Financial Literacy Ch. 1

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

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

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

The value your money generates in the market.

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

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

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

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

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

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

Money management is not essential to meet financial goals.

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

A financial summary of anticipated income and expenditures.

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

Your income will depend on your ___ and your ___.

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

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

BOGO stands for

A person or organization that uses a commodity or service.

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

The highest valued alternative not taken in an economic decision.

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

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

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