1. NEEDS vs WANTS NEEDS Essentials…the basics of life Food Clothing
Shelter

2. NEEDS vs WANTS
WANTS
Simply increase the quality of living

3. Values A belief or idea that you consider important or desirable.
Family
Friends
Work
Honesty
Self Reliance
Independence
Religion

4. Decision Making
Managing money involves decision making—wants, needs, values…
Decision making is the process of gathering and analyzing information in order to make a decision.

5. Factors that Can Influence Your Goal Setting and Decision Making
What “things” (factors) come up in your life on a regular basis that influence your decisions?

6. Factors that Influence Decisions
Family
Age
Feelings (love, anger, rejection)
Risks
Values
Peers
Habits
Consequences

7. Emotional Factors Related to Peer Pressure
Gossip
Acceptance
Disapproval
Insecurities
Boyfriend/Girlfriend
Sarcasm
Fear
Clubs
Athletics
Cliques
Rich/Poor

8. Marketing, Advertising and Sales Strategies/Techniques
People who sell products and services are fishing for customers. They lure them in with sales, coupons, and other enticements. Unlike fish, consumers can benefit in this situation – if they know how to take advantage of special purchasing opportunities.

9. Click here to see what Bank High School says about opportunity cost.
The highest valued alternative given up when a decision is made.
This cost, often called a trade-off, may involve one or more of your resources:
Time
Money
Effort
Click here to see what Bank High School says about opportunity cost.