# Unit 7 discussion – reflection on financial health

Complete the two financial health activities (The True Cost of a New Car and  The True Cost of Credit Card Use) presented in Unit 7 Topic “Financial Health” related to spending money you do not have.

• Share your experience with “The True Cost of a New Car” activity with your peers
• Change the size of the loan, years to pay it back, and the interest rate three (3) to four (4) times.
• Start with the lowest loan amount you might need for your new care and increase by \$5000 to \$10000 each turn.
• Start with a 3% loan (entered as .03) and increase by one (1) or two (2) percent each turn.
• In each case choose between 5 and 7 years to pay it back.
• Describe one of the monthly payments you would have to make based on your selections.
• Loan amount?
• Interest rate?
• Years to pay it back?
• Monthly payment?
• Total car cost?
• Discuss the potential impact a car payment of that size might have on your monthly budget.
• Describe the other monthly expenses you would have to remove or reduce to make your payments.
• Why Is or isn’t the car worth the sacrifices you might have to make given the size of the monthly payments?
• What other options do you have to avoid taking out a car loan?
• Share your experience with ” The True Cost of Credit Card Use” activity with your peers
• Consider the following scenario:
• You spend an extra \$50 a month using a credit card for the first year after graduation to make ends meet.
• The interest rate charged by the credit card company is 18%.
• The minimum payment you are required to send each month is \$20.
• Now consider the real cost of that \$50 dollars a month by the end of that first year provided to you in the exercise.
• How might the continued use of a credit card to fund an extra \$50 of spending per month affect your long-term financial health?
• Describe two ways you could avoid the long-term consequences of spending more than you have on a regular basis.

Please be sure to validate your opinions and ideas with citations and references in APA format.

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.