...Credit card is a payment card which user can borrow money for payment as a cash advance. Due to its convenience, more and more transactions are settled by credit cards and thus it became popular in recent years. However, the application of credit cards are much more easier nowadays especially for teenagers just over eighteen, therefore the problem of overspending with credit cards exists. If fact, there are three major reasons that lead to overspending of credit cards among teenagers. First of all, most teenagers don't know how to manage their own finance. A research report by Sallie Mae (2009,p2) shows that, there is a recommended 10% of income as a payment of debts for teenagers. However the research has investigated that there are 30% of income as debts payment in reality among teenagers which is $3173 US dollars on average. It also states that teenagers are mismanaging their credit cards by overspending with it and they are unable to pay for the debts in result. To conclude, teenagers just spend all or even more then they have with the help of their own credit cards, resulting in overspending and debts. Secondly, not knowing the serious consequences that bring by overspending among teenagers is also a major reason that cause overspending. A research report by Xiao, J.J & Tang, C.Y & Serido, J & Shim, S, (2011,p4) try to investigate factors that affecting risky borrowing behavior on over 2000 first-year student that have their own credit cards. The result...
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...The Dangers of Credit Cards Credit cards are an inevitable factor in growing up. Once you turn eighteen it all starts. You receive applications in the mail daily and commercials appear on television as well. This starts to spark an interest. So you say to yourself, "I think I'm responsible enough to get a credit card, I'll only use it for emergencies." Then you apply and it may take a couple times to finally be approved for one. This only makes it worse, of course, because you realize how long you have waited and now you get to buy anything you want, after all you don't have to pay it off for a month. The year is 2001, more and more teen's own credit cards and are already establishing their credit history. This essay will prove the truth about credit cards and what it's like to be in debt. It will also show the easy ways in which commercials and credit card companies can lure you into debt. Credit cards seem to be the easy way to purchase things. If you want a pair of pants but don't have the cash, you can just charge it. In reality, credit cards are not that easy. Once you are approved for a card the company gives you a credit limit, which is proportional to your income. On the average, an eighteen year old would have about a $250 limit. Which is good because it means teenagers cannot charge past the maximum amount of money. When a credit card is maxed out it means that you have hit the highest amount of money you can spend and it won't let you spend anymore...
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...Sattor Mehrubonsho Subject: ESL500 FR Instructor: Vidhisha Mannah-Singh Student # 058-206-145 Complications related to teenagers Today in the modern society, there are lots of problems, specially related to teenagers. For example, lack of education because of poverty, problems related to drugs, alcohols, teen pregnancy, overuse of modern technology for instance cell phone, computer, internet and social media, and overspending money by taking personal loans, overuse of credit card and overdraft in bank account. Major issue facing adolescence is related to overspending and iGeneration. iGeneration refer to anyone born after 1990s. `ì` represent technology used by children and adolescents like iPhone, iPad, iTunes and iPod. Technology is very important for iGeneration. Young people in the 1960s had fewer option regarding education, career opportunities and entertainment compare to young people today. There are so many negative impact of technology and government overspending of money on children. First of all, Technology cause many health related problems in teenagers such as weak eyesight, obesity due to less physical activity, decreased memory power by using digital technology and back pain(. Technological device influence social relationship because children addicted to gadgets and social media like Facebook, Twitter and Instagram. They don’t have time to sit with their parents and relatives....
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...decided that that pricing strategy three “a whole new plan” would be the most effective at positioning Virgin mobile as the brand for adolescents and young adults in the United States. This pricing strategy is easy for young consumers to understand and afford. The phones are at the most expensive $100, which a high school student can afford with half of their part-time job paycheck or a teenager who has an allowance can save up for a month and buy. It is also at a reasonable price for parents to spend on a phone if they were to purchase a handset as a gift or for their child’s safety as a way of instant communication between parent and child. This plan is also an excellent strategy because it throws out the idea of contracts, which 14-17 old teens cannot obtain without a parent to co-sign. This allows a teenager whose parent may not want them to have a cellular phone to get a cell phone or parents whom are not willing to jeopardize their credit or risk a high cell phone bill to fulfill their teenagers wants. This strategy will also be a great tool at building brand loyalty at a young age. If a teenager is given the freedom to have a cell phone at an early age by Virgin mobile and feels comfortable and trusting of the provider they will come back to the brand when their are of legal age to a contractual cell phone plan and opt out of it by choosing Virgin Mobile. Cell phones are a form of constantly innovated technology and young consumers are the opinion leader on these products and...
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...Most unnecessary purchases are bought with credit cards because they allow us to spend large amounts of money without actually having that money. You hear so many stories of people who max out multiple credit cards at a time and sadly they spend years struggling to pay them off to only begin the cycle once again. Most things we own have an almost nonexistent monetary value after only a few months of owning them. Things are updated so frequently that by the time you purchase your newest smartphone or notebook computer you are already six months behind in technology because it is a constant cycle of pushing out the best and the newest exclusive products to tempt consumers to update to those newer much more “improved” items. There is research that goes into the damaging effects caused by credit cards such is exemplified in Amy Novotney’s What’s behind American...
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...Brian Basic Should the Drinking age be reduced? The drinking age goes way back in history. Drinking began to be considered a problem around the 1900’s. When the government decided to pass the 18th amendment in 1919 alcohol became prohibited throughout the United States. This amendment forced all alcohol underground. The crime rate started to rise drastically throughout the country. The crime rate rose because people were buying and selling alcohol illegally. As a result of all the problems evolved, in 1923 the 23rd amendment repealed the 18th amendment abolishing the banning of alcohol from the United States. That established the modern drinking age, but the age was not the same in all of the states. The states government had the freedom of being able to assign what they felt were a good age for people to start the consumption of alcohol. Most of the states chose the age of twenty-one, but several states allowed the purchase of beer to be at eighteen. "The political failure of general Prohibition meant that American adults would increasingly focus justifications for alcohol policy less on the perils of drunkenness and more on the tenuous concept that adults can drink properly but youths cannot or should not" (Males 190). This lead to much discussion over the drinking age and the debate will go on for years to come. Throughout this debate, it lead to the National Minimum Drinking Age Act of 1984, which lowered the United States drinking age to eighteen. After this act...
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...Credit card usage and debts among teenagers Cummins, Haskell and Jenkins’s research study, “Financial Attitudes and Spending Habits of University Freshmen” published in 2011 in the journal Journal of Economics and Economic Education Research, examines two factors that are associated with college students’ credit card indebtedness. The author states that college students’ buying patterns and financial values affect their credit card indebtedness. Specifically, students with a tendency towards compulsive buying are more likely and those with effective financial management are less likely to hold credit card debts. Depth interview data further illustrate the contexts and causes of overusing credit cards as well as solutions for their debt problem. It sheds light on reasons why college students fall into credit card debt and suggests strategies for helping them use credit cards wisely. In the 2012 SCMP news article entitled, “Students responsible with dollars and Cents”, the writer gives statistical data collected from the survey which is conducted by the Tung Wah Group of Hospitals and the University of Hong Kong. A total of 802 undergraduate students respond to the survey. It indicates that majority of students possess one or more credit cards and one-third accumulate debt. Half of the respondents in this survey know little about credit knowledge which is significantly related to debt levels. The findings suggest that credit education is needed for students to help them make...
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...Internet Influence The internet is a network of computers that offers access and information. It is an advancement that holds numerous opportunities. The internet has transformed our lives and made our activities, communication and the technologies faster than ever before. Overall it has affected our lives as a whole and made our lives complex and stressful in every single aspect of human society. “The advent of the Internet has been one of the most exciting major events in the second half of the 20th century. The ancient dream of a scholar knows all things happening in the world without venturing outdoors have finally become a reality.” (Guangrong, 1998). So at the very beginning of this century people could understand the impact of the internet. With the period of time the internet became powerful because it contains the biggest resource of information in the entire world and people can instantly communicate with each other. The internet consists of rapid and smooth access to a boundless amount of information and it has both positive and negative aspects but this paper deals with the negative influences of the internet. The internet is one of the most used search tools on the Earth. Over uses of the internet separate people from the real world. People’s face to face or direct communication is decreasing. They communicate...
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...on gambling. It all started with one bet on a jai alai match. Within a few years he was cutting class and spending 2500 dollars a week on jai alai. He even began stealing money from his parents and the theme park where he worked. By sixteen, Michael G. was an addict.(Nesbit : 1998) Compulsive gambling is an issue that is affecting millions of teenagers nationwide. The thrill of winning money and the attention gained from doing so is enough to cause an addiction. And since gambling is illegal for people under the age of eighteen, it seems more alluring to those who are not of legal age to play. Teens seem to think that gambling is harmless fun, but they have no idea of the problems that can come from it. "As more teens are being drawn into the culture of chance, gambling is influencing American society in deep and unexpected ways."(Morgan : 1996) In teens, at least five percent are problem gamblers and at least nine percent are at risk of having problems.(Franey : 2005) Time Magazine stated that one eight of the country's problem gamblers were teenagers.(Henry : 2003) Yale University concluded that teenagers who gamble are three times more likely to become addicted to gambling then adults.(K.C. : 2005) Also in recent years, researchers have found that compulsive gambling has been closely associated with...
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...Computer Crime Advances in telecommunications and in computer technology have brought us to the information revolution. The rapid advancement of the telephone, cable, satellite and computer networks, combined with the help of technological breakthroughs in computer processing speed, and information storage, has lead us to the latest revolution, and also the newest style of crime, "computer crime". The following information will provide you with evidence that without reasonable doubt, computer crime is on the increase in the following areas: hackers, hardware theft, software piracy and the information highway. This information is gathered from expert sources such as researchers, journalists, and others involved in the field. Computer crimes are often heard a lot about in the news. When you ask someone why he/she robbed banks, they world replied, "Because that's where the money is." Today's criminals have learned where the money is. Instead of settling for a few thousand dollars in a bank robbery, those with enough computer knowledge can walk away from a computer crime with many millions. The National Computer Crimes Squad estimates that between 85 and 97 percent of computer crimes are not even detected. Fewer than 10 percent of all computer crimes are reported this is mainly because organizations fear that their employees, clients, and stockholders will lose faith in them if they admit that their computers have been attacked. And few of the crimes that are...
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...transaction via the virtual world more that physical world compared to decades before. Barry (2011) had been describe on several well-known of organized cybercrime committed internationally which are, internet fraud, anonymity through technology, a market in confidential information and forgery and counterfeiting. Internet has a powerful ability as it can rapidly reach across the world so it provides a larger potential aimed victims than any medium for fraudster operating such as telephone, email or personal contact. Nowadays, criminals can forge not only currency but also credit card details and identification documents such as university certification and birth certificates with great quality and accuracy as the original one. Nigel (2007) has a similar view related to types of cybercrime but focusing of financial crime and fraud in the cyberspace. He explained further on financial crime as it includes problems such as money laundering, terrorist financing and financial fraud. Financial fraud defined by (Stewart, 2001) is where a criminal gains a financial advantage through a false pretence....
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...with the Coldplay front man, Chris Martin. Both Martin and Paltrow are in lines of work that help them to live relatively comfortable lives financially. Yet, by her own admission, without major financial burdens, marriage for them is still difficult (Heller, 2011). American poet and rapper, Notorious B.I.G. said in one of his most popular songs “Mo’ money, Mo’ problems” (Wallace, 1997). In this simple lyric, he was trying to convey the fact the money does not solve everything. In fact, it brings its own set of problems. While he may have been correct, the absence of money brings its own set of unique obstacles, especially within the family dynamic. Many marriage counselors will say that there are numerous pitfalls for all families. Children becoming teenagers, managing the day to day workings of a household, and parents getting older are just a few of the obstacles that families can face. However, financial stress can be one of the largest obstacles that a family has to tackle. In a poor economy, these problems are magnified. For the case of this paper, an imaginary family will be used to illustrate these problems. Jason and Janet Larson have been married for ten years. They have three school aged children. Jason works for a construction company as an electrician. Janet works as a teacher at a local high school. Together, their household income is about $100,000 a year. For most of their marriage, life has been comfortable for the family. However, with the downturn...
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...TOPIC SUBJECT HEADINGS For use in Online Catalog (OPAC) SUBJECT HEADINGS For Sample Database Searches Abortion Abortion; Pro-Choice Movement; Pro-Life Movement Abortion Acid rain SEE ALSO Pollution Acid Rain Acid Rain Adoption (interracial, unmarried persons, gays) Adoption; Gay parents; Interracial adoption Adoption AIDS AIDS (Disease); AIDS (Disease) in children AIDS (Disease); Pediatric AIDS (Disease) Alzheimer's disease Alzheimer's disease Alzheimer's disease Animal rights Animal experimentation; Animal rights Animal experimentation; Animal rights Anorexia and Bulimia SEE Eating disorders Athletes and drugs Doping in Sports Drugs and Athletes Banking Bailout (2008) Bailout Battered women SEE ALSO Wife Abuse Abused women Conjugal abuse Birth control Birth control; Contraception Birth control; Contraception Black Reparations Movement Reparations; Slavery--Law and legislation Reparations Body language Body language; Gesture; Nonverbal communication Nonverbal communication Bullying Bullying Bullying; Cyberbullying Business ethics Business ethics; Corporations - Corrupt practices Business ethics; Business enterprises, Corrupt practices Capital punishment (Death Penalty) Capital punishment; Death row Capital punishment Cancer Cancer--Prevention SEE ALSO types of cancer, such asBreast--Cancer Neoplasms--Prevention and Control;Cancer Treatment Censorship SEE ALSO Freedom of the Press Censorship; Prohibited...
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...Computer Crimes Computer Crimes Computer Crimes Advances in telecommunications and in computer technology have brought us to the information revolution. The rapid advancement of the telephone, cable, satellite and computer networks, combined with the help of technological breakthroughs in computer processing speed, and information storage, has lead us to the latest revolution, and also the newest style of crime, "computer crime". The following information will provide you with evidence that without reasonable doubt, computer crime is on the increase in the following areas: hackers, hardware theft, software piracy and the information highway. This information is gathered from expert sources such as researchers, journalists, and others involved in the field. Computer crimes are often heard a lot about in the news. When you ask someone why he/she robbed banks, they world replied, "Because that's where the money is." Today's criminals have learned where the money is. Instead of settling for a few thousand dollars in a bank robbery, those with enough computer knowledge can walk away from a computer crime with many millions. The National Computer Crimes Squad estimates that between 85 and 97 percent of computer crimes are not even detected. Fewer than 10 percent of all computer crimes are reported this is mainly because organizations fear that their employees, clients, and stockholders will lose faith in them if they admit that their computers have been attacked. And...
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...the past year.’ The most murderous group of Americans are in the 18-to-22 age group,” according to a recent report. “In 1979, says the FBI, they accounted for 25% of all murder arrests.” The British Office for National Statistics reports that “12 per cent of pupils aged 11-15 had used drugs in the last year. . . Cannabis [marijuana] was by far the most likely drug to have been used.” Particularly alarming was the fact that “more than one third (35 per cent) had been offered one or more drugs.” Youngsters have always committed crimes. But usually they expressed remorse when caught. However, more and more of today’s troubled youth don’t seem to know that their crimes are wrong, nor do they care. How else do you explain why two Cleveland teenagers paid another youth $60 to murder their father “because he wouldn’t let...
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