Life Skills Business
These are some of the things I've learned in this class.
What will affect my future.
3 things I've learned in this class.
-The second thing that I've learned is how to fill out a check. I never knew how checks worked, or what you write on them until this class. Now I know all about where everything goes, and about how a check isn't valid until you sign it. It's also helpful that there is an area on the check for a memo, because it helps you remember why you wrote the check. The legal amount is also different from the written amount. The written value is the value of the check written in numbers, while the legal amount is the value of the check written in words. After you write the legal or written amount, if there's extra space on the line, you should draw a line so that no one can change the value of your check. This is important so that no one can take your money. Learning about how to fill out a check is going to be very beneficial.
-The third thing I learned about is interest. Interest is the initial amount of money paid to the bank for borrowing. When you take out a loan, the bank will make you pay interest. Your interest rate depends on your credit score. The higher your credit score is, the lower your interest rate is. This also shows how important having a good credit score is. If you have a credit card bill that you didn't pay on time, they will make you pay interest. This means that when you buy something expensive, like a car, when you take out a loan and begin paying for the car, you will be paying for more than just what the car was being sold at. You have to pay for the car, and the interest on the money you used to buy it. Interest is how the bank makes money.