Podcast
Questions and Answers
Budgeting or Being a consistent consumer is the most crucial things to do as a rational shopper.
Budgeting or Being a consistent consumer is the most crucial things to do as a rational shopper.
False
Always prioritize needs over wants because it will be much more practical to not overspend our money.
Always prioritize needs over wants because it will be much more practical to not overspend our money.
True
When you have cash in your wallet instead of going cashless, you tend to use it all for as much as the amounts exists in it, yet still consider it as under budget purchase.
When you have cash in your wallet instead of going cashless, you tend to use it all for as much as the amounts exists in it, yet still consider it as under budget purchase.
True
Purchasing an expensive items should have come along with a complete question list that includes at least “THE 5 WH” questions in it to avoid an impulsive purchases.
Purchasing an expensive items should have come along with a complete question list that includes at least “THE 5 WH” questions in it to avoid an impulsive purchases.
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Other than going out shopping with a hungry stomach, comparing each item to see which should have been purchased was also another reason the mood was ruined for a shopper.
Other than going out shopping with a hungry stomach, comparing each item to see which should have been purchased was also another reason the mood was ruined for a shopper.
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Study Notes
Budgeting and Rational Shopping
- Prioritizing needs over wants is essential for practical financial management.
- Cash-based purchases can lead to overspending, as individuals tend to use all available cash.
- Having physical cash can create a false sense of being under budget.
- Effective budgeting involves asking questions before making expensive purchases, including the "5 WH" questions (Who, What, Where, When, Why).
- Impulsive purchases can be avoided by asking these questions.
- Shopping on a hungry stomach can negatively impact a shopper's mood and decision-making.
- Comparing multiple items to decide which one to purchase can also ruin a shopper's mood.
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Description
Test your knowledge and skills in budgeting and being a consistent consumer with this insightful quiz. Explore the importance of managing your finances wisely and making informed purchasing decisions. Get ready to enhance your shopping savvy!
