The document discusses various strategies for saving money as a consumer. It suggests making lists before shopping, buying generic brands instead of name brands, using coupons, and shopping at discount stores to save on groceries. Driving a fuel-efficient car, checking gas prices, and maintaining reasonable home temperatures can also save money on transportation and utility costs. With careful planning and consideration of long-term savings, consumers can accumulate significant savings over time.

1. Smart Consumers: Saving
Money for the Future
A Common Core Unit
By: Dean Berry, Ed. D.
Georgia Berry, M.A.

2. $$$$$$$$$$$$$$$
SAVING MONEY

3. Part One
Collaboration

4. Discuss and
Brainstorm
Meet in pairs or
small groups and
discuss ideas for
this topic
4

5. Brainstorm and Discuss
How can you save
money when you go
shopping?
5

6. Report Back
Share Your Ideas
.
1. Let’s summarize possible answers to
our question about saving money.
2. Include these ideas in your notes.
3. You may chose to use a graphic
organizer.
6

7. Continue the
Discussion
Remain in pairs or
small groups and
discuss this topic

8. Brainstorm and Discuss
How can you save money
on transportation?
If you drive, how can you
save money when driving?

9. Report Back
Share Your Ideas
.
1. Let’s summarize possible answers to
our question about saving money on
transportation.
2. Include these ideas in your notes.
3. You may chose to use a graphic
organizer.
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10. Part Two
View, Read, and Think

11. Smart consumers know how
to save money.
If you saved $3/day for the
rest of your life, you could
accumulate an extra $65,000!

12. Class Discussion
 What could an individual or a family do to
save $3 a day?
 Is it true that saving $3 a day for the rest
of your life would really save that much
money?
 How many years more would you have to
save to earn 65,000 if you saved $3 a day?

13. Class Discussion
There are many things you can
do to save money as a
consumer. Let’s examine
shopping habits.
Is it always smart to buy brand
name products?
What is a generic brand?

15. It is estimated that buying generic brands instead of name
brands can save a family of four as much as $20 a week. Over a
period of ten years, the family could save $10,000 on their
grocery bill. Families living on a modest monthly budget could
save close to $100 a month by avoiding name brands.

16. Smart shoppers weigh the difference and save on
generic brands. Many experts believe that the
quality of the “no name” brands is commensurate
with that of the highly advertised “name” brands.

17. Some people claim that only the name brand product tastes good, and they
refuse to buy the generic brand even though it is cheaper. Scientists know that
humans acquire a taste for different kinds of foods by eating them for a period
of time. Different cultures living in different areas develop very different tastes
for food. However, when these same people are assimilated into other cultures,
their tastes for food gradually changes and they begin to acquire a taste for
new foods. While most generic brands taste just like the name brands, even
with a slightly different taste, it is easy to acquire a taste for the less expensive
food. Since most of us are not going to be rich any time soon, buying the less
expensive brands makes great financial sense.

18. Another strategy for saving money while you are
shopping requires some preplanning
before your shopping trip. When you go
shopping, always plan ahead so you can buy
products at the lowest prices. If you can remain
focused on your goal of saving money, and if
you can avoid becoming lackadaisical about the
process, you can identify the sale items and
“stocks up” by filling your pantry with
sale items that can be used in the future.

20. Let’s look at some additional ways to save
money when shopping.

21. Making a list before embarking on a shopping
trip is a great way to make sure you use all of
your money saving tools. Check the local ads and
buy the cheapest products from two or three
different stores. Include generic brands on your
list. Planning ahead will also enable you to find
and use coupons that provide significant savings.

22. If you want to save money for other more desirable purchases,
avoid paying the regular price for most items by planning
ahead, looking for deals on the internet, and buying bargains.
Prioritize your most important needs so you can purchase items
you must have and postpone the purchase of items that are less
necessary. You should avoid buying on a whim.

23. Class Discussion
What is impulse buying?
How could this cause problems?

24. Class Discussion
Do you know people
that clip coupons?
Is it really worth it to
spend time clipping
coupons?

25. Would you use this coupon to
get a free $4.00 Jamha Juice?

26. Extreme coupon clippers can save more than
50% on their shopping bill using coupons.

27. Coupons can be found on internet sites that
specialize in promoting products by giving
out coupons. In addition, traditional
locations such as mailers, newspapers, and
magazines still provide coupons.

29. Saving money is all about meticulous
planning and organizing. Shoppers need
to coordinate their trips to include several
discount stores in their local area.
It is possible to save some “serious”
money by shopping in stores that have the
lowest prices. Many people make the
mistake of going to the closest store
regardless of prices. Planning ahead and
driving a little farther can save thousands
of dollars during the course of a year.

31. Let’s Review
What are some of the
ways that consumers
can save money when
shopping?

33. Balancing a family budget can be a daunting
task. One of the biggest expenses for a family
budget is transportation. First of all, auto
insurance is very expensive. However, frugal
consumers learn to shop around and compare
prices for car insurance by checking the
internet and getting price quotes from different
companies. Also, gas is a major expense for
most families. Gas stations vary as much as
ten cents a gallon which can add up in a hurry.

34. Class Discussion
Gas for automobiles is very
expensive.
How much would you save if you
filled your tank with 18 gallons of
gas that cost ten cents less than
other stations?

35. Checking gas prices can save a load of money. If you use an
average of 30 gallons of gas per week during your life time
and purchase your gas at the gas price on the left, you would
save a total of $15,600. Being frugal at the gas pump is a
judicious way to create better financial security for the future.

36. With current gas prices averaging $3.50 per gallon, the gas
guzzlers on the left would cost approximately $3,250 per year
more to drive than the smaller car if driven 20,000 miles. Over a
life time, the driver of the smaller car would save over $188,000.
on gas alone! Obviously, driving a smaller car is a very prudent
decision.

37. Class Activity
 Meet in small groups and solve the
following problem.
 You own a small car that gets 34 miles per gallon of
gasoline. You drive about 20,000 miles per year and pay
an average of $3.50 per gallon for gas.
 Your friend has a larger car that gets 18 miles per gallon
of gasoline and drives the same distance and pays the
same price per gallon of gas.
 If you compare the cost of driving the
smaller car with the larger car, how
much money will you save per year?

38. Sometimes paying cash for gas can save money. While
buying gas at the wrong station may cost you an arm
and a leg. If you look for the best gas prices, you will
definitely avoid squandering you precious resources.

39. When gas prices, auto insurance, and repairs get to be too much
for your budget, it might make sense to take the bus. Driving an
automobile to work everyday is a very uneconomical way to
utilize valuable resources.

41. Class Discussion
Let’s Summarize
How can you save money
on transportation?

42. Just trying to maintain a
sufficient degree of comfort
at home can drain a family’s
monthly budget.

43. $$$$$$$$$$$$
Most people would be very
surprised at the amount of
money that can be saved in their
own home. Since utility bills can
add up very quickly to a
considerable amount of money
each month, finding creative
ways to reduce those bills can
save consumers thousands of
dollars every year. A simple
review of home energy use
would be a prudent way for
consumers to begin saving
money on home energy use.

44. Class Discussion
Save Money at Home
 What would be a manageable temperature
setting during winter months?
 What would be an acceptable air
conditioning setting during summer
months?
 If you do not have air conditioning, what
are some other ways to stay cool?

45. Showing a little restraint in using the thermostat will
significantly reduce energy use. Astute consumers monitor
temperatures on their thermostats during cold or warm
months and adjust settings to no lower than 78 degrees
during the summer and no higher than 70 degrees in the
winter. Such adjustments may save hundreds of dollars a
year. Cooling or heating homes beyond these settings will
definitely have an adverse affect on a family budget.

46. Experts warn consumers that as the world
population increases and underdeveloped
countries need more energy to meet their
needs, energy shortages will occur and
energy costs in some areas may become
prohibitive. Severe shortages could be dire
for those who can no longer afford to supply
their homes with the basics.

47. If no one is using a room, the
lights should be turned off. Why
pay for something that you are
not using!

48. Keep Warm and Save
In many homes, air enters
through the cracks and
openings in widows and
doors. On cold days, large
amounts of cold air can
gush through tiny openings
and make a home very
expensive to heat. By
taking a few minutes and
applying insulating strips
to windows and doors, you
will save “serious” money.

49. Insulation can make a huge difference in maintaining
temperatures. Hot and cold air can escape through many
different areas of a home. Adding layers of insulation
can save energy and money.

50. Class Discussion
 Compare having a cold drink with ice in a
styrofoam cup verses a regular dixie cup.
 Is there a difference in how long the ice
lasts?
 Why do think this happens?
 What kind of materials provide good
insulation?

51. Gas and electric bills can be very high during the
hottest and coldest months. Big utility bills can
break a family’s budget in a hurry.

52. Class Discussion
 Since utility bills can vary between $120. and
$600. per month during high usage periods,
what can be done to reduce gas and electric
bills?
 Think creatively and create a list of things that
can be done to reduce the use of electricity.
When you are done, share your ideas with the
class.

53. Class Discussion
Can you use some of these words to explain
other ways that consumers can save money:
Interest
Internet
Conservation
Pre-owned

54. Internet Mania
If you want to do
comparison shopping, open
up your browser and start
surfing. The internet is the
best way to save money on
new and used products and
services. You can save
thousands of dollars when
buying an automobile if you
compare internet prices and
are willing to drive a little
further to get the best deal.

55. You should be “interested in this” Info.
When you buy a car your
monthly payment will be
much higher if the interest
rate is lower. A $20,000 loan
for six years at 12% could
cost as much as $10,000 in
interest while the same loan
at 3% could cost as little as
$2,500 in interest. If you
got a 3% loan you just
saved $7,500 in a single
transaction.

56. Class Activity
 Meet in small groups and solve the
following problem.
 One car dealer offers you a beautiful automobile
for $23,000 with a 6 year loan at 12% simple
interest.
 A second car dealer offers you the same car for
$24,000 with a six year loan at 4% simple
interest.
 Which dealer is giving you the best deal?
 Prove your point with specific evidence.

57.  Unless you know for sure that you are going to
win the lottery, organizing and planning ahead
before you spend money might just enable you
to enjoy the finer things in life.

58. Check-up and Review
Raise your green card if
you believe the statement
is true or your red card if
you think it is false.

59. True or False-1
If you saved $3 a day
for the rest of your life
you could save
approximately $5,000.

60. False-1
If you live another 60 years and save $3.00
a day, how much money would you save
during that time?
Who has a calculator?

61. True or False-2
Shopping at discount
stores like Von’s and
Stater Bros. is a great
way to save money.

62. False-2

63. True or False-3
Generic brands like
Yoplait, Kelloggs, and
Pepsi are usually
cheaper and can help
you save money.

64. False-3

65. True or False-4
Buying groceries at
Costco, Winco, or
Walmart rather than
regular stores could save
a family hundreds of
dollars every month.

66. True-4

67. True or False-5
 It would be wiser to buy an automobile
that is $1,000. less with an interest rate of
12% for 5 years than to buy the auto at
regular price with an interest rate of 3%
for 5 years. The regular price for the auto
is $15,000.
 Press Pause to Solve this Problem

68. False-5
Get out your calculators.

69. True or False-6
 In order to save money it is usually
recommended that temperatures in homes
be set at no lower than 78 degrees during
warmer months and no higher than 70
degrees during the colder months.

70. True-6

71. Consumer Economics Test
1. You can buy generic brands at your local
grocery store and save lots of money.
2. Kirkland and Great Value are more expensive
brand names.
3. It is easy to find coupons online, in the mail,
and at the grocery store.
4. Buying price leaders at each store will cost
more money.
5. Costco, Sam’s Club, and Walmart are discount
stores.

72. Class Assignment
 The previous presentation contained
higher level vocabulary words. During the
course of this unit, you will be studying
these words in several exercises and
learning to use them as you complete
writing tasks.
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73. Critical Terms and Vocabulary
Study the following
terms and vocabulary
as they relate to the
main ideas presented
in your selected
sources.
V

74. Vocabulary Practice
 The following words were highlighted during the prior
presentation. Use the Merriam-Webster.com online dictionary
or regular dictionary, and write a definition for each of the
following words. Review activities for these words will be
included later in this unit.
 modest generic commensurate assimilated
 lackadaisical embarking daunting frugal
 acquire judicious meticulous restraint whim
 astute prudent squandering uneconomical
 sufficient prohibitive dire