Assignment:
Because many people spend more than they make on a regular basis, they often use credit cards to make routine daily purchases. As a result, the amount they owe on credit cards increases each month and there is no money left to begin a savings or investment program. This exercise will help you to understand (1) how you manage your credit cards and (2) what steps you can take to improve your personal finances.
Q1. How many credit cards do you have?
Q2. Based on the information on your monthly credit-card statements, what types of credit-card purchases do you make?
Q3. Do you pay your balance in full each month or make minimum payments on your credit cards?
Q4. Most experts recommend that you have one or two credit cards that you use only if you are in an emergency situation. The experts also recommend that you avoid using credit cards to make inexpensive purchases on a daily basis. Finally, the experts recommend that you pay your credit-card balance in full each month. Based on the preceding information, what steps can you take to better manage your finances?
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.