11 Contents Chapter Manage Your Money Section 11.1 Be a Smart Consumer Section 11.2 Spending and Saving Basics

Section 11.1 Be a Smart Consumer Evaluate advertisements and carefully consider what you want and need from the products you purchase. 2

Content Vocabulary Academic Vocabulary consumer advertisement trend media service endorse

Teens as Consumers Teens spend their money on goods (products made for sale) and services. Teens must recognize and evaluate influences to become a smart consumer. service Work performed for others. consumer A person who buys goods and services. 4

Buying Decisions Influences on buying decisions can include: habits. advertisements. endorsements. friends. family. trends. advertisement A message that persuades consumers to buy a product or service. endorse To approve openly; to recommend. trend A temporary fashion or product; a current style or preference.

Advertising The media uses advertising to influence consumers by presenting goods and services in an attractive way. media A form of conveyance or expression; communication that advertisers use.

Advertising Advertisements can provide public service information or information on new products. Some ads try to persuade consumers to buy products based on the image or lifestyle they seem to represent. Think about an advertisement you saw recently. What image did it convey to try and persuade you to buy the product?

Advertising Evaluate ads and get more information before making purchases.

Section 11.2 Spending and Saving Basics Shopping skills, consumer rights and responsibilities, and money management help you spend and save wisely.

Content Vocabulary Academic Vocabulary impulse buying merchandise comparison shopping guarantee shoplifting income expenses budget credit merchandise expire

Shopping Skills Recognize good values to help you save money. Resist impulse buying to avoid wasting money. You can buy from a variety of stores, or online and from catalogs. impulse buying Making a sudden decision to buy something one did not plan to purchase. 11

Shopping Skills Describe six different types of stores. Store Description Sell clothing, shoes, household items, and electronics. Often offer some services such as gift wrapping. Department store Specialty store Sells only a specific type of merchandise. Chain store Store with several locations that sell the same merchandise. Usually sells only one manufacturer’s products; merchandise may have slight defects. Factory outlet Offers a selection of items at low prices; includes membership warehouses and thrift stores. Discount store

Shopping Skills Research products, read labels, and compare prices before you buy. Check for guarantees when considering a purchase. Generic products are often comparable to brand-name products. guarantee A manufacturer’s written promise to repair or replace a product if it does not work as claimed. 13

Your Consumer Rights and Responsibilities Consumers have rights to protect them from false advertising and unsafe products. Consumers need to be courteous and honest when shopping and purchasing. 14

Your Consumer Rights and Responsibilities Shoplifting is a serious crime that affects all consumers and sellers. When returning a product: know the store’s policy. keep receipts. be ready to process your claim. shoplifting Taking items from a store without paying for them. 15

Money Management One key to money management is to remember that your expenses must be less than your income. expenses The goods and services on which one spends one’s money. income The amount of money one earns or receives regularly.

Money Management Examine your goals before you set up a budget. You can pay for purchases by check, layaway, debit card, and credit card. Credit cards must be used with care. budget The amount of money that is available for or assigned to a particular purpose; a plan for using one’s money. credit A method of payment allowing one to buy now and pay later.

Chapter Summary Section 11.1 Be a Smart Consumer Teens spend their money to buy goods and services. As a consumer, you must decide what to buy, where to buy, and when to buy. An advertisement is a message that persuades consumers to buy a product or service. Family, friends, and the media influence your buying decisions. Before you decide to buy a service or product, analyze the advertising claims and get as much information as possible. 18

Spending and Saving Basics Chapter Summary Section 11.2 Spending and Saving Basics Skillful shoppers get the best value for their money. Today’s consumers have many shopping options. Consumers have rights and responsibilities. Be courteous, follow instructions, and get the information you need to be a responsible consumer. The key to managing your money is to save more than you spend. Set up a budget that includes a savings plan. 19

Review Do you remember the vocabulary terms from this chapter? Use the following slides to check your knowledge of the definitions. The slides in this section include both English and Spanish terms and definitions. Start

A person who buys goods and services. consumer consumidor A person who buys goods and services. Persona que compra bienes y servicios. Show Definition

A message that persuades consumers to buy a product or service. advertisement anuncio A message that persuades consumers to buy a product or service. Mensaje que persuade a los consumidores a comprar un producto o servicio. Show Definition

A temporary fashion or product; a current style or preference. trend tendencia A temporary fashion or product; a current style or preference. Una moda o producto pasajero; un estilo o preferencia del momento. Show Definition

medios de comunicación media medios de comunicación A form of conveyance or expression; communication that advertisers use. Una forma de transmitir o de expresar; comunicación que utilizan quienes trabajan en publicidad. Show Definition

impulse buying compra impulsiva Making a sudden decision to buy something one did not plan to purchase. Tomar una decisión repentina de comprar algo que uno no tenía previsto comprar. Show Definition

Evaluating similar items to check quality and price. comparison shopping comparar al comprar Evaluating similar items to check quality and price. Evaluación de artículos similares para comparar calidad y precio. Show Definition

guarantee garantía A manufacturer’s written promise to repair or replace a product if it does not work as claimed. Promesa escrita del fabricante de un producto de repararlo o reemplazarlo si no funciona. Show Definition

Taking items from a store without paying for them. shoplifting hurto en tienda Taking items from a store without paying for them. Tomar artículos de una tienda sin pagar por ellos. Show Definition

The amount of money one earns or receives regularly. income ingresos The amount of money one earns or receives regularly. La cantidad de dinero que uno gana o recibe con regularidad. Show Definition

The goods and services on which one spends one’s money. expenses gastos The goods and services on which one spends one’s money. Los productos y servicios en los que uno gasta su dinero. Show Definition

budget presupuesto The amount of money that is available for or assigned to a particular purpose; a plan for using one’s money. La cantidad de dinero que está disponible o es asignada a un fin particular; un plan para utilizar el dinero. Show Definition

A method of payment allowing one to buy now and pay later. credit crédito A method of payment allowing one to buy now and pay later. Un método de pago que permite comprar ahora y pagar después. Show Definition

Work performed for others. Trabajo realizado para otras personas. service servicio Work performed for others. Trabajo realizado para otras personas. Show Definition

To approve openly; to recommend. Aprobar abiertamente; recomendar. endorse apoyar To approve openly; to recommend. Aprobar abiertamente; recomendar. Show Definition

Products available to buy. Productos disponibles para comprar. merchandise mercancía Products available to buy. Productos disponibles para comprar. Show Definition

To come to an end; to conclude. Llegar a su fin; acabar. expire expirar To come to an end; to conclude. Llegar a su fin; acabar. Show Definition

End of Chapter 11 Manage Your Money