A TERRIBLE CONVERSATION OCCURED IN A LOCAL FINANCIAL MARKETS CLASS BELOW IS THE HORID DETAILED DIALOGUE

steinaglej::HHS141-09:hi
Teacher:Caroline Potter is a single mother with two small children. She commutes 15 miles to work five days a week, driving an old car that has developed several problems. Caroline has been late to work twice in the last month, because of car problems, and each of the problems has saddled her with a large repair bill. Should Caroline buy a better used car, even though she will have to borrow money and take on monthly car payments?
steinaglej::HHS141-09:i was first
lusean::HHS141-15:ur cool
Teacher:Caroline Potter is a single mother with two small children. She commutes 15 miles to work five days a week, driving an old car that has developed several problems. Caroline has been late to work twice in the last month, because of car problems, and each of the problems has saddled her with a large repair bill. Should Caroline buy a better used car, even though she will have to borrow money and take on monthly car payments?
nussc::HHS141-05:yes
chanje::HHS141-14:yes
dubea::HHS141-22:yes
limic::HHS141-23:YES.
Teacher:Why?
Teacher:Cars are very expensive
bondv::HHS141-21:yes
yanm::HHS141-10:yah
Teacher:Caroline Potter is a single mother with two small children. She commutes 15 miles to work five days a week, driving an old car that has developed several problems. Caroline has been late to work twice in the last month, because of car problems, and each of the problems has saddled her with a large repair bill. Should Caroline buy a better used car, even though she will have to borrow money and take on monthly car payments?
forstikmat::HHS141-07:absolutely yes
chanje::HHS141-14:yes because in the long term, it will save her her job, and money
nathanv::HHS141-11:I think she should lease the car.
steinaglej::HHS141-09:yes of course
chanje::HHS141-14:and her car can only get worse
limic::HHS141-23:yes because even though cars are expensive, the long term cost of having to do constant repairs will add up to more
yanm::HHS141-10:yes she should. even though cars are expensive she needs the car for her job
dubea::HHS141-22:if her monthly payment could be low enough for her to pay off
Teacher:Jeff, cars are very expensive. Repairs, insurance etc
steinaglej::HHS141-09:it could get better
chanje::HHS141-14:nothing is free
nathanv::HHS141-11:LEASE the car
Teacher:What about public transportation? This would be significantly less
steinaglej::HHS141-09:i have got to admit its getting better its getting better all the time
limic::HHS141-23:LOL
dubea::HHS141-22:i didn't realize public transportation was an option
potylitsind::HHS141-18:however, if she doesn't get the car and get to work on time she could lose her job. So much for making any money
dubea::HHS141-22:then yeah she should do that
nathanv::HHS141-11:hiu\
dubea::HHS141-22:and figure out her moneys.. then she can do that car stuff
potylitsind::HHS141-18:public transport works too
limic::HHS141-23:well you can't always take public transportation everywhere
Teacher:What if she gets the car and loses her job?
chanje::HHS141-14:what if her area doesnt offer public transportation?
nathanv::HHS141-11:LEASE the car
yanm::HHS141-10:then buy a new car or lease it
steinaglej::HHS141-09:she is got to sell herself
dubea::HHS141-22:she should take public transportation to work
Teacher:Vinay, a lease would be less expensive but still costly
dubea::HHS141-22:in order to keep her job first
dubea::HHS141-22:her job should be her priority, not her car
potylitsind::HHS141-18:still its risky from both sides. Just repair the car if it is cheaper than buying a new one
Teacher:next scenario
Teacher:Jake Purdy just got a great job working as a salesman. His salary isn’t high, but he can earn excellent commissions if he makes a lot of sales. Jake has a reliable car, but he has his eye on an expensive new model that would make a better impression on his customers (and also on his dates), he thinks. Car payments for the new model would be high, but Jake feels that he can make enough in sales commissions to cover the cost. Should he take out a loan and buy the new car?
yanm::HHS141-10:shbut she needs the car for her job?
nizzap::HHS141-03:yes she needs to buy a new car because she cant afford to be late anymore because she could get fired and then have no money
limic::HHS141-23:no.
chanje::HHS141-14:no
nathanv::HHS141-11:But she might not run into all the car problems and she can get a nicer car next time
dubea::HHS141-22:no
lusean::HHS141-15:no
chanje::HHS141-14:vinay, we're on the nexy scenario
dubea::HHS141-22:he doesn't know how much commission he can potentially make for sure
chanje::HHS141-14:i second arjun
potylitsind::HHS141-18:no wait till he gets enough money first to buy it in one swoop. anyways better cars come out each month
steinaglej::HHS141-09:a sexy scenario chanje
nizzap::HHS141-03:no
steinaglej::HHS141-09:sorry that was vinay
Teacher:What if he buys the new car and things don't go well? For example, he sells homes and now noone is buying
chanje::HHS141-14:then he is in deep trouble
steinaglej::HHS141-09:he can wait it out
dubea::HHS141-22:yeah
messinan::HHS141-06:then he doesn't have money to pay the payments
dubea::HHS141-22:thats why we told him not to buy it
Teacher:What if he loses his job? and defaults on the loan?
dubea::HHS141-22:i hope hel istens
nizzap::HHS141-03:then that wouldnt be good at all
chanje::HHS141-14:bad credit
potylitsind::HHS141-18:so thats why you don't buy it
Teacher:His credit score will be hurt
steinaglej::HHS141-09:what if what if none of it will happen
messinan::HHS141-06:dont buy it
steinaglej::HHS141-09:what if he wins the lottery!!!!!!!!!!!!!!!
nizzap::HHS141-03:everything would be hurt if thing dont go wel
nizzap::HHS141-03:well
Teacher:I am going to send you information on what goes into a credit score
chanje::HHS141-14:you can have a lot of "what if" scenarios ...
forstikmat::HHS141-07:obama better get stuff worked out
Teacher:You will see it in a moment
nizzap::HHS141-03:ok
Teacher:This booklet, although long, provides important information about credit scores
forstikmat::HHS141-07:what does fico stand for???
potylitsind::HHS141-18:is this optional or manditory
Teacher:It's not the most exciting booklet but it is very important
Teacher:Good question Mat
Teacher:Fair Isaac Corporation (NYSE: FIC), founded in 1956 by engineer Bill Fair and mathematician Earl Isaac, provides consulting services and enterprise decision management systems. They developed the FICO scores, a measure of credit risk, that are the most used credit scores in the world. FICO scores are available through all of the major consumer reporting agencies in the United States and Canada: Equifax, Experian, TransUnion and PRBC[1]. (FICO is a registered trademark of Fair Isaac Corporation).
forstikmat::HHS141-07:interesting
Teacher:When you seek out a mortgage, car loan, or a credit card, they look at your credit score (FICO Score) to determine your creditworthiness
yanm::HHS141-10:so what do we do with this
bondv::HHS141-21:?
Teacher:Learn about credit scores now so that you will be better informed later
Teacher:Next scenario
dubea::HHS141-22:so is FICO like the only credit score option available?
Teacher:Right now there are other credit scores available but I would estimate that 99% of lenders use the FICO score as there source of determining your credit risk
dubea::HHS141-22:k
Teacher:Each credit agency produces a score
Teacher:Next scenario
nizzap::HHS141-03:is the fico thing the standard for determining credit?
Teacher:Ladies you will like this one
Teacher:Felicia Washington is the homecoming queen at her high school. She is going to the homecoming dance with the best-looking guy in the senior class. She goes shopping for a new dress to wear to the dance. She finds one nice dress for $79- an amount she could pay in cash. However, she also finds a spectacular dress priced at $169. She could buy this dress with her credit card. Sure, it’s a lot of money, Felicia thinks, but she owes it to her public and her date to look dazzling for the big event. Should Felicia put the spectacular dress on her credit card?
nathanv::HHS141-11:poop
dubea::HHS141-22:hells yeah
dubea::HHS141-22:its worth it
Teacher:Why? She will only wear the dress once
steinaglej::HHS141-09:i agree vinay first mature thing u have said
Teacher:Justen and Vinay you are about it ruin it for yourselves
Teacher:Felicia Washington is the homecoming queen at her high school. She is going to the homecoming dance with the best-looking guy in the senior class. She goes shopping for a new dress to wear to the dance. She finds one nice dress for $79- an amount she could pay in cash. However, she also finds a spectacular dress priced at $169. She could buy this dress with her credit card. Sure, it’s a lot of money, Felicia thinks, but she owes it to her public and her date to look dazzling for the big event. Should Felicia put the spectacular dress on her credit card?
dubea::HHS141-22:169 isn't a huge amount of money to pay off in credit
limic::HHS141-23:yes it's not huge amount to pay back
dubea::HHS141-22:and she can only be homecoming queen ONCE
Teacher:But it is 2 times the cost of the other dress
nizzap::HHS141-03:yeah i think so because if she has nice parents they could pay for some of it
forstikmat::HHS141-07:no cuz its whats on the inside that really counts. she should go in sweat pants amd a tee shirt
limic::HHS141-23:but it's probably 2 times better looking.
yanm::HHS141-10:but if shes only going to wear it once its not really worth it
chanje::HHS141-14:this dance is once in a lifetime right?
nizzap::HHS141-03:and there could other times where she could wear
dubea::HHS141-22:looking at this realistically, dresses nowadays proabbly cost a lot more than 169
Teacher:That is true but it will cost a lot
abramsl::HHS141-02:i agree with matt
limic::HHS141-23:it's not bad to indulge yoursel fonce in a while.
Teacher:What if the event was say, a sister
Teacher:s wedding
potylitsind::HHS141-18:technicly it isn't that much and she can already affored half of it so why not if shee wants it
Teacher:would that make a difference?
dubea::HHS141-22:then the cheaper one
bondv::HHS141-21:who cares?
nizzap::HHS141-03:thats makes a big difference
dubea::HHS141-22:yeah because she's not the shining star in her sisters wedding
forstikmat::HHS141-07:sweat pants amd a tee shirt ftw
williamsr::HHS141-04:she can also reuse it.... at an event that no one who was at homecomming would seee
messinan::HHS141-06:agreed
dubea::HHS141-22:so she has no need to spend more money on an absolutely awesome piece of clothing
Teacher:Gents, what about a suit for the prom, would that make a difference in your decision to buy or not to buy?
dubea::HHS141-22:hahaha no
potylitsind::HHS141-18:its personal opinion, these kind of "what ifs" could be argued over for ever.
limic::HHS141-23:nops.
dubea::HHS141-22:they all look the same
Teacher:Messina, very insightful response
messinan::HHS141-06:thank you
williamsr::HHS141-04:you could use a suit alot
messinan::HHS141-06:you dont have to buy a suit
Teacher:ok, next scenario
messinan::HHS141-06:you can rent one out for like a weekend
Teacher:Mike Chiang is a community-college student. He has three credit cards, all charged close to the limit. Mike manages to make the minimum payments each month, thanks to his part-time job at Pizza-R-Us. Mike really, really wants to go with his friends on a spring-break trip to Padre Island, Texas, but he doesn’t see how he can afford to do it. Then he receives a friendly letter from one of his credit-card companies "Dear Mr. Chiang," it begins, "Since you are one of our most valued customers and always make your payments on time, we are raising your credit limit by $2000." Mike is thrilled! Now he can go to the Padre Island with his friends. Should he do it, charging his expenses to his card?
dubea::HHS141-22:how much does the vacation cost?
Teacher:Say the vacation is $1,000
nathanv::HHS141-11:NOOOOOOOOO
williamsr::HHS141-04:no
Teacher:Vinday, WHYYYYYYYYYYYYYYYYY?
messinan::HHS141-06:no
yanm::HHS141-10:nah.
chanje::HHS141-14:no
nizzap::HHS141-03:nooooooooo
abramsl::HHS141-02:why would anyone go to texas for a vacation
Teacher:He can use his card to buy more stuff
yanm::HHS141-10:idk my bff jill
chanje::HHS141-14:true dat
bondv::HHS141-21:VINNAAYYYYYYYYY
Teacher:Ms. Abrams, thats not important
forstikmat::HHS141-07:no
nathanv::HHS141-11:IDK my bff Justin
potylitsind::HHS141-18:nope hes going to be done over once he gets back and will never be able to pay it off, expecially since he always pays minimum
steinaglej::HHS141-09:yes dude it would be awesome
williamsr::HHS141-04:because he's gonna build up so much like we saw yestereday that he'll never be able to pay it back with only a part time job
steinaglej::HHS141-09:sorry totally awesome
forstikmat::HHS141-07:catch a matinee on broadway instead
dubea::HHS141-22:the scenario said that he was already charged close to his limit before
Teacher:Mike wants to live in the moment, enjoy good times on the trip
williamsr::HHS141-04:he needs to save ALOT before he can do that, and get rid of all his payments
dubea::HHS141-22:so we can assume he has a little more than 2000 dollars to spend
chanje::HHS141-14:yeah when he comes back, hes gonna feel dsitressed with all the money he has to pay back
dubea::HHS141-22:and ... yeah ok then he can do it
nussc::HHS141-05:he needs another job
Teacher:If he saves, it may take years!!!
messinan::HHS141-06:so dont do it
potylitsind::HHS141-18:live in the moment in a year once he pays of everything on his credit cards
yanm::HHS141-10:so it's not worth it
nizzap::HHS141-03:i still dont think he should do it
steinaglej::HHS141-09:i will be performing on 5 ave and broadway that day too
messinan::HHS141-06:besides noone likes texas anyway
forstikmat::HHS141-07:steal from work
chanje::HHS141-14:he can get a better job and get a better structure with more savings, then spend some money on a vacation
chanje::HHS141-14:only buy what you can afford ...
messinan::HHS141-06:agreedddddd
Teacher:Last scenario and then we have an assignment thanks to the following: Mat, Vinay, Justen
steinaglej::HHS141-09:dont worry just change ur name then move to jamaica
limic::HHS141-23:naice.
messinan::HHS141-06:thanks.
Teacher:Let's all say Thanks!
Teacher:Thanks!
steinaglej::HHS141-09:woooooot
nathanv::HHS141-11:THANKSSSSSSSSSSS
lusean::HHS141-15:GRACIAS
bondv::HHS141-21:htnaks
chanje::HHS141-14:thanks
yanm::HHS141-10:THANK YOUUUUUUU YEEEEYYY
steinaglej::HHS141-09:ur welcome
bondv::HHS141-21:thanks
potylitsind::HHS141-18:whohoooo. i was bored. NOT!!!
nussc::HHS141-05:thanks
nizzap::HHS141-03:thanks
Teacher:Bill Baker needs a new mattress and box spring. He’s still sleeping on the same set he used as a kid, and his back is killing him. He has started putting away $50 a month for a new mattress and a box-spring set that costs $400. Then the set he wants goes on sale, for a limited time only. The sale price is $300. Should Bill put the mattress and box-spring on his credit card now, or should he wait until he can save $400 to buy it?
limic::HHS141-23:ty.
nathanv::HHS141-11:WOWWWWWWWWWWWWWWWWWWWW
williamsr::HHS141-04:yes!
limic::HHS141-23:nao.
limic::HHS141-23:buy it
forstikmat::HHS141-07:credit card asap
chanje::HHS141-14:now
steinaglej::HHS141-09:whats his interest on the credit
yanm::HHS141-10:buy itttt discountttt
Vinay the trouble maker:WAITTTTTTTTTT!!!!!!!!
messinan::HHS141-06:depends on how much his back hurts
williamsr::HHS141-04:no buy irt
fokc::HHS141-01:savee
potylitsind::HHS141-18:wait. it will be cheaper.
Vinay the trouble maker::)
Justen the class ruiner:whats the interest
nizzap::HHS141-03:yes he can make the purchase now
Mat the wise:yes
chanje::HHS141-14:health is the most important thing to consider, if you die, it doesn't matter how much money you saved
Justen the class ruiner:haha i love my title
yanm::HHS141-10:me too
chanje::HHS141-14:you cant even use the money if you die
lusean::HHS141-15:HAHA
yanm::HHS141-10:o. rly?
nussc::HHS141-05:it depends how much interest he pays
Justen the class ruiner:can i be sir goldentop of broadway?
Mat the wise:she still shouldnt get the dresssss
messinan::HHS141-06:so just buy it. he;ll sleepp better so he'll be able to do his work better to make more moula
potylitsind::HHS141-18:nice names. the fit
potylitsind::HHS141-18:they fit
dubea::HHS141-22:if he gets a bad back, then he won't be happy
dubea::HHS141-22:soooo he should buy a mattress
dubea::HHS141-22:and be happier
Messina the "Agreed":he already has one
yanm::HHS141-10:health is important, hurrhurr
Bond the loud mouth:haha
Vinay the trouble maker:WHY am I the trouble maker
Messina the "Agreed":cohen. im commenting. its better then me sleeping
Dmitriy the Stock Genius:do i have a name yet
Dmitriy the Stock Genius:noooo
dubea::HHS141-22:can i be like.. arjun the awesome?
Justen the class ruiner:see ur starting trouble now vinay'
lusean::HHS141-15:lol
limic::HHS141-23:haha
lusean::HHS141-15:VINAY
Michael the BlueClaw:.
Dmitriy the Stock Genius:hey your going to have a name too once he gets around to you so
Pat:the stock genius?
Dmitriy the Stock Genius:...
Michael the BlueClaw:the blue claw??
limic::HHS141-23:lol
Bond the loud mouth:hahah
Les the injured:hm
lusean::HHS141-15:blueclaw?
Teacher:OK last one
Teacher:Bill Baker needs a new mattress and box spring. He’s still sleeping on the same set he used as a kid, and his back is killing him. He has started putting away $50 a month for a new mattress and a box-spring set that costs $400. Then the set he wants goes on sale, for a limited time only. The sale price is $300. Should Bill put the mattress and box-spring on his credit card now, or should he wait until he can save $400 to buy it?
fokc::HHS141-01:skdfsdk
Les the injured:thanks
Bond the loud mouth:no
Jeff the smarty:now
Michael the BlueClaw:I hate baseball though!
limic::HHS141-23:YES
dubea::HHS141-22:wait isnt that the same one?
Williams the Prom Party Maker:we already did this
Vinay the trouble maker:Ur goin too fast
limic::HHS141-23:buy it
Mat the wise:GET THE CHEAP DRESS
lusean::HHS141-15:wow
Messina the "Agreed":i say buy it
Candace the Underclassman:buyy now
Vinay the trouble maker:Go cheap
limic::HHS141-23:hahaha
Michael the BlueClaw:buy ittttttt
Dmitriy the Stock Genius:get oscar a name. perfect name OSCAR
lusean::HHS141-15:wow ur original
limic::HHS141-23:wtf
Pat:yes get the matress
Dmitriy the Stock Genius:thnx
Jeff the smarty:ur cool dmitri
dubea::HHS141-22:yeah he should buy a mattress
Bond the loud mouth:nice one
Williams the Prom Party Maker:lame
Justen the class ruiner:i think she should get a new used car
Messina the "Agreed":hahah rach.
limic::HHS141-23:if it's on sale then you should def buy it
Nuss the Corrupted by Messina:what am i
lusean::HHS141-15:...
Teacher:ok, lets resond
lusean::HHS141-15:-.-
Teacher:Bill Baker needs a new mattress and box spring. He’s still sleeping on the same set he used as a kid, and his back is killing him. He has started putting away $50 a month for a new mattress and a box-spring set that costs $400. Then the set he wants goes on sale, for a limited time only. The sale price is $300. Should Bill put the mattress and box-spring on his credit card now, or should he wait until he can save $400 to buy it?
Messina the "Agreed":COHEN
Vinay the trouble maker:yea you should
Vinay the trouble maker:hello
Williams the Prom Party Maker:we already said this buy now
Williams the Prom Party Maker:if the interest is low
Pat:we did i said to gtet the matress
Justen the class ruiner:SPEND MONEY
limic::HHS141-23:how much does he have right now?
Messina the Obnoxious:AGREED
Vinay the trouble maker:Stay cheap
Teacher:$100
dubea::HHS141-22:he should put it on his card
limic::HHS141-23:how much does he have saved?
Williams the Prom Party Maker:pat the nat...
dubea::HHS141-22:instead of saving
limic::HHS141-23:ah
Mat the wise:SWEAT PANTS FOR PROM MR.COHEN
limic::HHS141-23:kk
Vinay the trouble maker:be cheap
limic::HHS141-23:then go for it
dubea::HHS141-22:because it might be a long time to make that much money
Vinay the trouble maker:live cheap
dubea::HHS141-22:depending on his job
Messina the Obnoxious:cohen. im going to sleep.
Teacher:GOOD!
Vinay the trouble maker:hes a janitor
Jeff the smarty:he should buy it now because if he is living in distress, there is no point in saving money. And in the future, if it his back problems cost him his life, that extra 100 dollars he saved doesnt matter anymore
lusean::HHS141-15:haha
Bond the loud mouth:Tacher: You should change your name?
Teacher:Do you need the bed from Bill Baker?
Justen the class ruiner:MR. COHEN THERE IS GONNA BE A NEW ONION ARTICLE SOON
limic::HHS141-23:it's expensive to treat back problems.
Williams the Prom Party Maker:stop starting trouble VINAY!
lusean::HHS141-15:VINAY
Jeff the smarty:VINAY
lusean::HHS141-15:VINAY
Michael the BlueClaw:VINAY
limic::HHS141-23:VINAY
Dmitriy the Stock Genius:VINAY
Justen the class ruiner:VINAY
Nuss the Corrupted by Messina:VINAY
lusean::HHS141-15:VINAY
Pat the Fool:VINAY
dubea::HHS141-22:VINAY
Bond the loud mouth:VINAY
Candace the Underclassman:VINAY
lusean::HHS141-15:VINAY
Nuss the Corrupted by Messina:VINAY
Bond the loud mouth:VINAY
Jeff the smarty:VINAY
Mat the wise:GET A BOB-O-PEDIC for like HALF THE PRICE
Les the injured:hah
Candace the Underclassman:VINAY
lusean::HHS141-15:VINAY
Vinay the trouble maker:VINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAYVINAY
lusean::HHS141-15:VINAY
Jeff the smarty:VINAY