Notes

1. Buying Decisions
Make Good Choices

2. Objectives
• Purchasing Choices
• Buying Plan

3. Purchasing Choices
• Impulse Buying
– When you do not think about a purchase ahead
of time
• Buying Plan
– Evaluate needs and wants
– Gather information
– The “Purchase”
– Evaluate the purchase

4. Step 1
Evaluate Needs and Wants
• Think about items you really want or need
• Set Criteria
– standards or rules by which something can be
judged
– Ex: features, functions, and quality
• Set a timeline
• Set a spending limit
– maximum amount you are willing to pay for an
item

5. Buying Plan
Need/Want Item Item Criteria Timeline Spending Limit
Shoes Tennis shoes Cushion By Nov. $70
Arch support
Cell phone Type of Camera By Dec. $60
phone Keypad
texting
Clothes for Dress/ Pretty/affordable March $200
prom tuxedo

6. Step 2
Gather Information
• Comparison shopping
– Know your options
– Internet
• Good place to do product research
– Rebate
• Refund part of the purchase price of an item
– Payment

7. Each purchase involves 2 choices
Can you name them?
What to buy
How will you pay

8. Step 3
Make the Purchase
• Good condition
• Check warranties
• Keep receipts
• Return policy

9. Step 4
Evaluate the Purchase
• Are you satisfied?
• Do you feel good about the $ spent?
• Does it meet the need or want?

10. It’s Your Money
You are In Charge!!