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Explain what information is most helpful in choosing which product to buy.

Consumer Protection

Outline the purposes and features of consumer protection laws, agencies, and sources of assistance, including identity protection and credit regulations.

Explain ways to avoid identity theft, fraud, financial scams, and schemes designed to defraud consumers.

Discuss the financial and emotional costs of recovering from identity theft or fraud.

Describe possible responses to excessive debt collection practices.

Locate and share credible sources of up-to-date information about consumer rights and responsibilities.

Investigate and report on sources of assistance for resolving consumer disputes.

Demonstrate procedures for filing formal consumer complaints.

Outline steps to resolve identity theft problems as recommended by the Federal Trade Commission and financial institutions.

List entities that have a right to request certain personal financial data.

Investigate and report on consumer safeguards for mobile and online banking.

Consumer Decisions and Behavior

Describe factors that impact consumer purchasing decisions throughout the lifespan.

Explain how limitations on financial resources affect the choices people make.

Explain how consumers can benefit from conducting a cost-benefit analysis before making a financial decision.

Analyze the influence of peer pressure and emotions on purchasing decisions.

Describe how scarcity relates to needs and wants.

Explain the impact of marketing, advertising, and sales strategies or techniques on purchasing decisions.

Apply a decision-making model to maximize consumer satisfaction when buying goods and services.

Categorize possible purchases of goods and services as wants or needs, explaining the reasoning for each decision.

Research and report pros and cons of e-commerce and online auctions.

Analyze the value of warranties, service contracts, and risk protection for a variety of products and services.

Demonstrate how to use comparison shopping skills to make purchasing decisions, including major purchases.

Compare the advantages and disadvantages of owning versus renting property or housing.

Research and report on various types of consumer contracts, indicating each type’s advantages and disadvantages for the consumer.

Calculate cost and finance charges for major purchases.

Research the projected costs for all expenses associated with major purchases, including maintenance costs.

Identify factors that affect the total cost of goods and services, including sales tax, tips, coupons, discounts, and unit pricing.

Explain how sales and property taxes affect financial decisions.

Explain the ways in which individuals are responsible for their finances and situations in which they share responsibility for other people’s finances.

List reasons to consult with a tax advisor or financial planner.

Explain the value of sharing financial goals and personal finance information with a partner before combining households.

Money Management

Demonstrate how to set financial goals and analyze the costs and benefits of spending decisions.