Ramsey Chapter 5 TEST

An example of discretionary spending is...

• Utilities and food

• Transportation

• Monthly rent

• Nonessential goods and services

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

• It's 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 time.

• It's easier for the retail store clerks.

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As as effective marketing strategy, companies pay a lot to ....?

• Have their products strategically placed in the store.

• Get you to dislike their branding.

• Confuse you about their product.

• Choose a brand similar to theirs.

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When someone steals and uses your debit or credit card info, that's called...

• Networking

• Borrowing

• Fraud

• Authorized spending

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What does it mean to develop 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 somethings.

• You have power to purchase what ever you want, and you do so.

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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.

• You can buy happiness.

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

• True

• False

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Americans spend over $2,100 a year on...

• Impulse purchases

• Entertainment

• Groceries and eating out

• Credit card fees.

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

• Retargeting

• Native ads

• YouTube videos

• Content marketing

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Before you insert your debit card at the gas pump, you should always...

• Check out the card reader to see if it looks different, loose, or worn

• Make sure you have enough money in your account

• Ask the store clerk if there has been a their here lately

• Pay cash-never use a card at a gas pump.

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