Tis the Season to SPEND!
Gone are the days of Black Friday deals! Holiday shopping trends are starting earlier than ever, even before the witches and goblins leave the store shelves! It is estimated that consumers will spend the average of $1,463.00 per household! Now more than every, students in financial literacy courses across the country need to be aware of the targeted advertising, payment traps, and emotional spending issues that happen during the holiday season.
TARGETED ADVERTISING
Have you seen the commercials that make you want to cry? They are a lot like the Hallmark movies that start circulating in the fall. They tug at your heart strings, make you want to cry, or cast hypnotic spells on your mind convincing you to purchase the latest musth have items. It is so critical that our students know that they are being targeting in advertising and marketing efforts. Helping them identify and reveal the strategies that marketers use to make them purchase helps them be stronger consumers!
Teach your business and personal finance students to be savvy consumers by being aware of advertising strategies they are the target for. This unit is a fabulous way to wrap up the football season by studying advertising strategies used in Super Bowl commercials!
PAYMENT TRAPS - BUY NOW PAY LATER (BNPL)
You may have noticed that at the conclusion of your latest online shopping haul you had some new payment options. Buy now, pay later is another approach to allow consumers to delay the responsibility associated with their purchases. When it is time to finalize a purchase, buyers can now select easy payment options that divide the total due into four payments. The first is charged when the merchant complete the order and the following three are automatically made every two week after the first (Klarna). Klarna is an example of this payment option that charges NO INTEREST and NO FEES unless you fail to make a payment or, depending on the store, if you make a return.
EMOTIONAL SPENDING
The holiday season provides an elevated opportunity for consumers to spend needlessly and emotionally. Behavioral finance is a fascinating study of why people spend money the way they do. Why can we justify overspending on things we don’t need and can’t afford just because the calendar changes to a specific date?
High school financial literacy students need to have the armor on during this time of the year. The movie THE GREATEST GIFT is such a touching and effective way to help students understand
Soft skills are critical in helping students prepare for future careers. Sometimes life lessons are the most critical in helping us develop these skills. They help us develop grit, stick-to-it-iveness, determination and most of all character. This product is a companion to an engaging movie that shows students that while money and wealth is important, being a good person and developing skills that help them live their life to the fullest is even more important.
