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Essay / Research Paper Abstract
This 2.5-page paper analyzes the greatest family resource management issue facing American families in today's current economic crisis. There are 3 sources cited.
Page Count:
3 pages (~225 words per page)
File: PG56_GPAresources.rtf
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Unformatted sample text from the term paper:
listed below. Citation styles constantly change, and these examples may not contain the most recent updates. Resource Management Research Compiled for The
Paper Store, Inc. by P. Giltman 5/2010 Please Triggered by a liquidity crisis in the banking system, the United States
economy has affected all walks of American life. It has resulted in the collapse of large financial institutions, the bailout of banks by national governments and downturns in stock markets
around the world. In many areas, the housing market has also suffered, resulting in numerous evictions, foreclosures and prolonged vacancies. It is considered by many economists to be the worst
financial crisis since the Great Depression of the 1930s. It has contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial
financial commitments incurred by governments, and a significant decline in economic activity. Many causes have been proposed including the collapse of the housing bubble, subprime lending and billions of dollars
of taxpayer bailouts. In addition, as consumer spending was once at an all-time high before this current economic crisis, American families are now facing the issue of paying off exorbitant
amounts of debt that they have accumulated over the years. Estimates show that the average American household with at least one credit card has nearly $11,000 in credit
card debt (CNN Money, 2010). In addition, the average interest rate for paying this debt down runs in the mid to high teens. The results of not paying this debt
on time are that the credit card company will charge a late payment penalty, which typically ranges from $10 to $40. The late payment penalty itself increases the amount of
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