is the first year I recall "Black Friday" Sales starting days before Thanksgiving.  Its kind of interesting that people go from being thankful for what they do have on Thanksgiving Day to tearing each other apart the next day to get the good deals.  I read an article that was made to inform the shoppers of the negative effects of the credit card and why they need to be used wisely.  A statistic shows that the average debt of Americans in credit card debt in the year 2013 is over $7,000.  These debts are what cause the credit card companies to do so well.  The thought of getting a object now and having to worry about the cost later really appeals to consumers.  People who pay the minimum payment will result in paying over double the original price.  Financial guru Jean Chatsky advises, “Minimum payments are a credit-card company’s way of getting you to carry a single debt almost forever. If you, like the average American family, have $8,000 in card debt at a typical rate of 13.97 percent, and you pay only the minimum 2.2 percent of the balance required each month, it will take you 30 years to retire that debt and cost about $10,000 in interest.”  (Qtd. "Credit Card Debt...").  This segment of personal finance helped me to realize why my parents have told not to get a credit card because it isn't necessary.  
Young, Sherry. "Sherry Young: Credit Card Debt Can Diminish the Joy of the Season."DeseretNews.com. N.p., 05 Dec. 2013. Web. 05 Dec. 2013. <http://www.deseretnews.com/article/865591816/Credit-card-debt-can-diminish-the-joy-of-the-season.html?scrlybrkr=d50413d5>.