Money Smart
How much a HIGH SCHOOL starter emergency fund should contain.
What is $500?
Method of paying off debt smallest-largest.
What is a debt snowball?
The group of people you know that can help you get an edge in the professional world by helping you get job interviews or face time with new employers.
What is a network?
The imparting or exchanging of information or news; means of sending or receiving information, such as telephone lines or computers.
What is communication?
What you should avoid taking out at ALL COSTS in order to pay for college.
What are student loans?
The basic necessities that should be paid for before allocating money to thing like recreation and restaurants.
What order should debts be listed in when starting a debt snowball? Smallest to largest interest rate or smallest to largest amount owed?
What is smallest to largest amount owed?
Examples: punctual, cleanliness, good manners, firm handshake, hard working, reliable.
What is professional behavior (professionalism)?
Examples include emails, memos, letters, notes, reports.
What is written communication?
Methods for paying for college that don't involve taking on debt. Name 2.
What are: scholarships, grants, work/study, income.
Outlines the amount earned each month vs expenses. Helps you keep tabs on where your money is going.
What is a budget?
Purpose of the debt snowball, behavior change that you wish to accomplish. Why you do a debt snowball.
What is a cover letter?
Type of listening in which you repeat and/or paraphrase what you hear back to the speaker.
What is active listening?
Stands for Free Application for Federal Student Aid. Must be filled out yearly.
Categories that are easy to cut from when looking for extra money to put towards debt snowball. Name 3.
What are: restaurants, clothing, entertainment, subscriptions, tv/cable, phone?
Categories/sections of a resume.
What are name/contact information, educational history, work experience, awards/honors, references.
The name of the person who serves as an outside, unbiased buffer between two people who are experiencing a conflict. Can help provide clarification and resolve the conflict.
What is a mediator?
Paid or unpaid opportunities in which students can gain experience working in their specific field/major.
What are internships?
The first 3 baby steps as outlined by Dave Ramsey/Rachel Cruze.
What are: $1000 emergency fund, debt snowball, 3-6 months expenses in emergency fund (fully funded emergency fund)?
Describe how to set up and perform a debt snowball.
What is: 1) List debts from smallest to largest overall value. 2) Throw all available money at smallest debt. 3) Pay minimum payments on remaining debt. 4) Repeat.
Name the components of a complete job application, including documents sent after an interview.
What are: cover letter, resume, references, supporting documents, thank you letter?
A type of interview in which employers explore an applicant's character traits via questions such as "what is your greatest weakness"? Can be done one-on-one or with a panel.
What are behavioral interviews?
Schools/programs that provide training in specific work based skills in highly needed areas. Often seen as "blue collar" work, but tend to have a higher return on investment in regards to money spent for education vs income generated.
What are trade schools/vocational programs?