1. 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