Money Management

Consumer Rights and

Responsibilities, Consumer
Complaints, Fraud and Insurance
Are you a wise consumer??
Gathering Consumer Information
 Questions to ask yourself:
– Quality: Is the product well constructed?
– Cost: What is the lowest price for this product?
– Availability: Where is it available in stock?
– Warranty: If I’m not satisfied, may I return it?
– Reputation: Is the company reputable?
Sources of Information
 Family
 Friends
 Advertising
 Catalogs
 Magazines, Newspapers
 Sales promotions,
Informational brochures
Consumer Warranty

 What parts are covered?

 Does it cover labor?
 How long will warranty
last?
 Who pays shipping if
product needs to be sent
away?
 What is required to keep
warranty in effect?
Consumers
 Rights  Responsibilities
– To safety – To use products safely
 FDA, CPSC
– To seek information
– To be informed
 Protect against false
and use it to make
advertising, etc. decisions
– To choose – To choose goods and
 Competitive pricing, services carefully
monopolies, a variety of
products – To speak up and let
– To be heard likes and dislikes be
 Complain, BBB known.
Complaint Letter

 Share stories of
writing complaint
letters.
Consumer Complaints
 1- Include name, address, home phone, etc.
 2- Person you are writing to.
 3- Important facts about the purchase
 4- Describe the service.
 5- Clarify the subject of complaint
 6- State your expectations.
 7- Include copies of important documents.
Consumer Guidelines
 1- Think about what you
NEED before you buy.
 2- Compare stores
 3- Compare Brands
 4- Check for extra charges
 5- Read and understand the
warranty
 6- Read contract terms
carefully
 7- Read and follow use and
care guidelines
Consumer Guidelines
 8- Keep all receipts
 9- Understand stores
return policy
 10- Buy within your
budget
 11- Check you bill for
accuracy
 12- Exercise the right to
protest.
Types of Fraud
 Home Improvement Fraud
 Vacation Fraud
 Mechanic Fraud
 Telephone Fraud
 Health and Nutrition Fraud
 Pyramid Schemes
Comparison Shopping
 Rank the items according to what you
believe is the best buy.
– Popcorn
– Toilet Paper
– Shampoo
Planning Meals
 Is it more efficient to eat out or eat at
home?

 Or

 Is it healthier to eat out or at home?

Food Guide Pyramid
 One size doesn't fit all!

Orange- Grains
Green- Vegetables
Red- Fruit
Yellow- Fats & Oils
Blue- Milk & Dairy Products
Purple- Meats, Beans, Fish, & Nuts
Physical Exercise
Food Guide Pyramid
 Eat a variety of foods
 More of some, less of others
 Make it personal!