Financial Literacy Ch. 1

The monetary payment received for goods or services, or from others sources, such as rents, or investments.

Ideally, each purchase involves careful ___, ___, and consideration of the costs and benefits.

Maximize your purchasing power by being an informed consumer. ____ to make major purchases as least ____ .

Your income will depend on your ___ and your ___.

A financial summary of anticipated income and expenditures.

The income you have available to use for spending or saving.

Weighing the pros and cons of a decision before you make it.

Buying used is a way to save money. Where are some places you can buy items that are used?

A cost like rent that is consistent and predictable month to month.

A reflexive form of buying without pausing to weigh alternatives. Spending then thinking.

Marketers create an illusion of urgency that places your immediate statisfaction ahead of long-term sacrifices.

Money management is not essential to meet financial goals.

A person or organization that uses a commodity or service.

The council for Economic Education recommends using economic decision making skills through a 3 step process:

The value your money generates in the market.

Getting the worst price for your money, including the cost of shipping and taxes is called price comparision shopping.

Resource w/ economic value with the expectation that it will provide a future benefit: cash, stock, buildings, property

BOGO stands for

Don't give a company your valuable ___ that will allow tracking of your purchases, or anyone they sell your info to.

The highest valued alternative not taken in an economic decision.

Types of coupons you can use to save money on purchases include:

A cost like groceries, gasoline, and utilities that can change from month to month.

One of the keys to money management is understanding how to control your

Anything can be considered money as long as it can be used to