Careers
What is an example of a job where the pay is low but still requires the cost of a college education
Physical Therapist, Teacher (sometimes, especially preschool), Massage Therapist
What is the difference between a fixed cost and a variable cost?
Fixed costs are the same amount each period, but variable costs can be infrequent or differing amounts.
What percent of your income should you save, at least, regardless of how much you make?
What is 10%
Which type of card uses your own money?
What is a debit card?
If something seems too good to be true, should you take advantage of it before someone else does?
What is “yes if you tend to be both lucky and stupid. Otherwise, no.”
What is an example of a high paying career that requires a lot of expensive college education and training
What is Doctor or Lawyer or?
In terms of budgeting, what is the difference between variable expenses like groceries versus variable expenses like going to the movies?
What is “you have to eat, but you don’t have to go to the movies”
If you don’t make enough to save, and you have cut out all expenses that you possibly can, what should you do?
What is … find a better paying job, or work more jobs or work more hours or work harder at cutting expenses further by getting a(nother) roommate or moving finding resources to help like food banks or rent vouchers or donate blood or plasma or sell off more stuff
What type of card uses the bank’s money?
What is a credit card?
When is a coupon for a free item not free?
When you have to buy something else to get it or you end up buying something else to get it, or you have to spend time and (gas) getting there to get it.
What is an example of a job that requires significant college (more than 7 years) but doesn’t pay very well?
College instructor or professor (non tenure track especially, Library archivist, clinical PhD teaching positions
What did we determine in class is the number one and number two most expensive things that the class (in general) spends money on?
What is Clothing and eating out (food but not groceries).
If you managed to save $100 per month for a year, while you also have $1300 in new credit card debt from the same, how much have you actually saved?
What is… “Well, you did save $1200, but you also created $1300 in debt which leaves you $100 in debt, but that is enormously better than not having saved and still owing $1300!!”
What is the difference between credit and debt?
Credit is the amount of money you have available to borrow, debt is the amount of money you already have borrowed (and owe).
What is the difference between identity theft and phishing?
Identity they steals your vital information (social security #, passwords, bank account info, DOB etc, whereas phishing is an effort made to steal your information (and money) by making you think the requestor is legitimate (posing as a bank or business or government entity or friend or co-worker and asking for your information)
What are some of the highest paying jobs right out of high school that do not require college?
What are Construction trades, entrepreneurial ventures…?
Which one of these was not a source of income that was mentioned by you guys in class? Babysitting, Lawn Cutting, Allowance, Alimony, or selling stuff?
What is alimony?
When should you start saving?
What is now?
Why should you (you being the person you are right now) not get a credit card, even though the experts say you should get a credit card as soon as you can to start building credit?
What is “well if I don’t have reliable and regular income to pay off my credit card purchases, and I have trouble paying off my credit card, then the credit I will be building will be BAD CREDIT, which is worse than no credit.”
What are some of the dumbest things Mr. Horwitz has bought in his life?
A purple two door two cylinder Subaru, a VW beetle, a home sauna, a Ford Excursion, an investment home on Montgomery Road, a commercial building in Mt. Lookout, any number of ugly pants and shirts (but not these ostrich skin boots)
What is more important in a career, the amount of money you make, your happiness with the work you do, or the benefit to others that your work provides?
What is “it depends on who you are”?
If your roommate makes five times more than you do, should you have to share the rent evenly?
What is “it depends on whether they want to pay more and whether or not you feel entitled to get more, and most of all, it depends on what agreement you made about sharing costs before you moved in together”.
The Hardest Part of Saving
What is “It is painful”
Why do banks give you free interest on a credit card purchase for the first month?
What does “stepping over dollars to pick up pennies” mean?
What is “doing an activity that saves a small amount while ignoring the larger cost impact”. Perfect example: Shopping at CostCo for one person. Buying in bulk doesn’t work if you can’ use all you buy.