Influences On Money

Question 1

What are the 4 influences on money ?

Answer 1

-personal attitude
-life stage
-external influences
-life events

Question 2

Influences on money - personal attitude ?

Answer 2

Personal attitude - living a risk and reward culture could be down to parents or lifestyles , some cultures encourage saving

Question 3

Influences on money - life stage ?

Answer 3

Life stage - as you go through the life stages your financial priorities and needs will change so your attitudes will change

Question 4

Influences on money - external influences ?

Answer 4

External influences - these include events outside of your control such as interest rates , inflation and government decisions

Question 5

Influences on money - life events ?

Answer 5

Life events - things happen in life where we spend lots of money or earn lots of money so will affect your view of the importance of money eg redundancy