Economics

Do you spend a lot of money on small, day-to-day items such as coffee, fast food, and candy, or do you prefer to save up your money for larger purchases? Either way, wise buying decisions will help you get the most out of the products you buy now and will enable you to meet your long-term financial goals. In this post, you’ll learn how to spend—or not spend—your income wisely.

Most Americans are concerned with the reliability of the products and services they use. Many private groups and government agencies work to ensure the well-being of consumers. Consumers themselves, however, must be well informed about potential issues with products and services they purchase, and they must be proactive in their buying habits. In this section, you’ll read more about consumer rights and responsibilities.

As with every decision in life, when you decide to buy a car, you are going to make a trade-off that involves an opportunity cost. You will have to decide what type of vehicle to buy, whether to buy new or used, and whether gas efficiency or engine size is more important to you, for example. In this section, you will learn about some of the important things to consider when shopping for a car.

To protect consumers, the federal and state governments regulate the credit industry. Some states have set a maximum on the interest rates charged for certain types of credit. The federal government has also passed laws designed to increase the flow of credit information to consumers.

In this section, you’ll learn about these laws and how they protect consumers from unfair credit practices.

How do you apply for credit? What factors determine whether or not you will be approved for credit? Perhaps more importantly, how can you dig yourself out of debt if your payments are more than you can handle? In this section, you’ll learn what makes a person eligible for credit. You’ll also learn ways to handle your debts before they get out of control.