Consumer Awareness

The next topic is Consumer awareness. They explained about the meaning of consumer awereness, and  consumer responsibility. Consumer awareness is a thing that really important for someone to making a decision for something that he/she need. There have some consumer responsibility, such as critical awereness ( consumers required to be more critical in asking about the price or the quality about the goods that you need); social concern ( consumer required to realize the impact of the consumption especially for underprivileged society); solidarity (consumer requires to develop the influence for promotion and protect our interest); and enviromental awareness (consumer required to conserve natural resource and protect our earth for next generation or future generation). There have some consumer rights, such as the right to satisfaction of basic needs ( consumer can acess for goods and sevices such as food, helath care, clothes, water, etc); the right for safety ( consumers have the right for safety of a product and services which risky for their health and life); the right to choose (consumers have the right to choose goods or services that he/ she needs); and the right to be informed ( consumers given the facts to make an informed choice).

The Influence of Advertising

Source:  http://www.lectios.com/wp-content/uploads/2016/02/Advertising-Lectios.jpg

For the next meeting, they discuss about "The Influence of Advertising". They explained about the definition of advertising; types of advertising media; characteristic of good advertising; and advantages and  disadvantages of advertising. Advertising is a promotional massage of things, services, and etc that delivered through a media and aimn for the majority of society. There have five types of advertising media. The first one is television advertising (a television programming produced and paid by an organization that give a massage, usually to marker a product or service). The second type is radio advertising (radio advertising has the same aim with the television advertising but the difference is the radio only contain the sound of advertising). The third type is print publications advertising (usually include newspaper, magazine, and book). The fourth type is out of home media (include billboard: typically found in high-traffic areas such as alongside busy roads). The fifth type is mobile device advertising.

Source: http://www.nomacorc.com/wp-content/uploads/2015/12/12-1-15_Advertising_Header.jpg

They explained that there have three characteristics of good advertising. The first characteristic is  should be of interest to audience (with the interesting advertising, so the consumers will be interest with the items or service of a organization). The second characteristic is  the audience should interpret the message in the intended manner. The third characteristic is should influence the audience (with the influence for the audience, so the audience will buy or maybe be a customer of that organization). The advantages of advertising are bringing new products to your notice (no one know about a new product, so with the advertising you can know about a new product); creativity; helping the economy (with advertising, there are many people know about your product or service so you economy will increase); treating yourself ; and gift ideas. But the advertising also have the disadvantages such as, spending money you don’t have; breaking up your favorite shows (usually happens on the television, and usually too much advertising that show so will reduce your favorite shows); boring; unsuitable for kids; and a waste of money.

Cars and Loans

Source: http://uploads.haystak.com/Content_Gallery/img/dealer-img/finance-images/finance-4.jpg

For the next meeting, they discuss about "Cars and Loans". They explained about cost of owning and operating a motor vehicle; sources for obtaining loans; the steps to get a car loan; and what should you do if you can't afford your payment. The cost of owning and operating a motor vehicle have two types, such as ownership (fixed) costs and operating (variable) costs. The ownership (fixed) costs are depreciation (based on purchase price); interest on loan (if buying on credit); Insurance (a term that used to refer to financial compensation for life, property, and health which involves regular payment for a period time in exchange for a policy that guarantees such protection); and Registration fee, license, taxes. But, the operating (variable) costs are gasoline (required fuel that used for motor vehicle); oil and other fluids (used for keeping the components in the machine); tires; maintenance and repairs; parking and tolls. 

Source: https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYoSMjli0IASLoQN2f8a-el4DwTGRY7Axg4pCHekDR_GbDOl3Bl8VjC0DwQ1zmUcTaGt6nppjKIaHZLWqahfdfTv7SWXuXAMgHJm4QKI0xdXKY93T17q35TQE9GnFMtNI-jvlx3dqasSg/s1600/carro.jpg

They also explained about the sources for obtaining loans, such as banks (the best place to start shopping for loans and usually many people loans from bank); consumer finance companies (small loan companies which usually offer higher interest rates); dealership (the authorized seller); family and friends (usually used verbal agreements). There have 3 steps to get a car loan. The first step is choose your car ( by choosing a car that you want to buy, so you will know how much money that you need to borrow to buy the car). The second step is apply for car loan (you can apply for loans from some banks or some loans provider). And the last step is get your car and repay your loan (if your loan is approved, your loan provider will pay the full price and the car becomes yours). For repay you loans so you have three parts, such as the amount you have to pay each month (you must know and prepare how much money  that you have to pay for each month); the term of the loan (you must decide the term of your loans at the application stage, usually repaid over three or five years); and the rate of interest you’ll be charged. They also explained about the ways whenever you can't afford your payments, such as don't trade the car into the dealer (because the car will be appreciated cheap if you trade the car into the dealer); sell the car yourself (if you try to sell the car yourself so there is still a possibility of higher priced cars); and buy a cheap car with cash.

Credit Card

Source: https://smartchoice.pk/blog/wp-content/uploads/2015/08/credit-card-images1.jpg 

For the next met, the topic is about credit card. They explained about the meaning of credit card, types of credit card, requirements to make a credit card, and the tips to use credit card. So, the meaning of credit card is a card that can be used to borrow fund and to used for short term transaction. At the end of month you must pay as much as you used to transaction for that month. 

The types of credit card are standard credit card, balance transfer credit card, reward credit card, limited purpose credit card, business credit card, etc. Standard credit card is a card that relative easy to understand, can be used to do a transaction, and you can used it after make a purchase. Balance transfer credit card is a card that tender a low rate on balance transfer for period time. Reward credit card is a card that tender reward on credit card purchase. The reward of credit card usually in the form of points, cash back, and travel. Limited purpose credit card is a card that can be used in specific location and have a minimum payments. Bussines credit card is a card that designed for business used. 

There have four requirements to make a credit card, such as age (you must more than 20 years old to apply for make a credit card); residency status ( you must become a permanent resident of the country to make a credit card); income (some credit card list the minimum income, you must compelete the requirements to make a credit card); and credit status (you must have good credit history to make a credit card). 

There have some tips to use credit card, such as don't spend more than your ability ( this means you must create a budget and make sure that your spending using the credit card doesn't exceed the budget amount); transfer balances when needed ( if you have much debt so you need to try to transfer to another card with low rate); use it for emergencies ( it means that you must used your credit card for emergencies situation); pay it off every month ( it means that a credit card holder must pay their debt per month because if the bills  is too much so they must take cash out of thier pockets and will also be fined). 

Credits

Source: http://www.a1credit.net/wp-content/uploads/2014/01/Establishing-credit.jpg

The seventh topic is Credits. In, this topic they explained about the meaning of credits in accounting, the advantages and the disadvantages of credits, and the types of credit. They explained that credits in accounting is an accounting entry that increases a liability or equity account or decreases an asset or expense account. There have the advantages of credits card, such as you don't need to carry cash, able to buy needed items now, can save your time and trouble, and help you to track your expenses. You don't need to carry cash means when you want to buy something that you need and at that time you didn't bring money to buy that things so you can used credit card. Able to buy needed items now means when you want to buy needed items you don't need to think about your money, you can use the credit card to but that items. Can save your time and trouble means when you want to buy something that you need, and that time you didn't bring enough money, so you don't need to search for an ATM but you can used that credit card. Help you to track your expenses means that some cards provide year end summaries that really help out. Credit card not only have the advantages but also have the disadvantages. the disadvantages of credit card is high cost fees; unexpected fees; and teaser rates. High cost fees means that your purchase will suddenly become much more expensive if you carry a balance or miss a payment. Unexpected fees means you'll pay between 2 and 4 percent just to get the cash advance; also cash advances usually carry high interest rates. Teaser rates  means low introductory rates may be an attractive option, but they last only for a limited time. When the teaser rate expires, the interest rate charged on your balance can jump dramatically.
 

Source: https://i.ytimg.com/vi/Mcj0b9IsgcY/maxresdefault.jpg

There have 3 types of credits such as single payment credit, installment credit, and revolving credit. The examples of single payment credit are cell phone use ( you use texting each day and pay once a month); electrical use ( you use your electricity each day and pay once a month); and internet use ( you use the internet each day and you will pay once a month). Installment credit is a type of credit that has a fixed number of payments, in contrast to revolving credit. Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers.

Bank Services

 

Source: http://sidelinetrainers.com/wp-content/uploads/2014/12/Business-Banking1.jpeg

For the sixth met, the topic is bank service. They explained about the meaning of bank service, types a bank service, the ways to open the current account, bank deposit product, electronic bank services, etc. They explain that banking services is the various ways in which a bank can help a customers, such as operating accounts, making transfers, paying standing orders and selling foreign currency. There are nine types of bank services. First type is transfers, remittance service either inside the country or outside the country. Second type is clearing, an exchange activity slips or electronic financial data interbank. Third type is collection, a service-scrip bank to charge slips to come from outside the city or abroad. Fourth type is safe deposit box (SDF), a bank service be in the form of box that the customers can keep their valuables. Fifth type is bank card, usually called ATM, that can be used to do some transaction. Sixth type is letter of credit, provided to the public to facilitate the flow of goods, including goods in the country. Seventh type is traveller cheque. Eighth type is bank note or exchange, an issued foreign currency and issued by offshore banks. The last type is bank guarantees. 

The way to open current account are saving, before open current account, you must have a bank account; form fill opening, opening a checking account; identification data, open the checking account and tax identification number; letter of reference, can be obtained from the clerk of the bank; initial deposit, must deposit minimum of 500000 of individual accounts and for company amounted to 1000000. 

There have three types bank deposit product. The first type is giro. Demand deposit account is an account that money can be taken at any time. The second type is savings. Savings is deposits that can be withdrawn only under certain agreed conditions, but can not be withdrawn by check, demand deposit, and / or other tools are equivalent. The third type is deposits. Usually, deposit have the interest more than the savings. 

Source: https://image.shutterstock.com/z/stock-vector-flat-design-illustration-of-banking-concept-set-bank-interior-counter-desk-cashier-consulting-299889278.jpg

There have some electronic bank service. Electronic bank service such as ATM( Automated Teller Machine); computer banking; debit card; direct deposit; direct payment; Electronic Check Conversion (ECC); and Electronic Fund Transfer (EFT). Automated teller machine is a machine that can be used by the customer to take their money or do transfer from a bank to another bank. Debit card is a card that can be used to do the transaction whenever the customer want to buy something. 

Buying a Home

 

Source: http://kingmancommercialrealestate.com/wp-content/uploads/2016/12/Buying-a-Home.jpg

For the Fifth met, the topic is Buying A home. They explain about the steps to buying a home, what you need to buy a home, tips to buy a house, and the ways to buy a home if don't have enough money. They explained about the steps to buying a home. There have ten steps to buying a home. First step is start your research early, you can search by reading from websites, newspapers, and magazines that have a real estate listings. You can ask about the price and location. Second step is determine how much house you can afford, in determining the choice you must think about your financial situation. Third step is get prequalified and preapproved for credit for your mortgage, before you looking for a home that yu want, you must see how much need to spend. Fourth step isfind the real estate agent, real estate agents can provide you with helpful information on homes. Fifth step is shop for your home and make an offer, start to shop a home in your price range. Sixth step is get a home inspection. Seventh step is work with a mortgage banker to select your loan, responsive mortgage bankers assist you can make the process much easier. Eighth step is have the home appraised, lender will arrange for an appraiser to provide an independent estimate of the value of the house you are buying. Ninth step is coordinate the paper work, lender will arrange for a title company to handle all of the paperwork and make sure that the seller is the rightful owner of the house which you want to buy. The last step is close the sale, you will sign all of the paperwork to complete the purchase. 

Source: https://i.kinja-img.com/gawker-media/image/upload/s--WNY_XD9r--/c_scale,f_auto,fl_progressive,q_80,w_800/g8fmkdyipx68c8riinid.jpg

There are four things that you need to buy a house. The first thing that you need is prepare your budget. If you want to buy a house you need to know how much your budget, is it enough or not. If that's not enough so you can working part time or seek loans. Not only think about the budget for buy a home, but you must think the budget for your need. The second thing is do some survey. Befor you buy a home, you must do some survey, it's not the  eat way if you want to buy a home but you don't do a survey. You must check about the price, the quality, and maybe the location. If you want the house which have a good quality and good location you must pay more for that. The third thing is prepare your document. When you want to buy a home, you must prepare your document such as home certificate, loan document, etc. The last thing is make sure. When you want to buy a home, you must make sure that the home is the best one and that is the home that you want. 

There are four tips to buy a home. The first one is think about your long term goals. It's mean the home that you buy is the priority to live, not only buy the home but you live in that home with the good location, quality, and good price. The second thing is choose the right type of home that suit your need. If you want to buy a home, you must know the large of house that you need, the location, the quality, the model and how much bedroom , etc. The third thing is check the condition of house. When you want to buy a home, you must check the condition of the house that you want to buy. Make sure taht the condition of the house that you want to buy is in a good condition. If that have some damage you can do a negotiation with the seller. The last thing is location. When you want to buy a home, you must think about the location. It's better for you to choose a home that the location is in a down town or the place that near with your daily so it's make you easily to move from your home to the other place. 

There also the way to buy a home when your budget is not enough. When you don't have enough money to buy a home, so you can get a mortgage loans. We can get the mortgages from comercial banks, saving and loan association, mortgage company, and credit unions. 

Living On Your Own

Source : http://az616578.vo.msecnd.net/files/2016/07/01/636030030891727739-1462823423_Fotolia_37499395_Subscription_L.jpg

For the Fourth met, the topic is "Living On Your Own." When you want to living on your own so you must think about the cost. The cost that you must prepare is moving- in cost and moving cost.

Moving- in cost means the cost that you must prepare whenever you already move to that place. Moving- in cost include: rent for this month and last month, cleaning deposit, security deposit, utilities deposit, and telephone deposit.  Rent for this month and last month means that you must pay the cost of rent for this month until last month. For example, if you want to rent a apartment for one year so you must pay the cost of rent for one year as the down payment. Cleaning deposit means the cost of cleaning your place, the character of cleaning deposit is non refundable fee. Security deposit means amount that the contractor has to deposit with the owner before awarding work, after his tender is accepted. Utilities deposit means the cost that you must prepare to pay for electricity, heat or gas, and water. Telephone deposit means the cost that you must prepare to pay for telephone usage.

Moving cost means the cost that you must prepare when you moving for example the cost for moving your stuff. Moving cost include: renting a truck, packing supplies, and hiring movers. Renting a truck used to help you to bring all of your stuff that you need whenever you're moving.  Packing supplies is really important for people who want to moving. pacing supplies used to help you to pack your stuff so it will be easy for you to bring that stuff. Hiring movers is people who be in charge to help you to bring your stuff to your new place. 

Source: http://az616578.vo.msecnd.net/files/2016/05/28/636000551984724417819919955_download.png

when you want to move, so there have seven things that you must keep in mind. First is your personal and financial goals. Personal and financial goals is the higher level of achievement,  self confidence, personal motivation, and more fulfilling life. Second is your income. Income is really important for someone who want living on your own. Source of income usually from working, investing, and maybe from parents. Income used to supply your life necessities. Your income must balance with your expenses. Third is your lifestyle. When you living on your own so you must ensure how much the budget that your need for your lifestyle. Fourth is your fixed and variable expenses. It's better for you to know what is yor fixed and variable expenses and how much the budget. Fixed expenses such as rent, car payment, and insurance. Variable expenses such as food, savings, utilities, etc. Fifth is moving- in cost. Sixth is Moving cost. Seventh is the cost of setting up house. The cost of setting up house is really need for you whenever you want to move.There have some question, one of the question is if you rent a apartment, and your income is not enough to pay the rent so what will you do? Still rent that apartment, search another apartment, or other ways? I answer the question if my income isn't enough to pay the rent so i will reduce my expenses and working part time. And i will stay at that apartment, but i must set the budget.

The Art of Budgeting

 

Source: https://marquetteeducator.files.wordpress.com/2015/08/vgcus.jpg

The third topic that explained by group three is about the art of budgeting. First, they said the art of budgeting is how we can use money be effective with step by step and make the planning of saving and spending.  The art of budgeting is really important because if we have a income and we didn't make the detail of our outcome maybe your outcome more than your income so with the detail you can manage your spend and saving. after that they explained about personal and financial situation. whenever, personal and financial situation consist of needs (what you really need) , values (something which have a value of your life), and life situation (something  due with yourlife). 

They also explained about set personal and financial goals. If you want to make a personal financial so something you must do is don't owe. You also make a plan for retirement because you must have the target because if you already 60 years old you should be retired. They said that you must have a fund for emergency situation, health goals, insurance to cover your life, family goals, educational goals, social goals, and financial goals. 

Source: https://s-media-cache-ak0.pinimg.com/564x/47/87/e2/4787e2608a87a051c65a200ce1fefc85.jpg

If you want to make your budget expenses for a month so you must know your income per month after that you must know what is the fixed expenses and variabel   expenses. Usually, the fixed expenses include rent, car insurance, car payment, credit card. And the variable expenses usually include saving, food, utilities, etc. Your expenses should be balance with your income, if your expenses more than your income so you must decrease your expenses.

Making Money

Source : http://www.myimonline.com/wp-content/uploads/2015/12/make_money_online.jpg

The second group was explained about “Making Money”.  They explained that career planning is an ongoing process that can help you manage your learning and development. Career planning is the continuous process of thinking about your interests, values, skills and preferences; exploring the life, work and learning options available to you; ensuring that your work fits with your personal circumstances; and  continuously fine-tuning your work and learning plans to help you manage the changes in your life and the world of work. The career planning has four steps. The first step is knowing yourself, in this step you must know, where you want to be thinking about where you and how you’re going to get there. The second step is finding out, in this step you must exploring the occupations and learning areas that interest you. The third step is making decisions, in this step you must comparing your options, narrowing down your choices and thinking about what suits you best at this point in time. And the last step is taking action, in this step you need to take to put your plan into action. 

Source : http://images.huffingtonpost.com/2015-04-27-1430168806-8034176-how_to_make_money_online.jpg

They also explained about preparing for a job interview.  There have three parts of interview. First is before the interview, you must analyze the job (an important part of interview preparation is to take the time to analyze the job posting, or job description); make a match (When you have created a list of the qualifications for the job, make a list of your assets and match them to the job requirements); research the company (before you go on a job interview, it's important to find out as much as you can about the company); practice interviewing; what to bring to a job interview; and get the direction. The second part is during the interview, you must practice interview etiquette; listen the question; and ask the questions. The last part is after the interview, you must follow up with a thank you note.

In working, we as a employee will get some benefits. The benefits that we can get are medical insurance, dental insurance, vision/ eye care insurance, life insurance, accidental death insurance, disability insurance, vacation, holiday, sick/ personal days, pension plans, profit sharing, etc. They also said that making money and saving money is really important because if you making money but you didn’t save the money then you will not progress. If you saving money but you didn’t making money so from where you got the revenue. So, it’s really important for us to making money and saving money. 

Making Decision

           

Source : http://www.naijapreneur.com/wp-content/uploads/2014/07/decision-making-for-entrepreneurs.jpg

          

            The first group  was explained about “Making Decision”. They explained that making decision is really important for us because it can help us to do something. The dicision making process are identify the problem, gather information and list possible alternatives, consider consequences of each alternatives, select the best course of action, and evaluate the result. For example, I already finished my study in senior high school so I want to continue my study. I must prepare some university that must be accordance with university that I want.  After that I must choose the best university and take the consequences. They explained the factors that can influence a decision including values, peers, habits, feelings (love, anger, frustation, ambivalance, rejection), family, risks and consequences, and age. They also explained the common decision making strategies, include spontaneity; compliance; procrastination; agognizing; intention; desire; avoidance; security; and synthesis. 

            Not only that, they explained about the economic influences on decision making. They said that the economic factors may influence personal and financial decision, such as consumer prices, consumer spending (demand for goods and sevices), gross domestic product (GDP), housing starts, interest rates (the cost of borrowing money), money supply, stock market index, and unemployment. They said there also have the risks associated with decision making. The following are common risks related to personal and financial decision making, such as personal risks, inflation risk, interest-rate risk, income risk, liquidity risk. The opportunity costs and time value of money, include opportunity cost, personal opportunity costs, financial opportunity costs, and time value of money.

            There also have a question that was gave by the audience is if  a manager must determine the decision, but the manager have some problem or not in a good mood so what should she/ he do? One of them said that if you are a manager and at that time you was badmood so you must work professionally so you must forget the problem and choose to make decision of your work. Don’tintervene  personal affairs or problem with your job.