The Goderich Signal-Star, 1969-10-30, Page 13•
, a
:Floe iti,B,Cs of
credit buying
Do you buy.,on credit?
There was a time when that
question would have been
considered an •„impertinence but
• not so today. Credit buying has
become an accepted part of our,
way of life. It enables people to
have and use things, they need
while. still paying for them. Used
wisely, it can be helpful. ,
Yes, credit is a convenience.
• But used unwisely it can lead to
• real problems. No matter how
easy the terms, Consumers'
Association, of Canada suggest
you keep in mind. that credit
costs money. So don't get
carried away and buy things on
• impulse just because no down
payment is required or because
the payments are small.
Remember you will have to pay
the full price in the end plus the
credit which is higher when no
down payment is made or the
• payments are stretched over a
longer period of time to keep
them low.
Before you borrow, ask
yourself what the cost of your
loan will .do to your budget.
Think it ovex before you sign.
Look at the total cost (purchase
price, plus finance charges) of the
article and take into
consideration — will it save you
money or just cost you more in
the long run? Some things., like a
refrigerator or a washing
• machine can .mean savings, while
the purchase of a car involves
many other expenses to
maintain and run it in addition
to the original purchase price.
Take yotir time considering a
deal, because you'll be taking
• • lots of time to. pay for it.,
•
•
•
0
•
You should shop for creedit as
carefully as you shop for goods.
If you can get credit on
reasonable terms — terms that
you fully understand and can
meet out of your income, well
4 and good. • But if you accept
credit ' terms with excessive
interest charges, hidden service
charges and other extras, too
many "easy credit terms"
purchases can empty your
pockets a lot quicket than you
can fill them. Remember, the
ancient slogan, "caviat emptor"
means "buyer beware,"
applies particularly well to credit
_purchases.
• ,
•
•
V
You may wonder how to
know when you are being
charged a reasonable rat e for
credit. As a matter of fact i very
few consumers do know.
Comparatively few people know
how to compute interest rates or
how to fincr out just how much
of their monthly payments is for
interest and how much of their
monthly payments is going
towards reducing the debt.
One method of figuring the
true annual interest rate on a
credit purchase has been
embodied into a formula in the
1966 truth -in -lending raw of the
state of Massachusetts. This
formula may be used to help
you find out just what you will
be paying in interest, and to find
the best way as far as credit is
concerned. It only takes a
moment once you are familiar
with the formula and it may
help you make a wise decision.
Annual interest rate equals
twice the number of payments
per year (4 quarterly, 12
monthly, or 52 weekly).
Multiplied by the finance charge
in dollars, divided by the
principal, multiplied by the
number of instalments necessary
to pay off the debt plus one.
Now for an example:
Suppose you bought a
television set listed on .sale at
$300. Be sure to ask for all the
information you need to work
with the formula. Suppose you
P,gree to pay 12 monthly
payments of $28.50 each. The
total cost of the TV set is
$28.50 x12, or $342. The dollar
cost of credit is $342 minus
$300 which is $42. P is 12; C is
$42; A is $300; N is 12.
So the annual rate of interest
(R) is: 25.8%.
For a free mimeographed
leaflet titled "Credit Costs
Money" write: "Credit,"
Consumers' Association of
Canada, 100 Gloucester Street,
Ottawa 4. •
R = 2 x 12 x 42 = 1008
390 (12+1) 300 x 13
• •
or
c4,
GODBliI9,14IGNAL-STAR, THURSDAY, OCTOBER 30. 1900 .4
October selected as
bulb planting month
Ontario's Horticulture
Societies have selected October
as Bulb Planting Month, as this is
the best time to plant bulbs that
will ensure a colorful early
spring to dispel winter gloom.
Russ Gornme, secretary of
the Ontario Horticultural
Association, Ontario
Department of Agriculture and
Food, recommends that a sunny,
well drained garden is the best
' location for spring bulbs, which
should be planted. in mid
autumn, early enough for them
to root before severe weather
sets in. The planting area should
also be reasonably protected
from winds. A suggested group
planting isbetween evergreens,
in a rock garden of in front of a
shrub border.
The depth to plant bulbs
depends upon their size.
Crocuses should be planted to a
depth of about 3 inches, while
7-8 inches is the best depth for
tulips.
The soil should be we0
prepared before planting,, and
the , addition of farmyard
manure, compost or peat moss
will keep the soil open to
encourage better rooting. A
complete fertilizer such as
5-20-20 is also recommended,
and this should be applied at the .
rate of ;pounds per 100 square
feet.
. Tulip beds should be covered
with a mulch of straw, leaves or
peat for the winter. Four inches
of mulch applied when the
ground begins to freeze, should
help to maintain an even soil
temperature and prevent severe
deep freezing.
SAVE
DOLLARS'
ON OUR
SPECIA1S
ON
ELECFROliONIE -
HUMIDIFIERS
AND
EUREKA
VACUUMS
Al'•
Hutchinson
Radio — TV — Appliances
30$ Huron Rd. 524.7$31
WINTER
AHEAD
BOYS' WINTER
SPORTSWEAR
- Photo by MALAK, Ottawa.
Gold Collar is anew daffodil without a clearly defined trumpet.
Safety tips for Hallowe'en
The three main Halloween
hazards are poor visibility, fires
and falls.
Many , masks are unsafe
because ' children can't see
properly out of the narrow eye
slits. The- maks can also slip,
causing possibly dangerous total
obstructions of view.
Makeup masks, over a cold
cream base for ease of removal,
provideTull vision. The costumes
themselves should be
light-colored to make it much
• easier for motorists to see
• children although ' the, addition
of re flectOrized tape greatly
increases the visibility of all
colors of costumes.
Turning to the fire hazard,
paper costumes bought for the
kids' big night out should bear
markings indrcating
non-flammable material. Cl6th
costumes made at home can be
flame-psoofed by soaking them
in a solution of four ounces of
boric acid, nine ounces of borax
and a gallon of warm water.
• Falls are a major hazard
because costumes are bften too
R = 1008 =
•
3900 Should you
25.8%
The Last Day of Colborne Township's
CHRISTMAS COUNTRY FAIR
. A display and ,sale of local arts and crafts by the
"Country Crafts" and artist craftsmen of Huron
_County at
Colborne Township Hall, Carlow
SATURDAY , NOV. 1
2 - 9 P.M. CONTINUOUSLY
BAKE SALE • TEA FREE ADMISSION
For bus'information call Mrs. R. Bean 524-9871.4BLises will
leave early if demand warrants it.
-Special Saturday evening • attraction includes door prizes,
:musical entertainment by Ernie F'frimmer and Margery
Taylor of Benmiller accompanied by Mrs. Barry Millean.
There's lots to see at the Fair right up till closing time.
reduce? •
If you look around you,
those people who are overweight
are _ obvious. However, a
_joun2taijiof flesh is not the op,ly
indication of overweight. Your
fifteen extra pounds or that
"pleasingly plump" may mean
you too are overweight.
• Nutritionists, from
Macdonald Institute, University
of Guelph, give this guide to
determine if you are overweight.
Consult • a reliable weight
table (Many life insurance
companies have these), to•check
ideal weight.
Compare your present weight
with this ideal.
If you'are 20 percent or more
overweight, you should reduce.
If you are 10-20 percent over,
this ideal and have a tendency to
heart disease, kidney disease,
gout, or .diabetes, you should
reduce to normal weight or less.
If you are over 40 years of age
• and have Out on excess weight,
you might profit by reducing to
the normal weight for 25-30
years of age. If you are of
normal weight, do not try to
reduce.
Do not'attempt, to reduce on
your own. Consult a physician
to give you the best and correct
method to lose your excess
weight.
-
How your
Texaco home team
beats the
winter cold.
This is new Texaco
Forced Warm Air Fur-
nace.
It is designed to en -7
sure the complete 'com-
bustion o4 every drop of
oil. So you get maximum
heat at minimum cost.
'Especially 'since oil costs
you less than other fuels in the first
place. ,
.. Choose frorueveral
models. '
• All are fully guaran-
teed, and available on
long, easy term pay-
ment plans.
If you need one, let's
talk about it.
We'll see that you always
have the home comfort you desire.
Day and Night.
Our teamwork keeps the heat on.
HOFFMEYER PLUMBING & HEATING LTD.
O
55 Kingston St. • oderich, Ontario
Phone 524-7861
VK WALDEN FUELS
Goderich, Ontario
148 Maitland Rd. S.
Phone 524-8812
long and children's footing
insecure in ma's pumps or pop's
brogans. If weapons are part of
the costume, they should be
made of cardboard so only •the
prop • gets damaged in an
accident.
Parents can help prevent falls
by making sure their porch lights
are on and the porches cleared
-of debris.
W. J. Denomme
FLOWER
SHOP
Phone
524- '
8132
DAY
OR
NIGHT
Agent for 24 -hr.
SKI JACKETS
DUFFEL COATS
WESTERNS
DRESSV
STURDY OUTERS
Warm Cosy Linings—Reasonably Priced
10.98 Up
LADIES'
CAR COATS
You'll find wools, corduroys and
simulated fur fabrics. All both
stylish and practical.
19.95 Up
I' A
A Complete Stock of Ladies'
WINTER GLOVES & HEADWEAR
• Dozens To Choose Fromt
GERRARD'S
FILM DEVELOPING
GODERICH
••
Or,
Get your 11%*
Canada Savings Bonds
at the Commerce.
Well make it easy
r you.
*If held to maturity.
, .
• • 4.4
.14
• • ' ••.r. 4
4.•
1.1
• HOME COMFORT
.1 4
Canada. It's a great land.
Canada Savings Bonds let you
own a piece of it.
CANADIAN IMPER1ALJE BANKOF COMMERCE