1. 27 year old – pay off debt in 2 years http://www.theglobeandmail.com/globe- investor/personal-finance/home-cents/this- 27-year-old-repaid-28115-in-debt---in- under-two-years/article12202772/ http://www.theglobeandmail.com/globe- investor/personal-finance/home-cents/this- 27-year-old-repaid-28115-in-debt---in- under-two-years/article12202772/

2. Introduction to Personal Finance Read pages 368-380 answer questions 5-9 pg. 374 & questions 10, 11,13 pg. 380

3. 5. List and define the three types of personal income? Gross Income: the total amount of income receive by a person. Disposable Income: Take home money after all of your deductions, ie. Taxes, pension plan, employment insurance Discretionary Income: Income that is left after necessities have been paid for, ie. Groceries, clothing, computer, gifts

4. 6. Name the five factors that affect buying decisions.. 1. Income and price 2. Status 3. Current trends 4. Customs and habits 5. Promotion

5. 7. Define conspicuous consumption. Provide an example. The desire to flaunt purchases and to impress others

6. 8. Explain why being influenced by peer pressure when making purchasing decisions can be costly. Latest fashions always change and you need to replace outfits that are still like new

7. 9. What is lifestyle advertising? Provide an example. Shows attractive, healthy, successful people using the product or service. The ad suggest that if you use the product or service you will be like the ideal people and your lifestyle will improve Examples: clothing ads for designer lines – Calvin Klein

8. 10. Describe the factors to be considered when comparison shopping Compare – price, quality, and special features

9. 11. What are some advantages of comparison shopping? What are some disadvantages? Advantage: so that you will get better value for your money Disadvantage: Takes time

10. Describe the differences between a promotional sale and a clearance sale. Promotional sale – retailer wants to get you in the store, and buy other products not on sale Clearance Sale – end of season or make room for new merchandise sale – less selection