Credit Cards
What is your history of being able to pay back loans to people you borrowed from?
Define budget
what is the expected amount of income versus the expented expenditure for a given amount of time?
Explain why we pay taxes
We pay taxes in order to have the convenient things that civilization provides, interstates, firefighters, hospitals, care for the elderly, schools, etc..
How do we go about applying for a job at Einstein bagels?
What is we go online and look for the link that says careers or jobs and jump through the required hoops?
Define credit score
What is one number that takes different factors into account to determine your creditworthiness or how much people should trust you with their money?
Difference between gross income and net income
What is gross income is our pre tax income what we made in terms of salary or hourly rate x hours? Our net income is what we actually get and are able to spend or invest, this is our post tax income after the government has taken their chunk?
What is they use their credit card for things they NEED and KNOW they will have money to pay it off that month. They use it to buy gas, groceries, reoccuring bills, etc.
If we get a job at Einstein Bagels and it's time to get paid, will our employer give us cash?
What is no, they will give you a check with a paystub attached showing you the taxes that have been taken out, or they will direclty deposit it into your bank account if you have signed up for that?
Explain the process of borrowing from a credit card company, what does that look like, careful not to give too many details
What is they give us a card with a set limit each month, we're expected to pay it back at the end of each month?
Define Money
What is a medium of exchange?
Describe an irresponsible credit card users patterns
What is they use it to buy things they DON'T need and don't HAVE the funds to pay it off that month, so then it goes to collect interest at a high rate. They use it to buy expensive nights out, unnecessary entertainment, new clothes, etc...
If our budget consists of first things first and no unnecessary purchases, but we still can't pay the bills or live comfortably, what can we do?
What is ask for a raise, find a different job, find a cheaper place to live, or a combination of the three?
List three pros to using a credit card responsibly
What are building up our credit score which will help us with lower interest rates later, they can help in an emergency fund situation, they typically have better fraud protection than debit cards, they will offer rewards usually in terms of "points" or "miles" which translates to dollars?
Define debit card
What is the card that is linked to your checking account where you have access to the money you have already earned?
Why is it beneficial to be involved in extracurricular activities when it comes to applying for jobs?
What is because they look good to write down on a resume?
Explain the downside of using a credit card irresposibly.
What is spending more than we're able to pay back at the end of each month, whatever we couldn't pay goes to collect interest at an average rate of 15% depending on your credit score when you applied and what the card is? Then it becomes a viscious cycle you have to get yourself out of.
Define resume and a cover letter.
What is a document that highlights your previous work experience, education, skills, and other attributes? What is a letter to the potential employer explaining why you're interested in the job, what qualifies you for the position, and thanking them for their time leaving them with your contact info?
What does it mean to invest? Give three examples of an investment?
Why do we have jobs? Why do we spend money? Why can't we just feed and shelter ourselves, everyone as individuals?
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