Portfolio Philip saleh

The things that I've learned in Financial Literacy:

I have learned about stocks. What I have learned is how to read chart, how to make money from stocks, how to analyze company's, and the main thing is I learned to read and understand what most of the things mean. For instance, when you are looking to buy stock make sure you check if the price is at its low. If it is this is a good time to buy. Also, make sure to look at the trends that the company goes in so you have an idea of whats going to happen.

I also learned in this class is how to comparison shop. Comparison shopping has to do with two or more things you want to get for the lowest price. If you wanted to get a TV, you would do some research to see if you can get the TV you want for cheap than you saw somewhere else. Even when you are at the store and you compare two different brands of bagels but the same ingredients and everything, you probably would go with the cheaper one.

I also learned the importance of diversification in the stock market. This is real important because you have a greater chance of making profit than you do if you just put all of your money in one stock. Putting all your money in one stock is quite risky. The rewards maybe high but the risk is way to big. If you split the money and put them in many different stocks your chance of reward is far greater and it is less risky.

I learned the type of scams and how to avoid them. The four main scams are the pigeon drop, shell game, lucky day, and stolen cars. The pigeon drop is when someone says the found a check on the ground and want to split it with you. So, what they'll do is ask you for their half in cash and give you the check. The check is fake so you are actually loosing money. To avoid this simply do not accept the check. The shell game is when people put like a marble under a shell and they mix it up. It will be easy to see which one the marble went in but what you don't see is that very quickly they dropped the marble and put it in a different one. To avoid this simply do not play the game.

Lastly, I learned how to have good credit. To determine if you will get a credit card or not is really based on the three C's. These include good character, your capacity, and your capital. Character includes your willingness to repay loan, they will ask how long you have been at your job, how long have you lived where you lived, and do you pay bills on time. Capacity simply includes whether you can pay the loan or not. Capital includes the stuff you own, and in general the things that you own of value in case you need to sell and pay off debt.

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