Code: 1.3.3 · Adults
Understands that money spent to purchase a certain good or service is no longer available for something else (the concept of opportunity cost)
Understands that irreversible costs made in the past should not influence purchase decisions today (applying the concept of sunk cost)
Knows that there can be substitutes for products, in some case including second-hand or refurbished ones, and services that may cost less than the one originally identified
Knows that there can be complementary products and services necessary to use certain products or services
Knows applicable consumer rights when making purchases, especially online (i.e. return policies, information disclosure)
Recognises that adverts, special offers and the media can have a powerful impact on one’s perceived desirability of particular purchases
Considers the overall value or utility of a potential purchase as well as its price
Where relevant and provided for in law, returns purchases made online or through other types of distance selling within the timeframe specified by law for a full refund
Develops strategies to avoid or minimise overspending, impulsive shopping and other unintended consequences of advertising and social pressure
Takes steps to make informed purchases
Considers sustainable alternatives to new purchases, such as reusing and recycling
Confident to use the right to return purchases made online or through other types of distance selling, within the timeframe specified by law for a full refund, where relevant and provided for in law
Confident to say no to a sales offer that is unsatisfactory or unwanted, including online offers (i.e. pop-ups, online ads)
Confident to resist pressure to make unplanned purchases