Chapter 1 - 2
Priscilla started her new job about 6 months ago. The project she is working on is slowing down so she decided to ask around in other departments to see if anyone needed her help. She ended up collaborating on two other projects to use up her free time. Priscilla is not only showing initiative at work but also being
A TEAM PLAYER
Marcy was scheduled for a 9:00 AM interview and she knew the commute would take 25 minutes. She left her house precisely at 8:30 AM, but due to a local protest march traffic was slower than usual and she did not arrive until 9:15 AM. She still met with the employer and completed her interview but the employer did not seem happy with her and she did not get the job. She could have had a much better interview in this instance if she had
ARRIVED EARLY
Rory really wants to become a go-to person in his office. As such, he will most likely avoid:
ASKING HIS BOSS IF HE SHOULD USE ONE OF HIS VACATION DAYS TO NOT WASTE COMPANY TIME SINCE HIS PROJECT IS SLOW
Just as your career is something that you manage, your time in college or your "college career" is something you manage too. You begin with developing the right
ATTITUDE
Joseph grew up in a wealthy home, went to a well-known university and has a large income. Assuming he is like most people in his situation, he is more likely to __________ than is a financially disadvantaged single parent working two minimum-wage jobs to support a family.
AVOID PLAYING THE LOTTERY AND BE FOCUSED ON AT LEAST ONE GOAL
Samantha just started her new job. She met a co-worker who has been there for several years and was higher up in the company. The co-worker offered to explain to Samantha how the company worked, what skills she needed to move up in the company and the types of accomplishments that the company rewarded. Basically, the co-worker was:
BEING A MENTOR
Louie keeps running out of money before his rent is due. He is not doing very well at controlling his spending. A good tool he should be using is a:
BUDGET
Yana has just completed her budget. Her take-home pay is $3,000 per month. Her monthly total household expenses are $1,500, her total debt payments are $910, and she spends $500 on food and entertainment and $205 on clothes. Her budget indicates a monthly:
BUDGET DEFICIT
Basic financial planning
CLEARS AWAY THE COMPLEXITY
A good ________________ lets you evaluate where you are in your college career and identify opportunities that will give you the skills and experiences a potential employer finds attractive.
COLLEGE CAREER PLAN
Hannah is trying to improve herself to boost her career. She has volunteered as part of her organization's fundraiser to be the one to present a unique fund raising idea to the local community and to announce each of the donors at the main event. On which element of self-improvement is she most focused?
COMMUNICATION
Ahmet is working on his budget process. He has already created an estimated one-month budget and tracked an actual month of spending. His next step should be to:
COMPARE THE TWO BUDGETS
________ is an action that you can take while in college to be better prepared for getting hired and being successful in your career.
COMPLETING AN INTERNSHIP TAKING THE RIGHT CLASSES SIGNING UP FOR INTERVIEWS JOINING STUDENT ORGANIZATIONS
John is a famous athlete that made over $30 million during his professional athletic career. However, within three years after retiring from sports, he went bankrupt. Like many famous people who go broke, John most likely does not know how to:
CONTROL HIS SPENDING
Kaitlyn was applying for a job. After the hiring manager read her application and reviewed her résumé, she didn't feel like Kaitlyn introduced herself or explained why she was seeking this job. Most likely Kaitlyn forgot to include her
COVER LETTER
Veronica just received her financial aid disbursement amount of $2,000. She subtracted out her one-time expenses such as books. What should she do next?
DIVIDE THE REMAINING AMOUNT BY THE NUMBER OF MONTHS SHE WILL NEED THE MONEY
Larry wanted to be fully prepared before attending the career fair at his college. He tried to summarize who he was, what he was seeking in a job, and how he could contribute in a quick 30-second introduction. In other words, he was practicing his:
ELEVATOR SPEECH
The reason it is suggested that you ________________ is so you handle the money the way you want to and make sure it is being spent on your highest priorities.
ESTABLISH FINANCIAL GOALS
To make sure your money is spent on your highest priorities, you should:
ESTABLISH FINANCIAL GOALS
The real reason most people attend college is to:
GET A BETTER JOB
Parvé has set a goal to accumulate $10,000 by investing a small amount of his paycheck each month and earning a reasonable amount of interest. He wants to use this money to buy a house. This is not a S.M.A.R.T. goal because:
HE DID NOT SET A TIME FRAME
Bershir manages his budget well and even makes a list before he goes shopping. However, it seems that every time he goes shopping he sees items not on his list that he really wants and spends way too much money on them and then ends up running out of money before his next paycheck. His biggest issue seems to be
IMPULSE BUYING
Your career is a lifetime journey of making good use of your:
KNOWLEDGE, EXPERIENCE, SKILLS, TIME IN COLLEGE
Chia is working with a financial planner who is concerned about the potential that interest rates could start rising soon, just before Chia is ready to buy a house. Her financial planner is focused on which common lifestyle force?
MACROECONOMIC CONDITIONS
Isaiah was looking for internship opportunities. He found one that was available during the fall semester in the career field of his choice, but it did not pay and it was not at the company he wanted to work for, so he turned down the offer. Isaiah:
MADE THE WRONG CHOICE - IT WAS IN HIS FIELD
Charissa is working full-time with a decent salary. She would like to save $12,000 to own her own condominium in four years. Her goal is considered
MID-TERM
Lisa has developed her goals and is managing her budget. The next step she should take in the financial planning process is:
MONITOR AND REVIEW
Ira has completed his monthly budget and notes that the difference between his monthly income and his monthly expenses is a shortage of (negative) $100. This means that Ira did what?
Must find another source of funds, such as finding an additional part-time job, to make up for the shortage. Must find another source of funds, such as from his savings account, to make up for the shortage. Must find another source of funds, such as using a credit card, to make up for the shortage. Spent $100 more for the month than what he made in income.
José is working on his social media profile page and attending some open events in his local community with several business leaders. José is ________________ to improve his job prospects.
NETWORKING
Franco's financial plan seemed to be going smoothly when suddenly he received a bill for $700 for personal property tax on his expensive car. This ruined his budget for the current month as well as the next several months. This could have been prevented if he had:
NOT FORGOTTEN NON-MONTHLY EXPENSES
Nate is nearing the end of his last semester and was fortunate enough to get called in for an interview. Nate felt he had a great interview and learned a lot about the company. For example, he didn't realize that the company was not just local, but had offices in 25 different states and in 3 other countries. He learned so much at the interview that he didn't even have any questions at the end. When he found out he didn't get the job, it was probably because he did not:
RESEARCH THE COMPANY
When looking at our acronym S.P.E.N.D., the letter 'N' refers to whom?
SALESPEOPLE, FRIENDS, CO-WORKERS, FAMILY
Deedra has been trying to be responsible with her money. She even paid off her student loans early! Unfortunately, her car broke down last week and the repairs cost her $1,000. Fortunately, she did not have to go into debt, but rather had the cash available in a separate account. Most likely this is because she had been
SAVING FOR EMERGENCIES
Bertha owns a $3,400 car, $490 in clothes, and $1,975 in electronic items and has $1,925 in her bank account. She has $7,100 in student loans and still owes $2,100 on her car. From this information we can conclude:
SHE HAS A NEGATIVE NET WORTH
You are not ________ and neither is anyone else, so you can use this to your advantage.
SPECIAL
Personal financial success is not about how much you make but about how much you
SPEND
Viola just completed her net worth worksheet. Her total net worth is a positive number. What does this mean for Viola?
THE TOTAL WORTH OF HER ASSETS EXCEEDS THE TOTAL AMOUNT OF HER DEBTS
Businesses buy things for one reason only:
TO MAKE A PROFIT
Ophilia really wants to be proactive and manage her career. She realizes it is called a career ladder and not a career elevator. To learn more about managing her career, she should:
VISIT WEBSITES ON THE TOPIC READ BOOKS ON THE TOPIC SEEK OUT EXPERTS ON THE TOPIC ATTEND SEMINARS ON THE TOPIC
Quincy is 62 years old and plans to retire later this year. He is concerned about his grown children and his grandchildren and wants to make sure he can provide as much support to them as possible, especially after he is gone. He is in the _____ stage of his financial life cycle.
WEALTH DISTRIBUTION
Shania is in her early 20s and just started her first real full-time job with benefits. She is engaged to be married and would like to buy a home within the next three years. Shania is in the _____ stage of her financial life cycle.
WEALTH PROTECTION
Gracie has determined that she would ultimately like to be a vice president of a bank, even though she knows she will not start out at that level. In fact, it may take her several years to reach that goal—and she may even have to get a master's degree in the meantime. Which of the career 'W's is she focused on?
WHERE DO YOU SEE YOURSELF IN FIVE YEARS?
Elijah is trying to decide on a career. Ultimately, he knows that his family is all on the East Coast and the most important thing for him is that he stays near his family no matter what career he chooses. Elijah has identified which career 'W' as the most important?
WHERE DO YOU WANT TO WORK
