Journal Entry #6: Digital Business

     The most surprising thing I found about this unit was the amount of protection that PayPal offers, as they keep all of your personal information safe. The hardest information to locate during this unit was about what you would do if an item you ordered form PayPal didn't arrive at your doorstep, as I had to search through the Terms of Service.

     As of right now, I have never bought or sold anything online, but my aunt and sisters have. The only problems they've had with online shopping have been about figuring out exchange rates and waiting for the product to arrive.
      Two Digital Business Tips That I think are important are:

  1. When buying online sometimes prices seem too good to be true so be careful of LARGE SHIPPING COSTS designed by the seller to get the real price through trickery
  2. If you have a credit card they often come with large interest rates. Consider getting a "credit line" at the bank and transferring credit card purcahses to the credit line ASAP to take advantage of the LOWER INTEREST RATES. Example: If you buy a $400 iPod on credit card the annual interest rate could be 14%. However if you transfer that debt to a credit line with interest rate of 6.5% you are saving 7.5% which could add up to a lot of money saved.

     These are important tips as they help you save money, and help you avoid being tricked by sellers.
     
     When it comes to online selling/buying, the biggest issue for young people is the cost. Many people forget to check the exchange rates and shipping  costs, and end up paying more than they intended to for a product.

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