Video transcript

Becoming a smart spender is important for making sure you always have enough for what you really need and want. But how can you make sure you're spending wisely? This is called being a critical consumer, and it’s all about asking yourself, do I really need this, or should I save my money? Sometimes, we’ll see an advert on TV or social media that will use persuasive techniques to make us THINK we really want something. For example: Attractive images of the product to make it look irresistible. Celebrities and models are used to make it desirable. Humour can be used sometimes to draw us in and make us like a brand. Characters and mascots help to make the product memorable. Discounts and offers can make us think we have to buy it straightaway rather than think about it carefully. And experts and scientific jargon help to make the product seem special.

But here’s the thing – to be a critical consumer, we need to spot these techniques and ask ourselves three key questions:

One: Is this good value for money? If not, then it might not be worth it.

Two: How does it compare with different brands or similar products? You might be able to get a cheaper product elsewhere that does the same thing.

Three: Do I really need this? If the answer is no, then it might be better to save your money.

It’s absolutely fine to buy something you really really love, especially if you’ve saved up for it, but it’s important to think carefully first. So pause before you buy! Take a moment to ask yourself if it’s really worth it.

So there you have it. You have all the tools you need to be a critical consumer: how to spot the persuasive techniques, and what to consider before you buy something.

Smart spending or what?!