Chapter 27Shopping Versus Buying

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Chapter Objectives

1. Identify differences between shoppers and buyers

2. List and describe five shopping skills of a wise consumer

3. Explain how credit cards and interest work

4. Describe what to do in case of identity theft(continues)

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Chapter Objectives (continued)

5. Explain reasons why teenagers are a popular target for advertisers

6. Describe how health insurance works

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Introduction

• Buying and spending money may be easy, but shopping wisely and getting the most for your money are important adult skills

• Developing the skills to use your money wisely is an important task

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Consumer Skills

• Understanding product information

• Decision making

• Shopping versus buying

• Developing shopping skills

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Wise Shopping Skills

• Know what you are looking for

• Know your budget

• Gather key information

• Compare your options

• Purchase your best option

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Money Management

• Checking accounts

• Savings accounts

• Credit cards

• Prepaid cards

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Identity Theft

• Thief uses your personal information to access your financial resources

• One of the fastest growing crimes

• Know what to do if your wallet or purse is stolen

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Paying for Health Care

• Insurance

• Other forms of payment

• How it works

• Control of health care costs

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Summary

• Good consumer skills are wellness skills

• Work to develop your skills and practice using them

• Health care is expensive and understanding insurance and payment systems is important