Discovering Life Skills ©2010

Chapter 11: Manage Your Money

Check Your Answers: After You Read

Section 11.1 Be A Smart Consumer

1. What to buy, where to buy, and when to buy.
   
2. Advertising, friends, trends, and habits.
   
3. Information ads and image ads.
   
4. Answers will vary depending on product or service selected. Reports should include product descriptions, how they are advertised in the two media chosen, and what the similarities and differences are in the advertising method.
   
5. Online advertising reaches consumers in the form of banners, pop-up ads, and spam. Consumers can make instant purchases from Web sites created by established brick-and-mortar companies, or they can buy from companies that exist only online. Unlike traditional advertising, the consumer is usually in control of the ads he or she wants to view.
   

Section 11.2 Spending and Saving Basics

1. Read labels. Compare prices and brands. Inspect merchandise. Find out if the manufacturer will replace or repair the item.
   
2. Responsible consumers are polite. If there is a problem, calmly explain the problem and how you would like to resolve it.
   
3. A savings plan helps you put money aside for unexpected needs and future use. Plan ahead and save regularly to achieve your financial goals.
   
4. Pamphlet designs will vary, but should include information from the chapter about savings, written in a way that teens will understand.
   
5. Answers will vary by state. Sample answer: The “Lemon Law” varies from state to state, but in general it refers to laws protecting consumers against the purchase of vehicles found to be persistently defective.