 BUILDING BLOCKS STUDENT WORKSHEET Creating a buying plan When buying a high-cost item, it’s helpful to consider several factors before deciding which item to purchase. Developing a buying plan can be a useful habit. Instructions 1. Make a buying plan for two major purchases. 2. Write an advice column that answers questions about spending. Questions to consider when making a buying plan 1. What do I want to buy? Where can I research my options (including price and specifications)? 2. How much do I have to spend? What is my budget? 3. What criteria or specifications am I looking for? 4. What are possible choices that can meet my criteria? 5. Which choice works best for me? Practice making a buying plan Practice using this strategy with two types of products or services you’d like to buy (now or in the future). 1. What you want to buy: My budget is: My criteria are: My choices include: My decision is: Choice 1: Choice 2: Choice 3: How did you make your choice? BUILDING BLOCKS STUDENT WORKSHEET 1 of 2 Creating a buying plan Fall 2018 2. What you want to buy: My budget is: My criteria are: My choices include: My decision is: Choice 1: Choice 2: Choice 3: How did you make your choice? Applying what you’ve learned Imagine that you write a financial advice column for a newspaper. This week, you’ve received three questions from your readers. Respond to each reader using what you’ve learned about buying plans. 1. My name is Louis, and I want to buy a car. I don’t care if it’s used, but there are just so many choices. Can you walk me through what I should do? 2. My name is Taylor, and I want a small pet I can keep in my room. There are lots of cool options, and I’m not sure which pet to choose. How can I decide which one is best for me? 3. My name is Ngozi, and I want to buy a fishing boat. There are many boats for sale in my area, but I’m not sure how I should choose one. Can you help? BUILDING BLOCKS STUDENT WORKSHEET Creating a buying plan 2 of 2 Fall 2018