Family Management Essay

1. What information in the documentary more or less surprised you?The thing that most surprised me was the amount of reliance loosens that a ho maphold. I am currently idiomed appear by having mavin reference book card, I could non even imagine multiplying that stress by 8. I understand that adults with families need credence cards to military service buy necessities for their families, still I think that if you ar going to adjourn on the responsibilities of owning a point of reference card, you should nock sure you atomic number 18 subject to pass more then just the minimum amount. That is another thing that surprised me, the fact that 35 million pile only fee the minimum amount due is re eithery shocking because citizenry should be well certain by now how much money they argon rattling loosing by doing that.2. Do you think the government should hire a role in regulating both who can get assent cards and what interest and fees consumers should pay? If so, who should be the regulators? Who would benefit from such formula? Who would lose? Explain.I dont think the government should have a role in regulating who can get a credit card or the interest rate or fees. When deal sign up for a credit card, they atomic number 18 well aw are of the responsibility that they are taking on. Everyone knows their limit and how much interest they are charged, so if you cant afford to pay something off on while you should not buy it. I dont think masses should blame the jargons if they are being charged interest on their purchases it is their responsibility to be able to keep track of their income and their spending. Even though the bank is fashioning money off of volume who do not pay their pinnacles on sequence, they are the ones lending money to people and they need to make some profit to, wish well every other business out there.3. How, according to the four normal consumers in the documentary, does owning a credit card or credit cards a ffect purchasing decisions?Owning a credit card or multiple credit cards give the delusion of having more money then you actually do. The credit card makes people think that nonrecreational it later isnt a big deal, when actually it buries people in huge sums of debt. Buying something for $500 and only making minimum payments for it can actually end up being reprize the price (depending on your interest rate). I was brought up thinking that credit cards are for emergencies and emergencies only, but now that I have one I find myself tempted to by things that are not even fuddled to a necessity, and because of this piece of plastic, I excessively find that I prevail on _or_ upon myself not to worry and that I will pay it off later. It affects the purchasing decision by giving the illusion of money that most people dont have, people have a hard time distinguishing the difference of their losss and their needs. Since there is an option to do a minimum payment, the legal age of people are taking that route.4. Who loses and gains the most from credit card companies policies?The people who gain from credit card companies are the dead shell, also known as the people who pay off their entire credit card bill at the end of the month. The reason that they are the gainers is because they are the ones who never have to pay interest, therefore the credit card companies are not making any money off of them and are fundamentally just lending money to these people. The people that pay of their entire bill at the end of the month not only dont have to pay interest, but they also gain benefits and good credit rates, depending on what that bank offers. The people that lose from credit cards are the people that only make the minimum payments. The downfall with only paying the minimum payments is that they are gaining interest of the balance spent, so they are unceasingly loosing money. They may think that they are saving money because they are not spending a lot on paym ents, but in the colossal run they are paying double the amount.5. Has the documentary influenced how you might use credit cards in the future? Explain (Frontline, 2008).Definitely, Ive endlessly thought I had a good concept on the whole credit card situation, but looking at the video has do me realize how much money I am actually loosing. Ive always paid more then the minimum payment but still, I would much rather be one of the dead beats. creation in school makes that next to impossible though since I cannot work as much as Id like to. This video makes me more conscious of the purchases that I make and it also makes me want to pay off my credit card off immediately Being a student has put me into a lot of debt, I expect that once I have a career in buttocks I will be able to pay off all of my debts.