Más contenido relacionado La actualidad más candente (20) Similar a 6.06 smart consumer spending (20) Más de Jamie Norton, MEd (11) 6.06 smart consumer spending2. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 2
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Planned Buying Process
Prioritize
Wants
Conduct
Research
Spending Plan
Evaluation
Make the
Purchase
From
Initial desire to buy
To
Satisfaction after the
purchase
3. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 3
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Planned Buying Process Principles
Apply it
each time
a purchase
is made
Ongoing
cycle
Essential
consumer
skill
4. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 4
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Durable vs. Consumable Goods
Durable
Does not
quickly wear
out
More
expensive
(typically)
Cell phone,
automobile
Consumable
Item is
consumed in
the present
Less
expensive
(typically)
Food, fuel,
cosmetics
What are
examples of
durable and
consumable
goods?
5. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 5
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Applying the Planned Buying Process
Investing time typically
results in greater
satisfaction and is a
positive financial
management practice
Process applies, but less
time is spent
Durable
Consumable
6. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 6
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Prioritize Wants
Distinguishing
between needs
and wants
results in
Ability to prioritize
spending decisions
Your present self impacts your future self
7. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 7
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
When Prioritizing Wants
Analyze the opportunity cost and trade-offs
Examine the impact on your spending
plan
Consider personal and social factors
influencing your choice
How do personal and social factors influence individuals?
8. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 8
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Conduct Research
Conducting
research
helps you…
Identify the
best option
Be satisfied
with the
purchase
9. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 9
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Information Sources
Be a critical
consumer!
Seller
Consumer
Reports
Appropriate
Licenses
Product
Reviews
What are
questions critical
consumers ask?
10. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 10
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Consider Purchasing Options
Used vs.
New
Store vs.
Name Brand
Where to
Purchase
When to
Purchase
Do-it-
Yourself
Depending on the item, several options may exist:
What are example of items available as used or store-brand?
11. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 11
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Consider Product Features
Safety Ratings
Expected
Durability
Maintenance
Required
Hidden Costs Warranties
Environmental
Impact
What are product features of automobiles?
12. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 12
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Product Price
Prices vary
widely across
sellers
Different
version of the
same product
may be
available
Rank the
priorities of
different
product
features
Determine
which option
provides the
most desired
features at the
lowest cost
Option 1:
Price:
Option 2:
Price:
Option 3:
Price:
Rank features in order of
importance
Place a if the option includes that feature.
13. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 13
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Spending Plan Evaluation
How will you pay for the item?
Will this become a contractual expense?
What is the trade-off to this purchase?
What is the cost of ownership?
Before making the purchase, evaluate your spending plan:
What is an item you currently use that has a cost of ownership?
14. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 14
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Cost Per Use
$100 prom dress
Worn once
Cost per use:
$100
$100 pair of
jeans
Worn weekly
for a year
Cost per use:
$1.92
$65 monthly
gym
membership
Visited 15
times per
month
Cost per use:
$4.33
How can cost per use influence purchasing decisions?
15. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 15
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Make the Purchase
Sales Personnel
• Be comfortable with
him/her
• Prepare yourself in
advance to negociate
Seller
• Make sure they are
reputable
• Ask about their refund,
return or cancellation
policies
When making the purchase,
be confident with the company and staff!
16. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 16
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Online Purchases
Online Purchase
Use only secure
sites
Use a credit card
(not a debit
card)
Review shipping
and return
policies
Save
documentation
What are principles to making a safe online purchase?
17. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 17
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Redress
If you are not satisfied with
your purchase:
Evaluate sellers return
policy
Learn if there laws that
protect consumers for the
specific item
Process of righting a wrong
18. © Take Charge Today – August 2013– Smart Consumer Spending – Slide 18
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona
2.6.6.G1
Summary
The planned buying process should be used for all
purchases
The amount of time spent on this process will vary
Consumers have a variety of product options
Be a critical consumer to maximize satisfaction