Question of the Day: $750 Playstation 5 Bundle on credit...If you make the minimum payments, how long before this credit card bill is paid off?

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Dec 14, 2020
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Question of the Day, Credit Cards

Answer: 5 Years and 9 Months

 

Questions:

  1. Considering the cost of this Playstation 5 Bundle, do you think this is a good idea? Explain your answer.
  2. What big-ticket items or once-in-a-lifetime experiences do you think are worth spending money on?
  3. How could you reduce the amount of time required to pay off this credit card bill?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

 

Behind the numbers (from Bankrate):

The PS5 may be the hottest video game console of the year. Sold out basically every store, you find a PS5 bundle for $750 and buy it on credit. Did that impulsive purchase to knock another item off your holiday shopping list still feel like a good one? 

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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.