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2.02personal finance
Protecting Your Financial Security
| Term | Definition |
|---|---|
| Failure to plan | Not making shopping lists,spending plans,doing comparison shopping,etc. |
| failure to protect | Not securing personal information and property |
| failure to be informed | Not reading labels,fine print,contracts,sales offers, etc. |
| failure to communicate | Not asking questions, discussing purchases, saying "no" when needed |
| scam/scheme | A plot designed to trick someone;a deception |
| illegal | Against the law |
| lie/lying | To tell an untruth/the habit or practice of telling untruths |
| concealing information | Hiding information; hiding the truth |
| pyramid | A scam that usually involves a "get rich quick" chain letter spending money to others in order to, supposedly, receive money in the mail yourself |
| chain letter | A letter asking one to send several letters with money to other to supposedly, receive money in the mail yourself |
| high-pressure sales apporach | Using extreme tactics to persuade a consumer to buy |
| vague offers | Offers that withhold certain details, expecting one to pay up front to get them |
| sweepstakes letter | States that one has won a valuable prize, but must pay a fee to claim it |
| lottery | Prizes awarded by chance after purchase of a ticket;very small chance of winning |
| earn-money-at-home offers | offers that hinge on a consumer first purchasing something |
| condition | A stipulation or prerequisite |
| winning bid at auctions | A scam artist my notify you that you have the winning bid, ask for money, but never ship the item purchased |
| identity theft | Stealing one's personal information to commit theft or fraud |
| media | Means of communicating--e.g.,word of mouth, telephone,texting,emails,etc. |
| federal trade commission | FTC;a government agency to assist consumers who've been victims of fraud |
| national consumers league | Has a website where incidents of consumer fraud may be reported |
| better business bureau | A local consumer protection agency |
| state attorney general | This state office assists consumers who have been victimized by fraud |
Created by:
Joynermo1
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