Conserving Money by Controlling It

A major pitfall in any financial plan is the temptation to spend more than you can afford, especially when credit is so easy to get. Because many credit-card issuers target college students and recent graduates with tempting offers appealing to the desire for financial independence, it is important that you arm yourself with a solid understanding of the financial costs entailed by credit cards. The same lessons apply equally to other loans, such as home mortgages, cars, and student financial aid.

Credit Cards: Keys to Satisfaction or Financial Handcuffs?

Although some credit cards don’t charge annual fees, all of them charge interest on unpaid (outstanding) balances. Figure AIII.6 reprints part of a page from ...

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