1. Chapter 7 Buying Decisions

2. Slide 2 How Can You Be a Responsible Shopper? 7-1 Designing a Buying Plan Use systematic decision making: consider all the pros and cons of a choice along with the costs. Be financially responsible: plan your earning, spending, and saving to meet your financial goals.

3. Slide 3 What Is a Buying Plan? 7-1 Designing a Buying Plan A buying plan is an organized method for making good buying decisions. Step 1: Define your spending goal. Step 2: Choose the item to buy. Step 3: Define criteria (features, functions, and quality of item you want to purchase). Step 4: Set a timeline. Step 5: Set a spending limit.

4. Slide 4 Buying Plan 7-1 Designing a Buying Plan Spending GoalItemCriteriaTimeline Spending Limit 1. Define your need, want, or spending goal. 2. List the item(s) that will satisfy your goal. 3. Describe the features or items that represent an ideal choice. 4. Identify when your goal should be met. 5. Set an upper limit on how much you can or are willing to spend.

5. Slide 5 Buying Plan for a Washer and Dryer 7-1 Designing a Buying Plan Spending GoalItemCriteriaTimeline Spending Limit To wash clothes at home rather than at a laundromat (saving time and money) Washer and dryer (new or used) Washer should be heavy-duty, have cycles for different kinds of clothes, and have a bleach dispenser. Dryer should be electric (not gas) and have several heat settings. 1 year or sooner $750

6. Slide 6 Building Communications Skills Informal Speaking Express your ideas clearly. Speak clearly. Use standard English. Use proper grammar. Use an appropriate tone. Speak at an appropriate volume. Listen to others and let them respond. 7-1 Designing a Buying Plan