The Credit Trap

National Guard Family Program
Soldier with child riding piggyback Introduction to Personal Finance

An Overview for State Family Program Directors, Wing Family Program Coordinators, and Families.

 

Introduction

Evaluating Your Situation

Budgeting & Debt Management

Goals & Plans

Insurance & Disability Planning

Investment Planning

Education Planning

Retirement Planning

Estate Planning

 

 

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BUDGETING AND DEBT MANAGEMENT

 

2.

Introduction

 

2.1

Why Do We Acquire Debt?

2.2

Debt Can Become a Habit

2.3

The Reality of Borrowing

2.4

The Credit Trap

  

2.4.1

Fees

2.4.2

Rates

2.4.3

Types of interest

2.5

Eliminate and Avoid Debt

2.6

Trimming Your Budget

2.7

Learning Check

 

2.4 The Credit Trap

Let’s get out of the Credit Trap

Are your credit cards out of control?

Do you see an opportunity to lower your mortgage rate, but don’t

know where to start?

Debt has a way of twisting us in knots, but we don’t have

to stay in the trap.

The key to getting a better credit card deal is figuring out how much

a given card really costs you.

Caution: If you have a Government Credit Card it is for OFFICIAL use

only – don’t use it for personal purchases.

The next section of your Personal Finance course has information

and tips that will help you put it all together.

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