Download Consumer Safety

Consumer Safety
Journal
Today, we’re going to talk about
“Consumer Safety.” What does that term
mean to you, and how can you practice
being a safer consumer?
OBJECTIVE
Students will be able to…
◦ Utilize safe consumer
practices
AGENDA
Types of Fraud
Protecting Yourself
Test Corrections/Study
Guide
Announcements
You tell me…
Test Prep Flex
Types of Fraud
Ponzi (Pyramid) Scheme- An “investment” plan where your
money goes to other investors, instead of toward an actual
product
◦ What’s the difference?
◦ https://www.youtube.com/watch?v=1QkZcdCDJJg
Phishing- Pretending to be a legitimate institution for the
purpose of stealing someone’s financial information
◦ IRS story
Protecting Yourself: Ponzi Scheme
Now that you know what it is, how can you avoid becoming
trapped in one?
Possible Solutions:
◦ Always know what you’re spending your money on
◦ Only invest through people you trust and make sure that you’re
involved with the process
◦ Be careful of multi-level marketing companies. They do a similar
thing but with an actual product, rather than investments
Protecting Yourself: Phishing Trip
How can you know a call from your bank is actually from the
bank?
Possible Solutions:
◦ Don’t give them the information. Then YOU call the bank back
(look up the number online; don’t redial!)
◦ Don’t download anything or click any links unless you know what
they are
◦ Never send important information over email!
◦ Reconcile your accounts every month
I Gotchu, Fam
These are agencies that have your back…
◦ Food & Drug Administration (FDA)- sets and enforces safety standards
for food, drugs, and cosmetics.
◦ Consumer Product Safety Commission (CPSC)- sets and enforces safety
standards of products such as household appliances, toys, and tools
◦ Federal Trade Commission (FTC)- protects consumers against false
advertising, illegal sales schemes, and all unfair trade practices
◦ Better Business Bureau (BBB)- non-profit organization that provides
consumer education materials, answer consumer questions, and
provide general information about a company's consumer complaint
record.
Test Corrections/Study Guide
Completion of the study guide for the state test will count
as your test corrections, in two parts
1. Multiple Choice- Everyone should do this, just to be ready
for the test! It will give you some idea of what’s coming.
2. Extension Activity- Prove to me that you actually know
your stuff and could answer other questions on the
content. I have the final say in whether your extension
has gone far enough (and I’m going to grade it hard)
◦ Examples for questions 1 and 2
Other Notes
If you don’t know if your extension is deep enough, ask me.
Shoot me an email or come see me in person.
◦ This requires not doing it the night before, because I won’t get
back to you
There will be simple math on the test based around percentages
and simple algebra. Brush up on that if you don’t feel confident
in your math skills