Personal Finance Chapter 5 (Newest)

Example of discretionary spending.

• Utilities & food

• Trasportation

• Monthly Rent

• Nonessential foods and services

Example of fixed expense.

• Groceries & gas

• Rent for an apartment

• Online gaming subscription

Example of intermittent expense.

• Groceries & gas

• Purchase a yearbook

• Rent for an apartment

Why do stores like scan and go options, apps, and one-click purchases?

• It is harder for customers to pay, so they end up saving money.

• It makes paying easier and faster, so customers are more likely to overspend.

• Digital pay is the way of the future, and retail stores like being ahead of the times.

When someone steals and uses your debit card info, that's called_______.

• Networking

• Borrowing

• Fraud

What is "power over purchase?"

• You are powerless in the face of an impulse purchase.

• You can make decisions very quickly when it comes to purchasing items.

• You are able to slow down and think through your motives before buying something.

To think big picture, you need to understand that...

• The best way to have more money is to have contentment.

• The best way to be content is to have more money.

• Your goals are less important than buying the latest and greatest stuff.

Companies use marketing to get your prefrontal cortex offline so you'll be vulnerable to impulse purchases.

• True

• False

Americans spend over ________ a year on impulse purchases.

• $2000

• $1,200

• $2,100

What is the digital marketing strategy that tracks users across the web?

• Retargeting

• Native ads

• YouTube videos

• Content marketing