There are several types of different insurance mentioned in the textbook. There is automobile insurance, credit insurance, homeowners insurance, health insurance, disability income insurance, life insurance, long-term care insurance. Not every location in the world requires auto insurance but it is good to have some kind of insurance that will protect you if you do get in an accident. There are 6 different types of car insurance such as collision, towing, or or comprehensive. Some of the automobile insurances cover the car where some cover personal medical expenses. There are four different types of credit insurance and none of them are required, although they are usually recommended. These include credit disability insurance, credit life insurance, credit property insurance, and involuntary unemployment insurance. Homeowners can help protect your personal possessions and can also help to repair your house. Health insurance can cost a lot nowadays but it is important to have considering the inevitability of getting sick. Some different types of health care include medicaid, medicare, and several private companies. Disability income insurance can pay someone up to 80% of their check. This comes in handy to people that are unable to work but still need income. I have always been taught that life insurance is a necessity. It can protect children or spouses after you have died and has two different types. There is term and whole life insurance. Term cost less and is for a fixed period of time. Whole life insurance can have interest rates and have to be renewed if something major happens in your life. Long term care insurance is good if you or a loved one is going to go into a nursing home but it, unfortunately, gets more expensive the older you get. 

Budgeting is all about income and expenses. It is usually done on a monthly income, rather than annually. The main process if to balance both income and expenses so one does not go into debt. Income is the amount of money a person brings home (after taxes) whereas expenses are what the person has to pay each month. Expenses can be fixed or varied, meaning it looks at reoccurring monthly charges and "fun" spending. 

Planned and impulse buying is exactly as the name says. Impulse buying is when you go shopping and buy something that you were not originally planning to buy, usually due to sales or good deals. Planned buying is a process one does before they go shopping. Some of the steps in this process might include: doing research on the item, comparing the prices at different locations, making the best decision, and more. 

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Goldsmith, E. B. (2017). Consumer Economics Issues and Behaviors. (pgs. 244-246, 464-467, 497-508) Retrieved June 18, 2019, from https://ebookcentral.proquest.com/lib/mcneese/reader.action?docID=4556508 

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