Module 4 Consumption. What is it?. Society of mass production and consumption People who possess a lot of buying power are admired Consumer demand is stimulated through marketing techniques The act of using goods and services to satisfy needs and wants. Opposite of production
This is one of the most recognizable symbols of popular culture.
The first coke was sold in 1886. For the year 1886-1887 the company sold nine bottles per day,
Since then the Coca Cola company sells 1.5 billion drinks daily
Coca Cola is one of the largest multinational corporations employing over 90 000 people and operating in over 200 countries.
There are somethings money can't buy.
For everything else there's ............
A Diamond is Forever
Wii would like to play
Strong enough for a man,
made for a woman
The best a man can get
Have a Happy Period
The three C’s of credit
Ex: mortgage, bank loan, credit card
Debtor: person who has to repay the money that was given to them.
Creditor: institution that gave the money
Ex: banks, credit card companies
Short term debts: money owed in which the debtor can pay off easily/regularly
Ex: phone bill, gas, groceries, etc.
1. Design a Personal Plan
See a financial advisor
Create a budget and reduce expenses
Consolidate (unite all debt) and use a personal loan
Destroy credit cards
Sell some assets
Renegotiate with creditor
This option will allow the debtor to keep their property
Creditor takes back goods that were purchased
All payments that have been made on the debt are now lost to the debtor
Debt no longer exists
Exists only in Quebec
Debtor arranges to have a percentage of his/her salary with the Provincial Court
The percentage is determined by the court
Money will be used to pay off debts
Debtor admits that debts cannot be repaid
Debts total more that debtors assets
Debtor turns over all assets to a trustee, who will divide it among the creditors.
Debtors can keep necessities and tools needed to have an income
All debts a cleared except: fines, student loans, alimony/child support)
Lasts 9-18 month, most have a fresh start afterwards
Puts you in control
Determines discretionary income (left over after all expenses)
Helps manage debt and monitor your costs
1) List your estimated income
Net income (money left after taxes and deductions on payment)
Gifts, allowances, and other sources of income
BE HONEST, don’t include any income that is not certain
Fixed expenses (regular bills). Ex: phone bill, hydro, insurance, rent/mortgage
Variable expenses. Ex: clothing, luxuries, entertainment
NOTE: there will be unexpected expenses (ex: repairs, medical, etc.). Therefore, having a savings will help with these.
Total your expenses and your income
Subtract your expenses from your income.
If there is a surplus this means you have successfully created discretionary income for yourself.
If you cannot make ends meet you will have to readjust your expenses