Category: Purchase Decisions

Question of the Day: What grocery items have seen the largest increase in sales when compared to last year?

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Apr 01, 2020
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Question of the Day, Purchase Decisions, Current Events
Answer: Questions: Which of these items has your family been buying this month?  How would you categorize these ten items into different groups? How do you think the popularity of these items has affected their price? Do you think the cost has gone up or down?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Time): Nielsen’s data shows that last week, Americans bought an unusually large amount of...

Question of the Day [Updated]: What's the average monthly payment for a new car purchased in 2019?

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Mar 18, 2020
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Question of the Day, Credit Reports, Purchase Decisions
Answer: $554 Questions: When do you expect to buy your first car? Will you buy new or used? Explain your answer. Do you think that $554/month for a car payment is reasonable? Why or why not? What is the trend in monthly payments for new cars over the last five years? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Credit Karma):  Recent data indicates that new-car prices have gone up — by 2.3% from March...

QoD: What are the most popular "tricks" that shopping websites use to get us to buy more?

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Feb 19, 2020
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Behavioral Finance, Question of the Day, Purchase Decisions
Answer:  Questions: Which of the following tactics have you seen on websites?  Which of the top three "tricks" has the greatest impact on your behavior? Why?  Running out of the product..only 3 left in stock Flash sale only available for the next hour A celebrity you follow loves this product too... Why do you think these tactics are so effective?  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers...

Chart of the Week: Largest Advertisers in the U.S.

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Feb 04, 2020
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Advertising, Chart of the Week, Purchase Decisions
Hat tip for Kareem for highlighting this chart.  You might know think advertising is a big market. This chart shows you exactly how big it is and breaks it out by sector.  Question: What are the reasons that companies advertise?  Which company's ads do you tend to see most frequently from the list above? Where do you see their ads (physical world, TV, digital world) Which three companies spend the most on advertising? What types of products do each of them sell (may require some...

Question of the Day: Researchers have found five ways that spending money can make us happy. Can you name two of them?

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Jan 26, 2020
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Question of the Day, Behavioral Finance, Purchase Decisions, Budgeting
Hat tip to Nick Maggiulli of Dollars and Data blog for highlighting this research from .  Answer: Buying experiences Treating yourself (on occasion) Buying extra time Paying upfront (i.e. all-inclusive vacations) Spending on others Questions:  What are ways that you spend money that bring happiness to you? Do they fit into any of these five categories?  Why do you think that researchers found that "buying experiences" might create more happiness than buying "things?"...

Teach The Triangle: Making Purchase Decisions

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Jan 21, 2020
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Purchase Decisions, Chart of the Week, Behavioral Finance
Hat tip to Erica Pavlik of Neuqua Valley High School who reached out and suggested we curate resources to help "Teach the Triangle," an instructional idea created by her principal, Lance Fuhrer. Here's how she explained this concept:  "It is like your data crunch but taken a step farther. It collects three types of data (image, article & graph) on a similar topic and ask students one question: What can you infer from this?" We thought we would give it a go. Here are three resources...

QoD: Every 12 months that a car loan is extended costs an owner about __________ in extra finance charges.

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Jan 06, 2020
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Purchase Decisions, Question of the Day, Compound Interest
Answer: $1,000 Questions: Which would you prefer: a 4 year car loan with $400/monthly payment or a 6 year loan with $300/monthly payment? Why?   Why do you think that most car buyers focus on the monthly payment instead of the overall interest cost when they take out an auto loan?  Complete these sentences: The longer the term of an auto loan, the higher/lower (circle one) the interest cost (assuming it's not a 0% APR loan). The longer/shorter (circle one) the term of an auto...

Interactive Monday: Streaming Services

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Jan 05, 2020
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Interactive, Budgeting, Purchase Decisions, Activities
Hat tip to Kareem for uncovering this CNN interactive to assist those overwhelmed by choice when it comes to streaming services.  The interactive starts with a helpful flow chart showing where fave series like Friends, Parks and Rec and Seinfeld are moving to.  It then lists 8 of the leading streaming services (e.g., HBO Max, Netflix, Apple TV+) with details on what to expect from the service as well as popular movies/shows that will appear. Here's the details on Disney+:  A few...

Question of the Day: _____ out of 3 Americans are limiting their spending each month

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Dec 15, 2019
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Behavioral Finance, Question of the Day, Budgeting, Podcasts, Purchase Decisions
 Answer: 2 out of 3 (66%) Here are the reasons they gave for limiting spending: Questions: Have you ever felt like you needed to limit your spending? Why? What do you think are the main reasons your peers would give for following a budget or limiting their spending? What do you think is a better saving strategy? Wait until the end of the month and save what’s left over Set aside your saving at the beginning of the month and spend whatever is left over after saving Do you...

QoD: Can you name three of the most popular items on wish lists this holiday season?

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Dec 04, 2019
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Question of the Day, Budgeting, Purchase Decisions, Behavioral Finance
Answer: Other fun facts:  Average consumer expects to spend $1,048 82% of 18-24 year olds plan to purchase for friends 56% of shoppers say they will shop online -------- Questions: What are the top items on your wish list?  Have you created a budget for your holiday spending? Why do you think it's so difficult for people to keep to their holiday budgets?  What is the best gift under $20 that you have ever received? that you have ever given? What types of gifts do you think...

QoD: Match the percent with the correct statistic from a recent survey of store credit cardholders: 20%, 40%.

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Dec 02, 2019
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Behavioral Finance, Question of the Day, Budgeting, Parent Conversations, Purchase Decisions
_______ of consumers with retail (store) charge card regret their decision to apply for this card. This may be explained by the fact that ___________ still have not paid back their charges from the 2018 holiday season.  Questions: Have you (or someone you know) ever been asked when shopping at a store whether you wanted to open a store credit card?  How does the cashier try and encourage the shopper to sign up?  Why do you think so many cardholders regret their decision to apply...

QoD: What percent of reviews posted on popular e-commerce sites are fake?

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Dec 01, 2019
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Question of the Day, Behavioral Finance, Budgeting, Purchase Decisions
Just in time for the busy online shopping days ahead... Answer: About 1/3 (33%) Questions: How much do you rely on online reviews before purchasing an item?  Have you ever noticed a fake review while shopping online? What made you think it was fake? Do you think that online reviews impact whether people purchase an item or not? Explain.  Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Quartz): Review tracking...

QoD: When do consumers do more online shopping: Black Friday or Cyber Monday?

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Nov 26, 2019
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Question of the Day, Budgeting, Purchase Decisions
Answer: Cyber Monday Questions: Which generation is most likely to look for bargains on Cyber Monday? Why do you think this generation is more likely to look for bargains on that day? Do you plan to do any shopping on either Black Friday or Cyber Monday? Do you have a budget for holiday gifts this year? Why or why not?  Why do you think that so many people shop on these two days? Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom....

QoD: What one-word search term on Google sees annual spikes in November?

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Nov 18, 2019
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Question of the Day, Purchase Decisions
Answer: Friendsgiving Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (the Atlantic): In the past five or so years, hosting a Thanksgiving meal among friends a week before the actual holiday has become a standard part of the celebration for many young adults. -------------------- Here's an NGPF project that engages students in Planning A Friendsgiving Dinner. ...

QoD: How many years has the typical American homeowner been in their current home?

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Nov 06, 2019
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Economics, Question of the Day, Budgeting, Purchase Decisions, Research, Mortgages
This is a good one for Economics class as it's a demonstration of supply/demand factors in the housing market. Given that the trend has been for homeowners to stay in their houses for longer periods of time, the supply of houses for sale (inventory) goes down and if new construction doesn't close that supply gap then there's a supply/demand imbalance. You can guess what happens next.  Answer: 13 years Here's a chart showing the regions where homeowners have been in their homes the longest,...