A1 - Attitudes towards Money Flashcards
1
Q
What can cultural and/or personal attitudes towards money affect?
A
- Views on risk and reward
- Spending
- Saving
- Borrowing
2
Q
What are the life stages?
A
Childhood, Adolescence, Young adult, Middle age, Old age.
3
Q
Explain and give examples of “external influences”.
A
Things outside of your control, such as the economy state, prices, change in wages, tax, government etc.
4
Q
How can interest rates affect saving and borrowing?
A
When interest rates are low, you’re more likely to borrow money, however you’re less likely to save.
