Start Your Career
This is a one page document highlighting your job skills/education.
What is a resume?
This is the money earned AFTER taxes and deductions are taken out.
What is NET pay?
This is the number rating representing a person's ability to pay off debt.
What is Credit Score?
Name at least 4 types of insurance you can purchase.
What is: Life, Rent, House, Car, Health, Pet, etc.
List the following investment types in order from lowest to highest risk:
Bonds, Savings Account, Stocks
What is: Savings Account, Bonds, Stocks?
This is a letter that expresses your interest or motivation for applying for the job.
What is a cover letter?
This is the money earned BEFORE taxes are taken out.
What is GROSS pay?
Explain what an APR of 20% means
This is the yearly cost of borrowing money. For instance, if you borrowed $1000, you would owe 20% of $1000 = $200 in interest payments PLUS the original amount borrowed.
This is the amount you pay (usually per month) to have insurance
What is Premium?
Having many different types of investments.
What is DIVERSIFICATION?
List 3 things that should be on a resume.
(many answers)
Examples: personal info/contact, education, work experience, awards, skills
This is what it means to have a budget DEFICIT. (For example, a budget deficit of $500.)
You have overspent by $500.
What are 2 of the factors that impact your credit score?
Examples:
payment history
amount owed (credit utilization)
Length of credit history
New Credit
Mix/Type (diversity) of credit
This is the amount the insurance will pay up to (and no more) for the accident/incident.
What is Coverage Limit?
This is a type of mutual fund that just MATCHES the market (like the S&P 500). It is ALREADY diversified.
What is an INDEX FUND?
List 3 things that should be on a cover letter.
(Many answers)
Examples: contact info, opening and closing paragraph, explaining interest in job
Explain the 50/30/20 budget method.
Spend 50% of your net pay on needs,
30 % on wants, 20% on savings.
This is the difference between leasing and financing a car.
Leasing: you don't own the car. You essentially "rent" the car
Financing: you borrow money to pay the full price of the car ( you own the car)
Generally speaking, the lower the price of your deductible...... the ___________ your premium cost.
What is Higher?
This is an EMPLOYER Sponsored retirement plan based on the money YOU will also contribute.
If they offer a match, max out that amount!
What is a 401K?
These are the things that you should do to prepare for an interview (List at least 2)
What is...
dress professionally, create a reference list, be on time, practice standard interview questions.
This is a situation in which you spend more than you have in your account, and the bank "loans" you the money. You have to pay it back WITH fees.
Name TWO of the 3 major credit unions.
What is
TRANSUNION
EQUIFAX
EXPERIAN
This is the type of car insurance that covers YOUR car when it is damaged by forces of nature or theft. This is NOT mandatory.
What is COMPREHENSIVE?
This is the type of retirement account that YOU set up (not your job). It also allows for tax free growth since you've already paid taxes on the money you put in so that you won't pay taxes when you take it out again.