Unit 2 1.2

• Needs


  Do not change much over the life cycle
• Values


  The things people consider important to them, might change as they grow older and have different experiences
• As values change


  Wants and aspirations might change
• Changes in wants and aspirations

  Affect how people manage their money
• Factors affecting needs and wants

  • Lifestyle
  • Prevailing culture of the society
  • Size of family
  • Ability to afford products
• Aspirations


  Become more realistic as people learn more about life