Role of money

Question 1

Role of money

Answer 1

• Personal attitudes
• Life stages
• Culture
• Life events
• External influences
• Interest rates

Question 2

What affect can Personal attitudes have towards money?

Answer 2

Attitude towards risk and reward, willingness to save, spend and borrow,

Question 3

What affect can Life stages have when looking at money?

Answer 3

Each life stage has different financial priorities and needs will change.

Question 4

What affect can role of Culture have when looking at money?

Answer 4

Different cultures may have different views on money, ethical principles and religious beliefs could shape your view on money.

Question 5

What affect can role of Life events have when looking at money.

Answer 5

Major life events such as moving home, marriage or university, can affect your view of the impotence of money.

Question 6

What affect can role of External influences have when looking at money?

Answer 6

These may be events outside your control, such as the state of the economy, or availability of jobs in your area.

Question 7

What affect can Interest rates have when looking at money?

Answer 7

Interest rates can have a big impact on deciding whether to save or borrow.