easy come, easy go love your money jayne mcburney family & consumer sciences agent...
TRANSCRIPT
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Easy Come, Easy GoLove Your Money
Jayne McBurneyFamily & Consumer Sciences Agent
http://johnston.ces.ncsu.edu/
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Buying Power
Young Adults spend....
$3 billion on entertainment
More than $11 BILLION on snacks and beverages
$5 billion a year on clothes and shoes
$4 billion on personal care(Alloy Media & Marketing and Harris Interactive, 2009)
Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577
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and...media junkies
Laptop 57% Cell phones 88%
94% age 18-29 use the Internet (http://pewinternet.org/Reports/2012/Digital-differences.aspx )
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Marketing
• Price
• Product
• Placement
• Promotion
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Price & Product
• Different models for different stores –
TVs, clothing, appliances
• Martha Stewart, Martha Stewart,
Martha Stewart
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Placement & Promotion
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Why we Buy...• Blend in/Stand out
• Brand Personality
• Fashion Knowledge
• Value Seeking/Investment
• Comfort of brands – safe purchase
Noble, S., Hayatko, D., Phillips, J. What drives college-age Generation Y consumers? Journal of Business Research 62(2009) 617-628
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Avoid Impulse Buying( buying without intention, spontaneous, immediate)
• Do I need it?
• Have I compared prices?
• Can I get is cheaper: BOGO,coupons
• Cost of gas to get there
Know what you CAN spend
Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577
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How to Avoid “Retail Therapy”:1. LIST
2. Eat first
3. Shop alone
4. Time limit
5. CASH
6. No Drama!
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30 day List....anything over $100
Most people don’t plan to fail they simply fail to plan.
Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577
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ORGANIZE!Set aside for fixed expenses :• Car - payment, gas, insurance• Rent/Mortgage• School costs• Savings…a little bit adds up
Envelopes for flexible expenses:• Food• Entertainment• Clothing
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Plan Expenditures
• Make a decision:buy shoes vs. concert tickets
How much are each?Can you get both?
Comparison Shop!!!!!!!
Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577
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Cool outfit
Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577
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The 3 Rs
• Reality…..$ is limited
• Responsibility…save it or blow it
• Restraint…delayed gratification
Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577
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Helpful Websites
• groupon.com
• twongo.com
• LivingSocial.com
• SouthernSavers.com
Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577