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