Compare prices at 3 places
8d.
At a minimum of three locations, compare the cost of the item for which you are saving to determine the best place to purchase it. After completing Second Class requirement 8c, decide if you will use the amount that you earned as originally intended, save all or part of it, or use it for another purpose.
Earning money through your own labor in Requirement 8c is the first half of financial literacy. Requirement 8d teaches the second essential skill: smart consumer comparison shopping and making deliberate decisions about how to allocate your hard-earned funds.
Part 1: Comparing Costs at Three Locations
Before buying your target item, research its price across at least three different retail sources—such as a local specialty outfitter, a general department store, and an online merchant.
Evaluating the “Total Cost” (Not Just the Sticker Price)
When comparing prices, look beyond the base shelf price to calculate the true final cost:
- Sales Tax: Local and state taxes added at checkout.
- Shipping & Handling: Delivery fees for online orders, or minimum order thresholds required for free shipping.
- Quality, Warranty, and Durability: Is the item identical across all three stores, or is one version made from lower-grade materials? Does one retailer include a lifetime replacement warranty?
- Return Policies & Customer Support: Can you return the item easily in person if it doesn’t fit or breaks?
Comparison Shopping Worksheet
| Retailer / Location | Type | Base Price | Tax + Shipping | Total Final Cost | Notes (Warranty, Quality, Convenience) |
|---|---|---|---|---|---|
| 1. Local Outdoor Shop | Brick-and-mortar | $45.00 | +$3.15 tax | $48.15 | Can try on in store; expert fitting advice; immediate pickup |
| 2. Major Online Retailer | Website | $38.99 | +$5.99 ship + $2.73 tax | $47.71 | 5-day standard shipping delay |
| 3. Discount Big-Box Store | Department store | $42.00 | +$2.94 tax | $44.94 | Generic store brand; 30-day return window |
1. Local Outdoor Shop
- Type
- Brick-and-mortar
- Base Price
- $45.00
- Tax + Shipping
- +$3.15 tax
- Total Final Cost
- $48.15
- Notes (Warranty, Quality, Convenience)
- Can try on in store; expert fitting advice; immediate pickup
2. Major Online Retailer
- Type
- Website
- Base Price
- $38.99
- Tax + Shipping
- +$5.99 ship + $2.73 tax
- Total Final Cost
- $47.71
- Notes (Warranty, Quality, Convenience)
- 5-day standard shipping delay
3. Discount Big-Box Store
- Type
- Department store
- Base Price
- $42.00
- Tax + Shipping
- +$2.94 tax
- Total Final Cost
- $44.94
- Notes (Warranty, Quality, Convenience)
- Generic store brand; 30-day return window
Part 2: Making Your Financial Decision
Once you have completed your price comparison and your earning plan from Requirement 8c, you must decide what to do with the money:
- Purchase the Item as Planned: You found the best value retailer and use your earnings to buy the item you worked for.
- Save All or Part of the Money: You decide to deposit the earnings into a personal savings account, building a financial cushion or saving toward a bigger goal (such as high-adventure camp or future education).
- Use the Money for Another Purpose: Your priorities shifted during the earning process, and you choose to redirect the funds toward a more urgent or meaningful need.