Easy Come, Easy Go Love Your Money Jayne McBurney Family & Consumer Sciences Agent

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Presentation transcript:

Easy Come, Easy Go Love Your Money Jayne McBurney Family & Consumer Sciences Agent

Buying Power Young Adults spend.... $3 billion on entertainment More than $11 BILLION on snacks and beverages $5 billion a year on clothes and shoes $4 billion on personal care (Alloy Media & Marketing and Harris Interactive, 2009 ) Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

and...media junkies Laptop 57% Cell phones 88% 94% age use the Internet ( )

Marketing Price Product Placement Promotion

Price & Product Different models for different stores – TVs, clothing, appliances Martha Stewart, Martha Stewart

Placement & Promotion

Why we Buy... Blend in/Stand out Brand Personality Fashion Knowledge Value Seeking/Investment Comfort of brands – safe purchase Noble, S., Hayatko, D., Phillips, J. What drives college-age Generation Y consumers? Journal of Business Research 62(2009)

Avoid Impulse Buying ( buying without intention, spontaneous, immediate) Do I need it? Have I compared prices? Can I get is cheaper: BOGO,coupons Cost of gas to get there Know what you CAN spend Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

How to Avoid “Retail Therapy”: 1. LIST 2. Eat first 3. Shop alone 4. Time limit 5. CASH 6. No Drama!

30 day List....anything over $100 Most people don’t plan to fail they simply fail to plan. Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

ORGANIZE! Set aside for fixed expenses: Car - payment, gas, insurance Rent/Mortgage School costs Savings…a little bit adds up Envelopes for flexible expenses: Food Entertainment Clothing

Plan Expenditures Make a decision: buy shoes vs. concert tickets How much are each? Can you get both? Comparison Shop!!!!!!! Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

Cool outfit Shorts Graphic Tee Flats TOTAL Mall Store $177 Target/Walmart 12.99/ / /8.00 $107/$61 GCF/Secondary Less than $29!!!! Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

The 3 Rs Reality…..$ is limited Responsibility…save it or blow it Restraint…delayed gratification Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

Helpful Websites groupon.com twongo.com LivingSocial.com SouthernSavers.com Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577