Smart Consumerism

Independent LivingMrs. Rinas

You’re a target!

It is estimated that the average 20-year-old American has seen one million commercial messages throughout his or her life.

Teens are the fastest growing group of consumers.

Teens spend more than $150 billion each year.

Because of this, companies target their advertisements at YOU!

What are your consumer values?When it comes to the following values, where do

you stand?WealthSexBeautyTrue happiness

Does popular advertising influence your behaviors and value system? OR

Does popular advertising reflect your behaviors and value system?

Reality Check

Whether or not you believe it, advertising influences you in more ways that you know!

But don’t let that get you down… there are lots of tools available to help you be a smart consumer.

What does a smart consumer look like?

In your opinion, what does it “look like” when someone is being a smart consumer?

Jot down your thoughts…

Smart Consumers…

Shop with their budget in mind

Understand and keep track of warranties

Are not pressured into buyingUse careful and deliberate judgment in all purchases  Think about potential problems that may occur after the

purchase Do not buy until all questions have been answered

Smart Consumers…

Check on a company’s reliabilityGet word of mouth recommendationsCheck the Better Business BureauCheck consumer products comparison reports

Are aware of return policies

Take proper care of the products they buy

Are great at comparison shopping

What is Comparison Shopping?Simply put, it is, …

GETTING THE MOST FOR YOUR MONEY!

What is “the most”???

Getting “the most” for your money means getting:

1. The highest quality for the price

2. A good price

3. A good warranty

4. Reputable service

1. The Highest Quality for the Price

Research Consumer Reports

Ask friends and neighbors

Research the internetEcompare.comPriceline.comShoppingspot.com

Research the Better Business Bureau

2. A Good Price

Do a price comparison, to see which price is better.

Consumer Reports compares prices of various brandsCheck the internet site or the magazine

Unit pricing helps to determine the price per unitEx: Diet Coke is $7.99/case (24-pack)

Diet Pepsi is $1.50/6-pack

Which is least expensive???

Let’s do the math…

Diet Coke $7.99/case (24-pack) $7.99 divided by 24 = .33 per can

Diet Pepsi $1.50/6-pack To compare, multiply the 6-pack by 4 = 24 cans for $6.00

$6.00 divided by 24 = .25 per can

Diet Pepsi is the better buy!

3. Good Warranty

A warranty (a guarantee) is especially helpful when making large purchases

Full WarrantyProduct will be repaired or replaced, free of charge,

if it fails to perform properly

Limited WarrantyThere will be some charges for the repair or

replacement. The company usually pays for the parts, and the consumer pays for the labor.

4. Reputable Service

The Better Business Bureau has information on businesses that have been fraudulent or had claims brought against them.

Word of mouth is an excellent source of information.

Visit the service center, if available. (ex: Car dealership)

When a product is faulty…

Steps to take:1. Return to the place of purchase.

• Many times they can handle the problem quickly and effectively.

2. Check the manual for repair instructions and locations of service centers.

3. If repairing is not satisfactory, write a letter to the company explaining the problem and the desired solution.

4. If still no solution, call the Better Business Bureau to file a complaint.

Saving Money is in your BEST Interest!

If you learn to be a smart consumer, you will SAVE yourself a lot of money!

You will… Be prepared for emergenciesHave less stress about paying billsStart to secure your financial futureDevelop lifelong habits of savingHave a little leftover for your “fluff stuff” and

your “wants”

Saving $$$ on Clothes

Shave off 1/3 of your clothing bill by shopping the post-season sales.After EasterAfter July 4th

After Christmas

These are the times when retailers discount merchandise and get ready to stock up for the next season.

Saving $$$ on Clothes

Plan your purchases – make a list and don’t shop on impulse.

Bring only the cash you need to buy what’s on your list.

Shop at discount outlets, factory outlets.Get socks, hosiery, underwear, work clothes, and

pajamas at discount stores like Wal-Mart or K-Mart.Buy items that can easily mix and match with current

items in your wardrobe. Don’t buy an odd piece that goes with nothing you own.

If you bought something and you don’t wear it, bring it back for a cash refund.

Saving $$$ on Clothes

Avoid “too trendy” fashions – they’ll be out of style next season.

Buy quality – it will outlast the cheap garment and age with grace. Quality means classic design, good material (cotton,

wool), and good construction.Always try it on before you buy it. If it doesn’t fit

well or make you look good, you won’t wear it.Don’t economize on shoes. One good pair will

outlast 3 cheap pairs and will save you a fortune on podiatrist bills.

Saving $$$ on Food

Read the newspaper. Compare prices between grocery stores.

Clip coupons. When you skip the coupons, you’re easily throwing away $20 a week in discounts.Don’t use coupons to “try” a new product.Use coupons to save on things you use a lot.

Shop aggressively. Visit one store for the specials on meats and another for the specials on produce.

Saving $$$ on Food

Keep away from the convenience store. (Loaf-n-Jug). You pay more for the convenience.

Plan a detailed weekly menu at home. Never plan your meals in the grocery store.

Eat before you go shopping. On an empty stomach, everything looks appetizing.

Make a list and stick to your list.Bring only the cash you need for the items on

your list.

Saving $$$ on Food

Don’t be afraid of the store/generic brand. It is the exact same product, just with a less “flashy” label. BUT – check the unit price, it may not be a savings this

week!Don’t buy non-food items at the grocery store.

Head to Wal-Mart or another discount store for toothpaste, cleaning supplies, cold remedies, and trash bags.

Before you get to the register, look through your basket and put back the things you don’t need.

When you get home, put all the money you didn’t spend in a savings jar – it will add up!

Did you know…?

The average family spends about $5,000 a year on food.Of that amount, $2,000 is spend on

dining out.Dining out can cost more than 3x the

price of preparing the same meal at home!

Take the time to cook – you might even find that you enjoy it!

In Review…

As a teen, you are targeted by advertisers who try to influence your decisions.

Be firm about your values, and how they affect your consumer choices.

Comparison shopping means “getting the most for your money”:Look for the highest quality for the priceLook for a good priceHold out for a reliable warrantySeek out business with reputable customer service