Disadvantages of Credit Cards

Disadvantages of Credit Cards Mehmetcan Sevim 070090077 Faculty of Management Faruk Cetiner 070090005 Faculty of Management Ceylin Ulusel 020090306 Faculty of Architecture English 201 Esra Sancak December 28, 2011 Disadvantages of Credit Cards Thesis: It is argued that credit cards are beneficial for individuals however they bring many financial problems, trigger consuming and cause psychological conflicts in long-term period. I. Financial A. Penalty rate 1. Late payments 2. Exceeding credit limit B. Transaction fee 1.Interchange fee 2. Foreign transaction fee I. Consumption A. Trigger effects 1. Consumer culture 2. Compulsive buying B. Spending addiction 1. Overspending 2. Indebtedness III. Psychological A. Behavior 1. Compulsive buying behavior 2. Money attitudes B. Mental 1. Depression 2. Self Esteem Finance can be defined as an art which leads to maximize return against risk. Dramatically increase at industrialization required more specific management and revealed many department s of companies such as marketing, sales, human resources.Finance provides pecuniary resources to these departments and also are used for cash flow management. When finance became more important in business life, finance industry emerged. Finance industry provides services related with the management of money. Banking service is the most ongoingness sector in the finance industry. It provides personal, commercial and mortgage loans which is related with credit system. Credit card which works to loan money monthly to consumers, is the most important component of credit system. People can buy goods, services without cash thanks to credit cards.It can be seen that credit card usage is so popular in banking system and most of the credit card holders have more than one credit card. It is argued that credit cards are beneficial for individuals however they bring many financial problems, trigger consuming and cause psychological conflicts in long-term period. First of all, credit cards brin g difficulties for consumers related with financial problems. Credit cards can be so dangerous financial tool when it is used by unconscious costumers. Financial difficulties related with credit cards are also derived from lack of knowledge about credit card usage.The first significant financial problem for credit card users is penalty rate. Late payment is one of the reasons which gives rise to penalty rate. As Buttel explains, there is no difference between time periods when people paid their credit card payments late. Grace period changes between 20 and 31 days and even if card holders make their payments one day late, they are exposed penalty rates. Moreover, although payment is made before the new grace period, credit card holders could be charged penalty rates if they don’t pay their current bill(2003,para. 8-11).This is why it is important that credit card holders should be careful about making their card payments on time. Furthermore, exceeding credit limit is another reason of penalty rate. Buttel states, according to the Consumer Action, credit card holders are exposed to pay high payments and over limit fees with be dragging customer limit down under the current balance by some credit card issuers (2003, para. 14). Clearly, some credit card issuers fox about credit card limits. Apart from penalty rate, credit cards also result transaction fee. To begin with, credit card holders suffer from interchange fee.When customers choose to pay with credit card instead of cash, they usually exposed to pay higher prices related with interchange fee. Mitchell states, â€Å"Interchange fees not only enhance the profits of large banks at the expense of retailers, but ultimately these fees are paid by consumers in the form of higher prices† (2009, para. 11). Obviously, credit card usage makes retailers raise their prices. In addition, foreign transaction fee is a variable charge that card holders usually can not chase. In foreign countries, it is poss ible that credit card holders have to make more payments.As Gerson explains, foreign transaction fees are hided by some issuers and they are so hard to be followed even if the card holders ask them from the customer service or the corporate office. Also, if cardholders use a card like Bank of America-issued Visa abroad, they have to pay Visa fee in addition to Bank of America’s own fee. This clearly shows the risk of using credit cards in foreign countries (2008, para. 3-5). Consequently, credit card usage brings along many problems related to transaction fee. Second of all, credit cards also have many trigger effects on consumption.The first major problem is the impacts of changing consumer culture and how it reforms the psychology of the credit card users. As Sheth indicates that triggers of consumption attitudes are mostly provided by the independence that is connected to process of production and the increasing force of authorization, which are also parts of the consumer culture (2003,para. 3). This is a fundamental and a detailed explanation of the connection between trigger effects of consumption and cultural consequences. Furthermore, compulsive buying is another triggering impact of credit cards.According to Roberts, Jones, in the realm of consumer behavior, credit cards can certainly be construed as promoting spending by making the transaction simpler or by removing the immediate need for money (2001, p. 220). It is obvious that credit cards stimulates spending in consumer behavior by many ways. In this case, these two facts are truly supporting the idea that credit cards are triggering consumption attitudes. Spending addiction is another outcome of credit card based consumption. One of the results of this addiction comes to the scene as the overspending attitude.According to Roberts, Jones, increasing number of indebted people creates a psychology that consents overspending and excessive shopping as a normal behavior which is expected to be ch anged in time (2001, p. 214). This fact explains the general judgement of overspending behavior among indebted customers. Moreover, indebtedness is another significant impact of spending addiction. Griffin states that, instead of accepting indebtedness as a moral failure, mischance is a commonly approved excuse that obstructs making other approaches about the situation (2003, p. 4).This fact clarifies that misconceptions about indebtedness in consumer psychology can orient credit card users negatively and can give rise to unconscious consumption. Eventually, overspending and indebtedness can be counted as the major consequences of spending addiction which –as it explained before- is triggered by many factors. The last and most dangerous effects of credit card usage are considered as psychological effects. First of all, credit cards cause some differences on consumer’s behavior. Credit cards provide a financial confidence even if the user’s financial situation is not reliable.Consumers buy goods and services by money which they had not earn, that situation causes uncontrolled consuming desire. As Parecki states, ‘’Many researchers define compulsive buying behavior as a form of chronic addiction –that is an ‘endless cycle of trying to satisfy that which cannot be satisfied’. Instead of creating healthy interpersonal relationships with other people, compulsive buyers replace their love and trust in the acquisition of objects’’ (1999, p. 4). This definition clearly leads us to negative effects of compulsive buying behavior.In addition, credit card usage also causes price sensitivity of consumer which becomes unbalanced. As Fogel and Schneider cited in Roberts and Junes, irresponsible credit card usage is related with the money attitudes of power and prestige but not price sensitivity (2010, para. 10). Credit cards cause irresponsible behavior because of the money attitudes of power and prestige. A s a result, credit card usage changes consumer habits in a negative way. The second psychological effect of credit cards is causing mental disorders. Credit card usage and card debts mostly lead to depression.Card debts getting higher and higher by default interest, and consumer becomes hopeless about clearing that debt. As Stevenson cited in Andrews and Willing explains, when the negative experiences are researched according to their effects on anxiety and depression level, the financial strain has been shown as %21 among participants (2008, p. 5). Financial issues mostly trigger depression and anxiety. Because of the default interest, situation gets worse and worse. Beyond that, card debts and uncontrolled credit card usage leads consumer to lowering self-esteem.As Parecki cited in Cole explains, compulsive buyers see themselves worthless and try to find ways to self-destruct. The consequences may include unemployment, bankruptcy, social isolation and divorce (1999,p. 9-10). Lower ing self-esteem may trigger self-destruct. All of the above show us how uncontrolled credit card usage damages mental health. References Buttel, A. E. (2003, September 25). Credit card penalty rates:Mistakes that trigger default APRs, from http://www. creditcards. com/credit-card-news/credit-card-penalty-rates 1267. php Gerson, E. S. 2008, November 21). Top credit card issuers’ foreign transaction fees, from http://www. creditcards. com/credit-card-news/foreign-transaction- conversion-fees-1276. php Mitchell, S. (2009, May 5). Soaring Credit Card Transaction Fees Squeeze Independent Business, from http://www. newrules. org/retail/news/soaring-credit-card-transaction- fees-squeeze-independent-businesses Sheth, J. , & Maholtra N. (2003). Global Consumer Culture. Retrieved October 18, 2011 from http://www. uwyo. edu/sustaindevsupport/docs/Global%20Consumer%20Culture. df Roberts, J. , & Jones E. (Winter 2001). Money Attitudes, Credit Card Use, and Compulsive Buying among American College Students. The Journal of Consumer Affair, 35(2), 213-231. Griffin, B. (2003). Reviewed from â€Å"The Character of Credit. Personal Debt in English Culture†. Finn, M. Retrieved October 18, 2011 from https://www. history. ac. uk/reviews/review/435 Vohwinkle, J. (n. d. ). Examine the Roots of  Overspending. Retrieved October 11, 2011 from http://financialplan. about. com/od/savingmoney/qt/Overspending. htm

How i learn best Essay

Don Harold, an American writer, once wrote, â€Å"The brighter you are, the more you have to learn†. I strongly believe in this statement because knowledge will help us to succeed in life. Every day we are learning new things, but sometimes learning can be very difficult. Learning can be made easier through various ways; though everyone has their own unique ways of learning. Visual learning, auditory learning, and learning from my mistakes are the three ways I learn best in my life. One of the ways I learn best is through visualization by seeing and observing things. For example, when I read a textbook I always highlight the important key words because it helps me to catch my attention when I do revision before each exam. Also, I usually create an outline to minimize the large context of paragraph and to guide me in classifying the important information. Another way of visual learning is by watching videos of the subjects. For instance, when I study marine biology, I like to w atch videos about plants and animals that live in the sea; because the videos help me to keep the subject in my head. Making flash cards is another way that helps my visual learning. Flash cards explain the definitions in short forms, allowing me to remember the function of body parts when I study anatomy and physiology. In addition, flash card helps me to point out the important materials in each chapter. I study new vocabulary words on colored index cards with short definitions on the back, and I carry those with me to review them at odd moments or whenever I have spare time. Moreover, visual learning helps me to memorize and store more materials in my brain. For example, when my friend and I study together for a biology test, I exercise my visual methods while my friend memorizes everything. When results come, I score more points than my friend does. Another way I learn well is through auditory learning. To illustrate, I try to concentrate and be more attentive to what the teacher says in class, for it helps me to learn things while I am in the class room. Also, I record my class lectures and listen them while exercising, so I can utilize my time appropriately and help me to remember. Listening to the radio helps me to  learn the English language while I am driving. For instance, there are different radio stations that provide up-to-date news. Just by listening to the radio I can learn new words and get an idea about what is going on around the world. When I hear a new song couple of times, I can sing it without looking at the lyrics because it is already saved in my brain through listening; the same method works with reading books out loud helps me to memorize materials quickly. In addition, study groups are the best place I go for auditory learning because I can hear different ideas from different students. Learning from mist akes is the final way I preferred to learn. When I make mistakes, instead of discouraging myself, I find ways to support my learning process. For example, I used to be a rushed driver, but last year I earned a speeding ticket. After this incident I learned my lesson, and now I am driving at the correct speed limit. Also, I accept my mistakes as a part of the learning process. I believe success only comes from mistakes. In my case it is extremely accurate because last year I failed my Earth and Space class due my laziness and I regret it. Last semester, I took the same class again, studied harder, and I successfully passed the class with an A average. In addition, when I make a correction in my homework, I learned to do not repeat the same mistake. Throughout my personal experience in life, I believe mistakes act as an opportunity to learn. In conclusion, learning is an integral and vital to succeed in life. Visual learning, auditory learning and learning from mistakes are the three ways I learn best in my life. Using those three ways I can make learning easy and simple.

The Personal Development, Health and Physical Education

The necessity for the furtherance of vigorous, hale and hearty lifestyles among the children and youth is immense. More and more children and youth are subjected to ample social evils and actions that expose their health and lifestyles at peril. This is substantiated by mounting reports of low self-esteem, insufficient nutrition, family troubles, strain, increased drop-out rates, aggression among youths, sexual activity from a young age, rise in smoking habits, reduced physical work, growing incidence of portliness and rise in health risks caused due to more and more desk work among the youth of our nation. The personal development, health and physical education or PD/H/PE is very important to every feature of the standard growth and development of children and youth- not just bodily but social and emotional development also. (A Global Vision for School Physical Education, 1995) Better education, enhanced attentiveness, refined self-control and poise as also promotion of healthy, encouraging and lasting attitudes towards personal development, health and Physical education are well preserved advantages of excellent personal development and physical education in educational institutions. Moreover, personal development, health and Physical education begins the foundation of expertise of skills for involvement throughout the life while concurrently developing an automatic shielding effect against a lot of ailments due to lifestyle associated habits like desk work. With families and social institutions undergoing a revolutionary change, a lot of people more and more turn to educational institutions for an answer. The school is the organization possessing the capability to definitely influence mindsets and behaviors of every child and addresses youngsters as a cohesive group irrespective of sex, age, potential, racial or socio-economic position. (A Global Vision for School Physical Education, 1995) In this paper, we shall deal with a literature review to understand the teacher's perceptions towards the value of personal development, health and Physical education. The sentimental temperament of the teacher might put a deep influence on the mindset of the student to PD/H/PE and thereafter put a major impact on the student's personal development, health and physical education that he faces. S. Smith during 1993 stated that the approach of the teacher was one of the most important factors in the achievement of primary PD/H/PE programs. While elucidating the reason behind non-adherence of physical education in the manner as planned in the curriculum, a lot of clarifications in the writings frequently allude to the teacher, generally specifying the primary teacher as lacking in knowledge, eagerness and making age and gender responsible for it. The duty for planning, teaching and reviewing PD/H/PE is the responsibility of the generalist classroom in a NSW primary school. But, the generalist teachers in this study do not constitute a cohesive class in their mind-set to or engages themselves in imparting personal development, health and Physical education. Age was continuously recognized as an important factor of alarm for the teacher's views towards the importance of PD/H/PE. In a research on â€Å"Teachers' Perceptions of Physical Education in NSW Primary Schools† it was comprehended that a clear gender imbalance is present among the teachers in primary schools the ratio being three female teacher for every male teacher. This automatically does not prove the teacher's apparent potential to teach physical education. Nearly all the teachers in this age group state possess a positive experience of personal development, health and Physical education and sporting activity. Therefore a lot of teachers within the 20-30 year age bracket offer an encouraging viewpoint to the teaching and learning scopes meant for students. Their pre-service courses assumed presented increased resilience, with a several teachers falling under this group having passed an important course of study in personal development, health and Physical education. These teachers point out that PD/H/P/E is accorded major precedence in their schools. They place more weight to personal development, health and Physical education and have increased confidence to tutor a wider array of physical activities. Teachers' Perceptions of Physical Education in NSW primary schools) The researches in this study make out that the majority of the teachers within the 20-30 age brackets have the same level of keenness on the theme of personal development, health and Physical education irrespective of gender. Certainly the lady teachers in this class frequently show an eagerness to instruct throughout a wide array of PD/H/PE activities compared to their male fellow workers. But, in case of those whose age is more than 30 years, male teachers normally enjoy increased satisfaction with their capability to impart personal development, health and physical education, save a lot who are not content with their capability to teach dance. The teachers in the higher age group especially the 41-50 and more than 51 years of age have decreased chances to be content with their capability to instruct about the vastness of PD/H/PE. They regard personal development, health and physical education to be of lower importance and give lesser scope in case of students to attain the results of the curriculum. Several teachers in the above age bracket were worried with legal liability matters, their dearth of training and potential to be idols and the potential to exhibit proficiencies to their classes. (Teachers' Perceptions of Physical Education in NSW primary schools) Some researchers such as Faucette & Patterson, Lawson & Stevens and Portman have discovered that several non-specialist teachers reserve downbeat thoughts on personal development, health and physical education and doubt its value for children. Several more new researches have tried to examine these realms by Xiang et al and Faulkner & Reeves, but added research is required to examine the attitudinal temperament of non-experts and experts and to contrast outcomes for various categories of pre-service and in-service teachers. Xiang et al investigated the attitudinal temperament and thinking of pre-service classroom teachers prior to and following a fields-based course applying two open-ended questions. Upon finishing the course, 50% of the pre-service classroom teachers mentioned that they were reluctant to teach PD/H/PE. It was revealed by Xiang et al. that a lot of classroom teachers that they are not trained to teach personal development, health and physical education after examining the intricate type of PD/H/PE teaching. In the opinion of Portman, it is vital that the attitudinal temperament of teachers is approved in the growth of suitable personal development, health and physical education teacher education courses, as pre-service opinions of the teachers regarding the PD/H/PE might require confrontation or harmonized. Several researchers have mentioned that initial experiences in school in PD/H/PE give potential teachers with a huge spectrum of information regarding physical education, which is likely to influence approaches, idea, and teaching practices. (Morgan; Bourke; Thompson, 2002) Taking a cue from a life history research of 11 women, Emma Rich discovered the manner in which a team of freshly skilled female. PD/H/PE teachers built the ‘dilemma' of girls' comparatively decreased involvement in personal development, health and physical education. It is recommended that, whereas these women willingly articulated a wish to alter the gendered characteristics of PD/H/PE at the time of teaching their stature were most vehemently directed to a discussion of liberal individualism billing ‘girls' as a dilemma in personal development, health and physical education. However, there are also methods wherein teachers might initiate to take steps witnessing girls as ‘problems' within personal development, health and physical Education by depicting on a knowledge of physical culture and developing automatic habits in teacher education. In the opinion of Jinhee Kim and Andrews Taggart, three reasons surfaced which represented the negative discernment of personal development, health and physical education: the low condition of physical education program, teacher's detachment with the subject matter, and their absence of pedagogical knowledge. It was finally arrived that teachers at the primary school level possess a very narrow perception of their duties for executing PD/H/PE programs and appear to a part of the sustainable stillness attributed to physical education classes in primary schools. Gold holds the opinion that several of the researches evaluated in literature on the views of teachers towards the importance of personal development, health and physical education point out that the maximum difficulties faced by teachers were irresistible experiences of disenchantment and thinking that they were not capable to adjust with the plethora of strain faced daily, and that to fight out that difficulty thought must be applied to find out the type of facilities required for initiating teachers and to devising efficient back-up programs. Unluckily the likely dearth or shortage of supportive programs in the early years of teaching might just enhance the rate of teachers to quit for greener pastures. Woods proposed that similar mounting stress on the teacher often totally aggravate the educational objectives and raise an advanced concern to the completeness of the encounter, which is of existence. With this special apprehension, the opinion of Wood is that teachers build endurance policies and that they are inclined to be employed in acts like domination, socialization, brotherhood, for students. (Hardy, 1999) Substantiation can be found that teachers who comprehend the importance of, and are capable of working by undertaking a strategy, the interactive factors impacting their independent workplace circumstances are starting to relocate their programs as more fundamental to their whole school's educational culture and objectives. These growths indicate ardently at methods of qualified regeneration in case of a lot of teachers with whom we have worked on sport education projects. (Alexander; Taggart; Thorpe, 1997) Teachers contributed an important part in furtherance of the value of personal development, health and Physical education in America. The literature evaluation allowed revealing that the approach of the teacher was one of the most important factors in the accomplishment of primary personal development, health and physical education programs. One of the causes for the lack of success of these programs is ascribed to the teacher as being poorly prepared, dearth of interest, unenthusiastic attitudes towards personal development, health and physical education, doubting its importance for children and even making age and gender responsible. The disparity in age and gender facilitated to understand the disparities in the discernment of the teachers in connection to personal development, health and physical education. Nevertheless, the literature showed no countrywide qualitative researches of teachers' belief of directives about personal development, health and physical education.

Managing Employees Relations Essay Example | Topics and Well Written Essays - 2250 words

Managing Employees Relations - Essay Example Models of Employee Relationships The models of employee relationships hovers basically around two approaches-individualism and collectivism. In the individualistic approach focus is rendered on the development of the productive capacity of individual employees in the concern. The development of the employees on an individual network can be accomplished through formal training approaches or through motivating the people through financial or other rewards to render productivity to the concern. This practice helps at enhancing both the commitment and loyalty of the employees working in the concern. Similarly the workers can be called for participation in the decision making activities in the concern. This helps in the enhancement of participative management in the concern. In contrast to the individualism approach the organisations also work on the collectivism approach that depends on a great extent on the existence of trade union bodies. Through the existence of trade union bodies the organisations can encourage the employees to take part in decision making activities regarding such events that tend to directly have impact on them. Like the trade unions can be encouraged by the human resources managers of the concern to collectively bargain with the employees in regards to their wage and employment needs (Purcell, 1987, p.536, 538). In regards to the above discussion the paper focuses to understand the employee relation practices employed at ACME in regards to the various events involving the employees of the concern. Identification of the Management Style Used by ACME Recruitment The management style of ACME in the recruitment process focuses not only on the experiences of the candidate but also on the knowledge potential of the person that would be helpful to serve the concern. Moreover the recruitment process also involves the incorporation of a psychometric test that not only gauges the potential of the individual but also helps the managers in gauging the i ndividual based on different situations. Again recommendations from the family circle of employees is not entertained rather friends or colleagues of employees working in like position are called for interview. A major chunk of the potential roles in the organization are filled in by internal people. Though the management focuses on engaging fresh blood from the society for the primary roles the bigger posts are filled in by people working previously in the organization. This recruitment process entailed by the organization is justified in that it aims to evaluate the skills and aptitude of the people or the interviewees in relation to the posts created in the concern. This helps in effectively matching the ability of the workers to the needs of the concern. Moreover the use of psychometric tests in the organization also helps in conforming the skill sets of the employee along with rightly judging the personality traits of the individual needed to match the concern’