FINANCIAL ADVICE LESSONS
learn about many things like borrowing
Things needed to know
credit-is the ability of a consumer to obtain goods or services before payment based on the trust that payment will be made in the future
simple interest- a quick method of calculating the interest charge on a loan
tips about borrowing
1. if you have good credit score than you can borrow 2. have to understand your interest rate 3. understand the terms of your loan 4. understand the application procces
principle
A sum of money lent or invested on which interest is paid
rate
a fixed paid or charged for something
time
how long it will take
the 5'c of credit
1.capacity 2.capital 3.collateral 4.conditions 5.character
20-10 rule
helps you figure out how much credit you van afford