Personal Finance - Chapter 7 - Dave Ramsey

Being married (or emotionally attached) to a purchase will cause you to lose bargaining power.

• True

• False

Joe tries to bargain at an electronics store but is unable to negotiate the price down. What should his next step be?

• Ask about 90-days-same-as-cash

• Shut up

• Walk away

• All of the above

The ability to walk away from a purchase when negotiating

• Walk-away power

• Buyer's advantage

A public sale in which property or items of merchandise are sold to the highest bidder

• Thrift store

• Auction

Having to do with a person's honesty and moral attributes

• integrity

• impulse

Shopping for bargains is part of a healthy financial plan because it makes your hard-earned money go further.

• True

• False

Making informed choices as a consumer will usually yield savings.

• True

• False

Which of the following is not recommended if you are trying to make your money go further?

• Buying clothing at end-of-the-season sales

• Buying only name-brand products

• Negotiating for a lower price

• Comparison shopping

In certain circumstances, it is okay to stretch the truth to get a bargain.

• True

• False

Getting the best deal on a purchase involves doing all of the following except

• having patience

• negotiating

• being first in line for a new product

• shopping around to find the best deal