Apply Good Consumer Skills!

When there’s something you really want to purchase, here are a few tips before running out and buying it without putting a little thought into it. I’m Detective Frank Money and my partner Shamus who can sniff out a good deal. We both frown upon buying things you can’t afford or throwing away the opportunity to get it cheaper.

Let’s go through this process step-by-step:

1 – Think through carefully if this is the item or service you really want.

2 – Check out other offers for the same thing.

3 – Then weigh out the alternatives and consequences of each option.

4 – Time to make your decision on the best offer.

5 – You’re not done yet. Now check out how your choice turned out. Did it work out to be the best choice, and if not, what could you have done for a better result?

Now that’s what I call using good consumer skills. Try it out on other things, as well. Like buying a car, or a smartphone, or even dog food! Remember, when you take a little time to think about what you want to buy, you could save yourself some lettuce, I mean, some big bucks!

You’re A Millionaire

I’m Frank Money – Your very effective money detective.

Did you know that YOU are a MILLIONAIRE!

No really, you are. And so is most everyone you know?

How you ask? Well I’ve cracked this case wide open and this Talkin’ Money video explains it!

Through your lifetime, you will most likely earn a million dollars, and probably much more! Here’s a chart showing the Median Lifetime Earnings by College Majors. Just look at the return of a high school degree, versus an Associate’s College Degree and All Majors – it’s pretty amazing!

There was more to the caper than I bargained for – How are you gonna manage your money? It takes responsibility, and, being financially literate!

Car Costs

OK, you need to get around. You need some wheels. But you don’t have a lot of Simoleons…er, Bucks…

A car is in order right? Well ask yourself – What is the real cost of owning an automobile?

I’m Frank Money, and I want to help you investigate everything about money – This Talkin’ Money video tells the story of one car owner who realized after the fact how much a car really costs.

April is National Financial Literacy Month, Detective Frank Money’s favorite month! To celebrate the importance of being financially literate, Detective Money is going to post financial literacy tips every day.

Good Consumer Skills

You really should apply good consumer skills to your purchase decisions. How so you say?

Just like my bloodhound ‘Shamus’ would do, it really just takes an analytical, systematic approach to decision making. In fact, you can apply this to lots of things in life.

Well think about it, do you really want to go through life spending more than you have to for things you buy? Or what about paying higher fees for things people get for a lot less, or even for free?

Here’s a step-by-step approach that really helps:

1 – Consider the item, thing or service you want.

2 – Look at several options for each – Let’s say three different ones.

3 – Consider to alternatives and consequences of each option.

4 – Make your decision…go ahead, pick one!

5 – Analyze the results of your choice. Did it turn out the way you wanted? What could your of done differently for a better result?

Congratulations! Now that’s applying good consumer skills. It applies to buying a car, renting a house, purchasing a smart phone, even buying an ice cream cone! In the end, if you think carefully about each purchase, you could save yourself big bucks!