Managing Your Money - Managing Your Money Managing Your...

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Managing Your Money Managing Your Money Consumer : someone who buys a product or service Have rights and responsibilities 2 types of income: Disposable Income money that remains after all taxes on it have been paid Discretionary Income the money remaining after paying for necessities. Consumerism : movement to educate buyers about purchases and to demand better/safer products from manufacturers Congress has passed laws like Fair Packaging and Labeling Act Better Business Bureau - private group that seeks to protect individual consumers Caveat Emptor “let the buyer beware” 5 Consumer Rights (1960’s) Right to a safe product Right to be informed (labels, ads, etc.)
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Unformatted text preview: Right to choose – Right to be heard – Right to redress (obtain payment from manufacturer if a product causes physical/financial damage) • Consumer Responsibilities: – Gathering info/ recognizing quality – Use advertising carefully (to learn about products and the best place to buy them) – Deciding where to buy a product • Comparison Shopping • comparing types/prices of products at different stores – Balancing cost of buying used items, items by mail, or other alternative method – Filing complaints/Reporting Problems • Warranty • the promise of a manufacturer or a seller to repair or replace a faulty product within a certain time period...
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  • Fall '10
  • Daniels
  • Law, Taxes, Consumer, Caveat Emptor

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