NEEDS, WANTS, DECISIONS
What is the PACED Model used for?
decision making
What is the difference between a debit card and a credit card?
Debit cards are used to pay now; credit cards are used to pay later.
Roach Motel, Hidden Fees, and Privacy Zuckering are examples of what?
Dark Patterns
What is the purpose of the FAFSA?
The Free Application for Federal Student Aid is used to determine the amount of financial aid a student will receive from the government to help pay for college.
"A written way of tracking income, expenses and goals"
Budget
Who created the Hierarchy of Needs?
[give first & last name]
When was it first published?
Abraham Maslow
1943
What does inflation do? What does it affect?
Raises prices
Consumer spending (goods and services)
Liking, Reciprocity, and Scarcity are examples of what?
Influences in Advertising
Fill in the blanks to create the formula for finding the cost of attending college.
_________ price - _______ _____ = _____ price
STICKER price - FINANCIAL AID = NET price
The stock market, real estate, and cryptocurrency are all ways a person could _________ their money.
invest
List what the acronym PACED stands for
Problem
Alternatives
Criteria
Evaluation
Decision
Rent, car payments, and wi-fi bills are examples of what?
fixed expenses
Subscribe to our weekly sales newsletters!
No thanks, I like paying full price.
This is an example of what?
Confirm-Shaming
Describe the differences between loans, scholarships, and grants.
Loans must be paid back.
A scholarship is merit-based.
A grant is need-based
What is "diversification"?
investing in various opportunities
Which of the following would align with the “E” in the PACED model/acronym?
Cost, Travel Time, Things to Do
Carly is trying to figure out where she should go on vacation.
City, Beach, Amusement Park, Camping
Carly should go to the city.
+ , - , or another type of ranking system
+ , - , or another type of ranking system
What is the difference between a stock and a bond?
Stocks- ownership in a company
Bonds- loaning $ to a company
Describe the difference between dark patterns and influences in ads.
Dark patterns are used to trick consumers through websites/apps.
Influences in Ads are used to convince consumers through advertisements/commercials.
Your friend has chosen what college they’re going to attend and says they want to lower the total amount of money they’ll have to budget for while in school.
What should you tell them to focus on?
Give BOTH definitions of "Deposit"
1) Put money into bank
2) down payment
List the tiers of the Hierarchy of Needs from TOP TO BOTTOM.
Self Actualization
Esteem
Belonging and Love
Safety
Physiological
Name 3 variable expenses.
Credit Card Payments
Grocery Costs
Personal Care Costs
Healthcare
Dining Out
What 3 strategies are being used?
Buy NOW for the low price of $25!*
LIMITED TIME OFFER!
THOUSANDS ALREADY SOLD!
+$5 (taxes)
+$15 (shipping)
+$10 (handling)
Scarcity (limited time offer)
Social Proof (thousands sold)
Hidden Fees (taxes/shipping/handling)
List 4 requirements to qualify for the Millennium Scholarship.
- Attend NV high school
- Live in NV for 2+ years of high school
- Go to a college in NV
- 3.25 cumulative high school GPA
- Required high school courses (4 ELA, 4 Math, 3 Social Studies, 3 Science)
- 3.6 GPA once in college
Describe the difference between simple and compound interest.
simple interest: money that builds up over time
compound interest: interest on interest