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Buyer Beware Discussion Questions & Case Studies due 04-24-2008
Type the Discussion Questions on page 87 of your Financial Peace Workbook and answer them in a complete sentence. Also, type the Case Studies on page 87 of your Financial Peace Workbook and answer them in a complete sentence.
13 comments:
DISCUSSION
Have you ever fallen for financing as a marketing tool? How?
-No i haven't.
Have you ever purchased something and then felt guilty afterward? Explain.
-No not that i can think of.
How does advertising affect you buying decisions?
-If somthing is advertised alot and alot of people have it and say it works then it could influence you to buy it alot.
What is the biggest "impulse purchase" you have ever made?
-I guess when i bought my PSP.
If you owned a business, how would you market your product?
-I would pay to advertise it on cmmercials or let a few people have it for free to show of to their friends so their friends would come purchase it.
CASE STUDIES
Bret and Emily are looking to but a new couch and the one thy want is $999. They only have $200 saved, but they can get it 6 months same as cash. They figure they could buy the couch and save up the extra $799 over teh 6 months and save the intrest by paying it off earlly. Is this a good idea? What would you do?
-No this is a bad idea. I think that they should wait and save up all the money before they buy it and pay for it all in cash. They are not going to die if they don't have a couch for a little while.
Sherry is looking to buy a car but only has and extre $275 per month in her budget. She has found a dealer that will lease her a very nice care for $225 per month over 4 years. She is very excited because not only is she getting a niche car, but she is also saving $50 per month in payments. What could be better? What would you say to Sherry if she asked for your opinion?
-I would tell her to go ahead. It is a good idea and i would do it if i had a chance.
1. have you ever fallen for financing as a marketing tool? how?
i really havent made it that far in my life to have a finance.
2. have you ever purchased something and then felt guilty afterward? how?
i dont think i have ever felt guilty for buying anything. sometimes i feel guilty when i ask my mom for money.
3. how does advertising affect your buying decisions?
well when a commercial comes on tv and its something you really want and the commercial is praising it. its really hard not to go buy it.
4. what is the biggest "impulse purchase" you have ever made?
why did you purchase the item?
i really dont have an impulse purchase yet. but have went to a store not wanting to buy something but did.
5. if you owned a business, how would you market your product?
on tv, on billboards, radio, everthing that would persue the consumer.
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, but thay can get it 6 months same as in cash. They figure they could buy the couch and save up to $799 over 6 months and save the interest by paying it off early. is this a good idea? What would you do?
i say they should wait until they have all the money at one time.
2. Sherry is looking to buy a car but only has an extra $275 per monthin her budget. She has found a dealer that will lease her a very nice car for $225 per month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 per month in payments. What could be better? What would you say to Sherry if she asked for your opinion? she needs to wait for her budget to increase before a big buy.
1. Have you ever fell for financing as a marketing tool? How?
I don't think so.
2. Have you ever purchased something and then felt guilty afterward? Explain?
Yes. I bought a 25 dollar game with only 80 dollars to spend on my mom for her birthday.
3. How does advertising affect your buying decisions?
If something looks good enough I'll buy it. If it looks like it would help me out, I'll purchase it.
4. What is the biggest "impulse purchase" you have ever made? Why did you purchase the item?
I bought a 10 dollar C.D. at Wal-Mart. I purchased the item because that particular band happened to the bomb.
5. If you owned a business, how would you market your product?
I would use the television, billboards, and the newspaper.
Case Studies...
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 dollars aved up, but they can get it up to 6 months same as cash. They figure they could buy the couch and save up the extra $799 over 6 months and save the interest by paying it off early. Is this a good idea? What would you do?
No. This idea is horrible. I would tolerate the couch I had until i had enough money saved to buy the new couch.
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. SHe has found a dealer that will lease her a very nice car for $225 a month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 dollars per month in payments. What could be better? What would you say to Sherry if she asked for your opinion?
It would be better if she found her a good used car. Then she could save up more money and buy the car all together for a cheaper price.
Discussion
1. Have you ever fallen for financing as a marketing tool? How?
I’m too young to be doing finances and things like that.
2. Have you ever purchased something and then felt guilty afterwards? Explain.
Yes, I bought a lot of clothes I didn’t need and felt bad that I spent that much money on things I didn’t need.
3. How does advertising affect your buying decisions?
If they don’t explain the product well enough, I don’t want to bother with it.
4. What is the biggest “impulse purchase” you have ever made?
When I walk into the mall and see a new bathing suit at American Eagle, I have to have it.
5. IF you owned a business, how would you market your product?
I would do a lot of advertisement.
Case Studies
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, but they can get it 6 months same as cash. They figure they could buy the couch and save up the extra $799 over the 6 months and save the interest by paying it off early. Is this a good idea? What would you do?
I think they are doing the right thing to go ahead and buy the couch and save the rest of money.
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease her a very nice car for $225 per month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 per month in payments. What could be better? What would you say to Sherry if she asked for your opinion?
I would tell her to go ahead and get the car she wants because she is getting a good deal with it.
Discussion
1. Have you ever fell for financeing as a marketing tool? How?
-No. Im too young for all that.
2. Have you ever purchased something and then felt guilty afterwards? Explain.
-Yes my motorcycle. It was kind of expensive, and after i bought it it ended up being a piece of junk. Now i really regret it.
3. How does advertising affect your buying decisions?
- Not really all that much. I dont buy that much stuff.
4. What is the biggest "impulse purchase" you have ever made? Why did you purchase the item?
- My motorcycle once again. BBecuase i was really excited to get a motorcycle and i didnt care what kind it was.
5. If you owned a business, how would you market your product?
- I would market it over the television or on the internet. People are always on them two things and i knwo the advertisement would get seen.
Case Studies
1. Bret adn Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, buthtey can get it 6 months same as cash. They figure they could buy the couch adn save up the extra $799 over the 6 months and savd the interest by paying it off early. Is thsi a good idea? What would you do?
-I dont think it was a very good idea. I would have just waited till i had all of the money saved up then went and bought it.
2. Sherry is lookign to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease her a very nice carfor $225 a month over 4 years. She si very excited because nto only is she getting a nice car, but she is also saving 50 per month in parments. What coulb be better? What would you say to Sherry if she asked for your opinion?
-If she just fount her a nice used car. I would tell ehr to save the $275 every month until she has enough to buy a preused car.
Type the Discussion Questions on page 87 of your Financial Peace Workbook and answer them in a complete sentence. Also, type the Case Studies on page 87 of your Financial Peace Workbook and answer them in a complete sentence.
1. Have you ever fallen for financing as a marketing tool? How?
-I haven’t ever I don’t think.
2. Have you ever purchased something and then felt guilty afterward? Explain.
-I didn’t feel guilty, I felt as if I shouldn’t of bought it. It was just a couple of shirts I didn’t need.
3. How does advertising affect your buying decisions?
-It makes you want to buy it more. Not me, but I’m just saying.
4. What is the biggest “impulse purchase” you have ever made? Why did you purchase the item?
-I think some candy. I don’t really buy big things I don’t think about before I purchase it.
5. If you owned a business, how would you market your product?
-I would use honesty and fairness.
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, but they can get it 6 months same as cash. They figure they could buy the couch and save up extra $799 over the 6 months and save the interest by paying it off early. Is this a good idea? What would you do?
-I would wait and save up a lot of money so if you bought it you would have enough money left over for other things.
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease her a very nice car for $225 per month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 per month in payments. What could be better? What would you say to Sherry if she asked for your opinion?
-I would go ahead and buy it since she is saving $50 per month. The saved up money could help later on.
Discussion
1. Have you ever fallen for financing as a marketing tool? No, I haven't.
2. Have you ever purchased something and then felt guilty afterward? Actually, yes, I have. Explain. Once, I bought a virtual pet toy from a store. When I read the instructions to it, I felt guilty about making the purchase.
3. How does advertising affect your buying decisions? It can affect my decisisons positively and negatively.
4. What is the biggest "impulse purchase" you have ever made? I really wanted a CD player. Why did you purchase the item? I wanted to listen to my music CDs.
5. If you owned a business, how would you market your product? I would put ads in books, on television, and on the Internet.
Case Studies
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, but they can get it 6 months same as cash. They figure they could buy the couch and save up the extra $799 over 6 months and save he interest by paying it off early. Is this a good idea? No, it's a bad idea. What would you do? Tell them, "You need to buy a cheaper couch."
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease her a very nice car for $225 per month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 per month in payments. What could be better? Sherry could lease a car for $175 per month. That way, she could save $100 in payments. What would you say to Sherry if she asked for your oppinion? Lease a car for $175 per month. That's the easy way to lease a car and save money.
Case Studies:
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, but they can get it 6 months same as cash. They figure they could buy the couch and save up the extra $799 over the six months and save the interest by paying it off early. Is this a good idea? What would you do?
-I would just make do with the couch I had and keep saving for the couch or just look for a cheaper couch. I wouldn’t take the chance on having to pay all that interest that the salesperson is going to end up charging you.
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease her a very nice car for $225 per month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 per month in payments. What could be better? What would you say to Sherry if she asked for your opinion?
-I would tell her just to keep saving up money. Apparently she doesn’t know that leasing a car is the most expensive way to buy a car. She should just save up her money and buy and a slightly used car. Otherwise she is going to end up paying probably triple what the value of the car actually is.
Discussion:
1. Have you ever fallen for financing as a marketing tool? How?
-Not that I know of. No.
2. Have you ever purchased something and then felt guilty afterward? Explain.
-Yes. One time I bought a game for myself when I owed my dad a fishing pole. I knew I should have bought him a pole but I wanted the game.
3. How does advertising affect your buying decisions?
-It doesn’t really.
4. What is the biggest “impulse purchase” you have ever made? Why did you purchase the item?
-I think it was a Gameboy when I was little. I bought it because I really wanted it and I thought it was cool.
5. If you owned a business, how would you market your product?
-If I could afford it, I would make commercials about it. If I couldn’t, I would make flyers or something like that and post them around town.
Discussion
1. Have you ever fallen for financing as a marketing tool? How?
-no i dont think so.
2. Have you ever purchased something and then felt guilty afterward? Explain.
-no i look for a good deal and save up my money for somethin then im gonna buy it.
3. How does advertising affect your buying decisions?
-it helps me to see whats out there and whats the best.
4. What is the biggest "impulse purchase" you have ever made?
-um
probly my subs but they were a great deal.
5. If you owned a business, how would you market your product?
-it would be a small business so probly posters and a couple of billboards around here.
Case studies
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, but they can get it 6 months same as cash. They figure they could buy the couch and save up the extra $799 over the 6 months and save the intrest by paying it off earlly. Is this a good idea? -NO!
What would you do?
-I wouldn't buy it till i had the money.
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease her a very nice car for $225 per month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 per month in payments. What could be better? What would you say to Sherry if she asked for your opinion?
-look for a cheaper car or get another part time job to have a lil extra money.
Discussion
1. Have you ever fallen for financing as a marketing tool? How?
No I have not.
2. Have you ever purchased something and then felt guilty afterwards? Explain.
No I do not believe so.
3. How does advertising affect your buying decisions?
it helps persuade your mind.
4. What is the biggest “impulse purchase” you have ever made?
I guess my tires for my truck.
5. IF you owned a business, how would you market your product?
I would do a lot of advertisement and have people that talked about it on the radio.
Case Studies
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, but they can get it 6 months same as cash. They figure they could buy the couch and save up the extra $799 over the 6 months and save the interest by paying it off early. Is this a good idea? What would you do? It isn’t a bad idea. I would just wait and get it when I had all of the money.
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease her a very nice car for $225 per month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 per month in payments. What could be better? What would you say to Sherry if she asked for your opinion?
I would tell her as long as she had the money to get it but if she doesn’t have the money don’t get it.
Olivia clay 4/24/08
*Discussion
1. Have you ever fallen for financing as a marketing tool? How?
*No . I might in the future though.
2. Have you ever purchased something and then felt guilty afterward? Explain.
*Yes. I bought a lot of clothes. I felt guilty because two weeks later was my brothers birthday.
3. How does advertising affect your buying decisions?
*If the shelves are set up right you might buy something you want instead of what you need and what you came their to buy.
4. What is the biggest “impulse purchase” you have ever made?
Why did you purchase the item.
*The same time I bought all those clothes. I really actually needed them though.
5. If you owned a business, how would you market your product.
*I would set my product up in different places of the store so more passerby’s would see it.
*Case studies
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, but they can get it 6 months same as cash. They figure they could buy the couch and save up the extra $799 over the 6 months and save the interest by paying it off early. Is this a good idea? What would you do?
*They don’t need a new couch . They want one . If they are financially stable and don’t have any other problems to worry about, I think they should get the couch. If they wouldn’t rather do more important things with their money . I would keep saving my money.
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease her a very nice car for $225 per month over 4 years. She is very excited because not only is she getting a nice car , but she is also saving $50 per month in payments. What could be better? What would you say to sherry if she asked your opinion.
*I would tell her to take that deal. The extra $50 per month could add up to help pay your payments off. If you don’t NEED a new car then you might want to consider the idea for just a little while longer.
1. Have you ever fell for financing as a marketing tool? How?
No, I don’t believe I have.
2. Have you ever purchased something and then felt guilty afterward? Explain?
Yes. I bought candy and a red bull instead of buying my brother something. I gave it to him.
3. How does advertising affect your buying decisions?
If something looks good enough ill think about it. If it looks like it would help me, I'll buy it.
4. What is the biggest "impulse purchase" you have ever made? Why did you purchase the item?
I bought a 40 dollar dress were I worked. I love that dress.
5. If you owned a business, how would you market your product?
I would use the billboards, TV, and the newspaper.
Case Studies...
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 dollars saved up, but they can get it up to 6 months same as cash. They figure they could buy the couch and save up the extra $799 over 6 months and save the interest by paying it off early. Is this a good idea? What would you do?
No. This idea is stupid. I would deal with the couch I had until I had enough money saved to buy the new couch.
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease her a very nice car for $225 a month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 dollars per month in payments. What could be better? What would you say to Sherry if she asked for your opinion?
It would be better if she found her a desent used car. Then she could save up more money and buy the car all together for a cheaper price.
1. Have you ever fallen for financing as a marketing tool? How?
No, but I know what to look for now.
2. Have you ever purchased something and then felt guilty afterwards? Explain.
Yes, I bought electronics I didn’t need with the money I was going to use on family. I got most them for Christmas 2 days later.
3. How does advertising affect your buying decisions?
If I am not given enough info on the product and see actual results, I won’t buy it.
4. What is the biggest “impulse purchase” you have ever made?
I bought an XBOX 360 when it first came out.
5. IF you owned a business, how would you market your product?
Advertisement and Examples with real results.
Case Studies
1. Bret and Emily are looking to buy a new couch and the one they want is $999. They only have $200 saved, but they can get it 6 months same as cash. They figure they could buy the couch and save up the extra $799 over the 6 months and save the interest by paying it off early. Is this a good idea? What would you do?
Yes, but keep up with where the money is moving.
2. Sherry is looking to buy a car but only has an extra $275 per month in her budget. She has found a dealer that will lease a very nice car for $225 per month over 4 years. She is very excited because not only is she getting a nice car, but she is also saving $50 per month in payments. What could be better? What would you say to Sherry if she asked for your opinion?
A. Well, not a leased car.
B. Wait until you are able to buy a car, there are other ways to get places if you need it that badly
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