Role Of Money Flashcards
1
Q
Life Stages
A
From childhood to adulthood life has different implications that affect your needs and your attitude to money
2
Q
Culture
A
Different tradition, religion and ethical beliefs will have different attitudes to money
3
Q
Life Events
A
Events within your control such as university or mortgage and those outside your control such as illness or financial gains and loss influence attitude to money
4
Q
External Influences
A
Factors out of our control influence the state of the economy e.g. availability of jobs or prices of goods and services influence attitude to money
5
Q
Interest Rates
A
When they are low you are more willing to borrow money or spend on credit and when interest rates are high there is more of an incentive to save
