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Real-life issues in buying and selling

Real-life issues in buying and selling. Warm-Up Questions CPS Questions 1 - 2. Note for teacher: Use “Pick a Student” button in CPS. Lesson Overview. Shopping issues in daily life Renting or leasing an apartment Buying or leasing a car. Quick Write.

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Real-life issues in buying and selling

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  1. Real-life issues in buying and selling

  2. Warm-Up Questions CPS Questions 1 - 2 Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 3

  3. Lesson Overview • Shopping issues in daily life • Renting or leasing an apartment • Buying or leasing a car Chapter 1, Lesson 3

  4. Quick Write You have finally earned enough money to purchase your first car. List four things on a separate sheet of paper that you would consider prior to purchasing a car, and be prepared to share your list with the rest of the class. Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  5. Four Steps in Smart Shopping • Separate your wants from your needs • Do your research • Make your purchase • Maintain your purchase Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  6. Shopping Online • Trust your instincts • Be knowledgeable about web-based auctions • Be suspicious of prices that are too good • Read the privacy policy • Understand return, refund and shipping policies • Use a secure Internet connection • Print and save any records of your contact with the seller Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  7. Tips for Grocery Shopping • Plan your meals and make a list • Watch for sales • Buy store brands • Stick to budget • Don’t shop hungry • Don’t impulse buy • Minimize processed foods • Buy in bulk, if the price is right • Clip coupons Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  8. Learning Check Questions CPS Questions 3 - 4 Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 3

  9. Activity 1: Mnemonics • On the worksheet provided create a mnemonic for recalling Online Shopping or Grocery Shopping tips. • Be prepared to share your answers with the class. Chapter 1, Lesson 3

  10. Comparison Shopping • Compare prices and quality • Use unit pricing when comparing products sizes • Make sure to look at expiration date Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  11. Tips for Buying Food Items - Produce • Excellent source of vitamins • The darker the green or brighter the orange, the more the vitamins • Purchase fruits and vegetables in season to save money • Store produce in plastic bags so they won’t dry out • Don’t be put off by appearance Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  12. Tips for Buying Food Items – Meat Products • Beef • Best grade of beef and most expensive is prime • Pork • Most popular cuts are ribs, roasts, and chops • Lamb • Most popular cuts are leg, chops, rack, and loin • Poultry • Main types of poultry are chicken and turkey • Fish • The sale of seafood is not regulated by the US government Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  13. Tips for Buying Food Items – Other Food Items • Canned and packaged goods have a long shelf lifeso you can stock up during a sale • Some types of milk have more fat than others, check the fat content before purchasing • Always check the expiration date before buying eggs • You can buy cheese in several forms, but it will save money to buy in blocks and slice or grate it yourself • Frozen foods are regularly on sale Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  14. Shopping for Clothing • Don’t overspend • Mix and match • Shop discount stores • Shop online • Don’t buy latest fashion • Be careful of good sales • Don’t shop just to shop • Buy at the end of season Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  15. Learning Check Questions CPS Questions 5 - 6 Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 3

  16. Activity 2: Comparison Shopping • Review weekly sales flyers for local grocery stores. • On the worksheet provided determine the best location to shop for each item. • Be prepared to share your answers with the class. Chapter 1, Lesson 3

  17. Renting or Leasing an Apartment • Over the short term, renting an apartment is often less expensive than buying • Renting can be necessary when you don’t have money for a down payment • Renting is also a good idea when you are unsure about an area • Tenant • A person who rents an apartment • Landlord • Apartment owner Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  18. Searching for an Apartment • Explore various neighborhoods where you may want to live • Determine what size apartment you want • Determine how much rent you can afford • Look in the newspaper and online advertisements for apartments to rent • Make sure you are compatible with your roommate Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  19. Searching for an Apartment • Real Estate Agent • A professional who helps buy, sell, or rent homes and apartments • Lease • An agreement to pay rent and fulfill other obligations for a certain length of time • Security Deposit • A payment to make sure you meet your obligations as a tenant Chapter 1, Lesson 3

  20. Tips for Apartment Hunting • Don’t rush into anything • Ask whether utilities are included • Monthly rent and utilities should be no more than 30% of your gross income • Most apartments are unfurnished • Understand moving costs • Bring someone with you • Discuss any safety concerns • Pets may require a pet deposit Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  21. Learning Check Questions CPS Questions 7 – 8 Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 3

  22. Activity 3: Apartment Search • On the worksheet provided make a list of criteria for a new apartment. • Research apartments using your criteria using the Internet. • Be prepared to share your answers with the class. Chapter 1, Lesson 3

  23. Choosing a Car • What kind do you need? • How much can you afford? • Should you get a new car or a used one? • If you’ve decided on a used car, what kind of condition is it in? • What kind of insurance will you need? • What kind of resale value will the car have? • How much will repairs cost? • What is the financing rate? Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  24. Buying or Leasing a Car Disadvantages of Leasing • No equity • Extra fees for additional mileage • Additional lease fees • Costs more to lease than buy Advantages of Leasing • Lower Down Payment • Lower Monthly Payment • No need to find a buyer Chapter 1, Lesson 3 Photo courtesy of Shutterstock

  25. Learning Check Questions CPS Questions 9 – 10 Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 3

  26. Activity 4: Should You Buy or Lease? • On the worksheet provided create a comparison chart for buying vs. leasing a car. • Be prepared to share your answers with the class. Chapter 1, Lesson 3

  27. Summary • Shopping issues in daily life • Renting or leasing an apartment • Buying or leasing a car Chapter 1, Lesson 3

  28. Review Questions CPS Questions 11 - 12 Note for teacher: Use “Pick a Student” button in CPS Chapter 1, Lesson 3

  29. Next…. • Avoiding the credit trap Chapter 1, Lesson 3 Graphic courtesy of Shutterstock

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