Value of Money and Budgeting Review 9-23-30

What is important to your family, others in your culture?

• Feelings

• Value

• Family

• Peers

You are accustomed to doing it this way

• peers

• value

• feelings

• habit

(love, anger, frustration, ambivalence, rejection)

• feelings

• family

• value

• peers

Choosing the first option that comes to mind; giving little or no consideration to the consequences of the choice.

• Agonizing

• Desire

• Intention

• Spontaneity

changes in the buying power of the dollar, inflation

• GDP

• Consumer spending

• Consumer prices

• Synthesis

funds available for spending in the economy

• Housing starts

• Money supply

• Stock market index

• Interest rates

The Decision Making Process

• Gather information

• Evaluate the results

• Consider consequences

• Identify the problem

Giving up something that may involve time, health, or energy.

• financial opportunity costs

• personal opportunity costs

• professional opportunity costs

• family opportunity costs

funds available for spending in the economy

• Money supply

• Interest rates

• Housing starts

• Avoidance

Going along with family, school, work, or peer expectations.

• Spontaneity

• Procrastination

• Compliance

• Intention