Easy Come, Easy GoLove Your Money

Jayne McBurneyFamily & Consumer Sciences Agent

Jayne_mcburney@ncsu.edu

http://johnston.ces.ncsu.edu/

Buying Power

Young Adults spend....

$3 billion on entertainment

More than $11 BILLION on snacks and beverages

$5 billion a year on clothes and shoes

$4 billion on personal care(Alloy Media & Marketing and Harris Interactive, 2009)

Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

and...media junkies

Laptop 57% Cell phones 88%

94% age 18-29 use the Internet (http://pewinternet.org/Reports/2012/Digital-differences.aspx )

Marketing

• Price

• Product

• Placement

• Promotion

Price & Product

• Different models for different stores –

TVs, clothing, appliances

• Martha Stewart, Martha Stewart,

Martha Stewart

Placement & Promotion

Why we Buy...• Blend in/Stand out

• Brand Personality

• Fashion Knowledge

• Value Seeking/Investment

• Comfort of brands – safe purchase

Noble, S., Hayatko, D., Phillips, J. What drives college-age Generation Y consumers? Journal of Business Research 62(2009) 617-628

Avoid Impulse Buying( buying without intention, spontaneous, immediate)

• Do I need it?

• Have I compared prices?

• Can I get is cheaper: BOGO,coupons

• Cost of gas to get there

Know what you CAN spend

Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

How to Avoid “Retail Therapy”:1. LIST

2. Eat first

3. Shop alone

4. Time limit

5. CASH

6. No Drama!

30 day List....anything over $100

Most people don’t plan to fail they simply fail to plan.

Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

ORGANIZE!Set aside for fixed expenses :• Car - payment, gas, insurance• Rent/Mortgage• School costs• Savings…a little bit adds up

Envelopes for flexible expenses:• Food• Entertainment• Clothing

Plan Expenditures

• Make a decision:buy shoes vs. concert tickets

How much are each?Can you get both?

Comparison Shop!!!!!!!

Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

Cool outfit

Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

The 3 Rs

• Reality…..$ is limited

• Responsibility…save it or blow it

• Restraint…delayed gratification

Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577

Helpful Websites

• groupon.com

• twongo.com

• LivingSocial.com

• SouthernSavers.com

Created by Jayne McBurney, Family & Consumer Sciences Agent, Johnston County Center, 2736 NC 210 Highway Smithfield, NC 27577