1. that affect financial decisions
Factors
that affect financial decisions $ $

2. Family factors Family structure Income level Lifestyle Size Age
Stage of life cycle
Health status
Emergencies

3. Cultural factors Cultural and ethnic groups impact Values Beliefs
Lifestyle
Family structures
Clothing choices
What are the advantages and disadvantages of cultural diversity within a family, a school, a workplace, a community?

4. Social factors Education level Family structure Immigration Ethnicity
Rural, urban, suburban community
Peer pressure
Community relationships and involvement

5. Societal and demographic factors
Demography is the statistical characteristics of a population
Age
Sex
Race
Birth, marriage, death rates

6. Economic factors Employment rate Kind and number of jobs available
Inflation
A period of rapid increase in the price of goods and services
Recession
An extended period of slow economic growth
Government Regulations
Fiscal policies affect personal & business spending

7. Technology The use of mechanical or electronic devices to manipulate
Information (Ie. Computers, Ipads, Fax machines, fiber optics, GPS systems)
Objects (i.e Robots, automated assembly lines, hybrid cars)
On going change impacts
Training needs
Replacing obsolete technology
Types of jobs available

8. The media
Media
Communications that reach large audiences with the aid of publication devices that include
Internet
Television
Voice, text, & data transmissions
Publications
Impacts the ways people and businesses communicate and operate locally, nationally, and globally.

9. The marketplace Supply Goods and services available to the consumer
Demand
Consumer desire to purchase as compared to availability
Market response
How quickly the market adjusts to supply versus demand

10. Legal and moral factors
Laws that impact spending
Taxation
Investment and Retirement Accounts
Insurance requirements
Beliefs in what is right and wrong
What is appropriate behavior of employers, employees, and individuals at home, work, and within the community.
Charitable giving and Service

11. Personal factors Needs Items to survive – food, clothing, & shelter
Wants
Not essential but desirable – cell phone, Music CDs,
Values
A person’s belief about what is important and desirable