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Unit 4 - Fin Mgmt

Consumer Spending

TermDefinition
What is the best way to count money? 1. Separate the bills and coins from highest to lowest. 2. Count them
What is the best way to make change? Start with the purchase price and count up to the given amount, first with coins then bills.
What payment options do consumers have? Cash and credit
What types of cash are there? 1. Currency (coins and bills) 2. Checks 3. Debit Cards
What are the three types of purchases? 1. Retail (in-person at a store) 2. Electronic (online purchases) 3. Vending Machines (snacks, RedBox, etc.)
How do you find sales tax? 1. Change the percent to a decimal 2. Multiply the decimal by the price 3. Add the amount to the price
How do you find a sale price? 1. Change the percent to a decimal 2. Multiply the decimal by the price 3. Subtract that amount from the original price
How do you find a unit price? Total Cost divided by Total Quantity
What are the rules for making purchases? 1. Plan Before You Shop 2. Comparison Shop 3. Use Incentives Wisely
Created by: clsteve3