Personal Finance

Front 1

Impulse buying

Back 1

unplanned buying, instead comparison shop

Front 2

Open dating

Back 2

freshness or shelf life of perishable product, ex: use before may 2011 or not to be sold after.

Front 3

Types of warranties:

Back 3

full or limited warranty : usually written

Implied warranty of merchantability: fit for normal use (not written)

Service warranty: aka extended warranty.


*written guarantee from manufacturer, specifies conditions under which product can be returned are repaired.

Front 4

Service contract

Back 4

agreement btwn. business and consumer to cover the repair costs of a product

Front 5

Consumer complaints

Back 5

because defective products, low quality, short product lives, unexpected costs,, deceptive pricing, and poor repairs

Front 6

Consumer buying process

Back 6

based on economic factors: consumer process, interest rates, supply and demand, brand name, product quality,

Social factors: lifestyle, culture, attitude, ads, media/ interest, hobbies, peer groups,
personal factors: sex and age, marital status, occupation, income, education, ethnic group, and religion, family size

affect budgeting (planned spending saving) spending path if overspending potential misuse of credit and financial difficulty goes back to overspending. Appropriate spending goes to achievement of financial goals, via saving path (investments etc)

Front 7

Product label

Back 7

look for info on label and opendating (freshness) private label and store brand items can result in extensive saving over time.

Front 8

Cooperative

Back 8

nonprofit org. where members save money on certain products . ie credit union.

Front 9

Mediation

Back 9

use of a 3rd party to settle grievances btwn. 2 parties through discussion and negotiation

Front 10

arbitation

Back 10

settlement of differences by a 3rd party whose decision is legally binding.