Monthly Archives: October 2015

Tricky Interview Questions

Posted on October 31, 2015 by Melissa Hart

Trick questions are designed to help hiring managers get to the real person who is being considered for employment. Using well-chosen questions, the interviewer can obtain a true profile of the person being interviewed. These questions are also designed to obtain information that the candidate may be trying to conceal. Some common interview questions that might seem tricky but are used for attempting to gather valid information include:

  • How would you describe yourself in one word?
  • What do you want to work here?
  • How do you define success?
  • What’s a difficult situation that you encountered? What actions do you take?
  • How does this position compare to others you are applying for?
  • Why do you want to work here?
  • What accomplishment are you most proud of?
  • What kind of boss and coworkers have you had the most and least success with, and why?
  • Have you ever considered being an entrepreneur?
  • If you could work for any company, where would you work?
  • What would you do if you won $5 million tomorrow?
  • Have you ever been asked to compromise your integrity by your supervisor or colleague?
  • Can you give us a reason someone may not like working with you?

When encountering these questions, career experts recommend answers that are honest, concise, and focused on your skills, competencies, and achievements.

For additional information on tricky interview questions, click here.

Teaching Suggestions

  • Have students ask another person interview them using some of these questions.
  • Have students obtain sample interview questions and effective interviewing techniques using online research.

Discussion Questions

  1. What are common mistakes when answering interview questions?
  2. How might a person improve their interviewing skills?
Categories: Career_Appendix, Skills Development, _Appendix B | Tags: , | Leave a comment

Financial Fragility of American Households

Posted on October 28, 2015 by Melissa Hart

A recent study from the Federal Reserve reports that almost half of consumers are not able to come up with $400 to cover an emergency expense.  In contrast, the study of 5,800 Americans reported that almost one-third of Americans believed their income would increase in the upcoming year.  However, many appear to be living one big expense away from financial disaster.

Other findings of the study include:

  • Forty-seven percent didn’t have the cash to pay for a $400 emergency expense.
  • One in five participants in the study reported spending amounts greater than their income.
  • “Underemployment” is a major concern for workers since part-time work often means a lack of benefits, especially health care coverage.
  • Nearly one in five Americans has nothing set aside for retirement; 39 percent of report that they have either given no thought or only a little to planning for retirement.

Despite these difficulties, Americans have seen a “mild” improvement in how they view their economic well-being since the recession ended. About 40 percent reported they were either “somewhat” or “much better” off than they were in 2009.

The report reflected that the recovery is only benefiting some.  About half of college-educated respondents said they are better off than in 2009; only 37 percent of those without a bachelor degree reported an improved economic situation.

For additional information on the financial fragility of Americans, click here.

Teaching Suggestions

  • Have students talk to various people about their economic situation compared with five years ago.
  • Have students create survey questions that might be used to measure the financial condition of a household.

Discussion Questions 

  1. What are common measurements of personal economic well-being?
  2. How might a person take action to improve personal economic well-being?
Categories: Chapter 1, Chapter 2, Financial Planning | Tags: , | Leave a comment

Internet Fraud

Posted on October 24, 2015 by Melissa Hart

How many people are scammed into sending money or giving personal information each year?
Answer: Millions!!

Types of Internet Fraud

  • Internet auction fraud—involves the misrepresentation of a product advertised for sale on an Internet auction site, or non-delivery of merchandise.
  • Credit card fraud—the unauthorized use of credit/debit card, or card number, scammers fraudulently obtain money or property.
  • Investment fraud—an offer using false claims to solicit investments or loans, or providing purchase, use, or trade of forged or counterfeit securities.
  • Nigerian letter or “419” fraud—named for the violation of Section 419 of the Nigerian Criminal Code, it combines the threat of impersonation fraud with a variation of an advance fee scheme in which a letter, e-mail, or fax is received by a victim.

Tips for Avoiding Internet Fraud

  • Know your seller – If you don’t know who you are buying from online, do some research.
  • Protect your personal information – Don’t provide it in response to an e-mail, a pop-up, or website you’ve linked to from an e-mail or web page.

For more information, click here.

Teaching Suggestions

  • Bring to class Internet-related problems and examples of individuals or families. Suggest ways in which these problems might be solved.
  • Compile a list of places and organizations where a person can call to report Internet fraud.

Discussion Questions

  1. While the Internet makes everyday tasks faster and more convenient, like stopping, banking, and communicating, why it’s important to be safe, secure, and responsible online.
  2. What are some basic precautions we can take to protect our computer and personal data from theft, misuse, and destruction?
Categories: Chapter 6, Credit Cards, Frauds and Scams, Identity Theft | Tags: , , , | Leave a comment

Teaching Financial Literacy

Posted on October 21, 2015 by Melissa Hart

While science, math, and history are vital for academic and career success, many high school graduates lack knowledge of basic money management skills.   Along with other subjects, effective financial education should be rigorous, relevant, meets standards, and have engaging learning experiences. Those teaching personal finance should be well-qualified and supported by adequate resources.

In recent years, financial education is referred to as financial literacy or financial capability.  In the past, these topics were taught in math, social studies, business and, consumer science (previously called home economics) courses.  More recently, an extensive number of free or low-cost financial literacy programs and resources have been developed.  Financial institutions, businesses, government agencies, professional associations, and non-profit organizations have collaborated in this effort.  The National Standards in K-12 Personal Finance Education, published by the Jump$tart Coalition for Personal Financial Literacy, provides teachers with a guidance.

For additional information on teaching financial literacy, click here.

Jump$tart Coalition for Personal Financial Literacy

Teaching Suggestions

  • Have students ask people to describe their definition of “financial literacy.”
  • Have students develop a learning activity to effectively teach financial literacy.

Discussion Questions 

  1. What are considered to be the main elements of financial literacy?
  2. Why is financial literacy important for all students?
Categories: Chapter 1, Chapter 2, Financial Planning | Tags: , | Leave a comment

Fake Payday Loan Debts

Posted on October 17, 2015 by Melissa Hart

In September 2015, the Federal Trade Commission banned Kirit Patel and his company, Broadway Global Masters, from the debt collection business. Patel and his company illegally collected more than $5.2 million in fake payday loan debts.  He also pleaded guilty to the Department of Justice on charges of criminal mail and wire fraud.  Specifically, Patel’s company:

  • Called people and pushed them to pay debts they didn’t really owed,
  • Posed as law enforcement and fake government agencies like the “Federal Crime Unit of the Department of Justice”,
  • Threatened to sue or arrest people—or tell their family and employers about a debt, and
  • Recited people’s Social Security and bank account numbers to seem legit.

So how can you tell if you’re being targeted by a fake debt collector?  A caller may be a fake debt collector if:

  • You don’t recognize the debt,
  • You can’t get a mailing address or phone number for the collector,
  • You’re asked for personal financial or sensitive information, and
  • You’re threatened with arrest or told you’ll be reported to a law enforcement agency.

For more information, click here.

Teaching Suggestions

  • Ask students to prepare a list of steps they should take if they receive a call from a debt collection agency.
  • Encourage students to visit a local office of the Consumer Credit Counseling Service. What assistance is available if the debt is legitimate, but the debt collector is not?

Discussion Questions

  1. What can governmental agencies do to stop scammers from bilking honest and innocent people?
  2. Why is it important to obtain and review your free credit reports at least once a year?
Categories: Chapter 5, Debt, Frauds and Scams, Uncategorized | Tags: , | Leave a comment

4 Tricks for Getting Rid of Your Nerves and Appearing More Confident in a Job Interview

Posted on October 14, 2015 by Melissa Hart

“There are endless telltale signs of nervousness at work or in a job interview. . . “

This Business Insider article describes typical signs of nervousness that applicants experience during a job interview which include sweating, rapid blinking of the eyes, stammering, and many other symptoms.  Hope Restle, the author of this article, provides 4 recommendations to help you remain calm during the job interview.  Each recommendation is accompanied by more information about how the recommendation can help and real-world examples of how it can reduce stress and nervousness.  Specifically,

  1. Recall a memory that inspires positive emotions.
  2. Create a secret gesture that corresponds with a positive experience you’ve had in your life.
  3. Silently repeat a mantra or saying to help you relax.
  4. Be interested in what the other person says.

At the end of this article, there is also a link to a video that describes questions that you should never ask during a job interview.

For more information, click here.

Teaching Suggestions

You may want to use the information in this blog post and the original article to

  • Help students prepare for a job interview.
  • Point out that the 4 recommendations can also be used to reduce stress in other situations where someone gets nervous.

Discussion Questions

  1. Assume that you are applying for a new job that you really want. What can you do to remain calm and reduce that “nervous feeling” during a job interview?
  2. In today’s complex world, it is not uncommon for people to become nervous during a typical day. What can you do to reduce stress in your daily activities?
Categories: Career, _Appendix B | Tags: , , | Leave a comment

Establishing or Rebuilding Credit Scores

Posted on October 10, 2015 by Melissa Hart

Your credit scores are prepared by FICO and other companies and are mainly based on your history of managing debts, such as whether you tend to make payments on time.  Your scores play a significant role in your everyday life because the next time you apply for a loan or credit card—or perhaps a new apartment or insurance—your scores could affect the final decision, including your costs.

For many consumers with damaged credit scores and those with no credit record, here are some ways to improve your credit scores.

  1. Consider consulting with a reputable credit counseling service.
  2. Understand what information is most likely to influence your credit scores.
  3. Obtain and review a copy of your free credit report.

For more information, click here.

Teaching Suggestions

  • Ask students if they know how to obtain their free credit reports from credit bureaus. If they already have received their credit report(s), did they find any errors?
  • What can you do if your credit report contains erroneous data or records of someone with a name similar to yours?

Discussion Questions

  1. Why it is important to review your credit files every year even if you are not planning to apply for a big loan?
  2. What are your legal remedies if a credit reporting agency engages in unfair reporting practices?
Categories: Chapter 5, Credit Scores | Tags: , , | Leave a comment

Mortgage Calculator

Posted on October 7, 2015 by Melissa Hart

“A house is the largest purchase most of us will ever make so it’s important to calculate what your mortgage payment will be and how much you can afford.” 

While technically not the usual article you expect to read on the Kapoor Money Minute blog, the information about this Bankrate mortgage calculator can help you determine how much your monthly home mortgage payment will be.  To use the calculator, you simply input the requested financial information in the boxes provided and the calculator will determine your monthly mortgage payment.  You can also access an amortization table that shows how much of each payment is for interest and how is used to reduce the unpaid balance on your home mortgage.

In addition to this calculator, the Bankrate.com site provides additional calculators and information on many personal financial topics.  Take a look and be surprised at the amount of useful information available on this site.

 For more information, click here.

Teaching Suggestions

You may want to use the information in this blog post and the original article to

  • Use the calculator to help students determine how much house they can afford.
  • Discuss other expenses that could increase the cost of home ownership.

Discussion Questions

  1. Take a look at the information that you must enter in order to use the mortgage calculator described in this article.  How do the amount of the mortgage, interest rate, and term of loan impact the monthly payment for your home mortgage?
  2. In addition to your monthly home mortgage payment, what other costs can you expect when you buy a home?
  3. Buying a home is a “big” financial decision. Are there additional factors besides mortgage payment and other home ownership expenses that you should consider before making a decision to buy a home?
Categories: Chapter 7, Home Buying | Tags: , , | Leave a comment

Mutual Fund Rankings, 2015

Posted on October 3, 2015 by Melissa Hart

“If a bull market must continually climb a wall of worry, then the current bull, which started more than six years ago, should be on the brink of exhaustion.”

As a preamble to Kiplinger’s 2015 Mutual Fund Rankings, this article describes the concerns that investors have about interest rates, corporate earnings, the economy, political upheaval, and other factors that could impact not only mutual fund investments, but all investments and the U.S. and the world economy.

In addition the article also provides links to Kiplinger’s Mutual Fund Finder tool and specific information about the top-performing mutual funds including large-company stock funds, midsize-company stock funds, small-company stock funds, hybrid funds, large-company foreign stock funds, small- and midsize foreign stock funds, global stock funds, diversified emerging-market funds, regional and single-country funds, sector funds, and alternative funds.

For more information, click here.  

Teaching Suggestions

You may want to use the information in this blog post and the original article to

  • Remind students that there are many factors that can affect mutual fund investments.
  • Show students how to use the link to the Kiplinger Mutual Fund Finder tool that is described in the article.
  • Stress the importance of a long-term investment program–especially when planning for retirement.

Discussion Questions

  1. Assuming you believe there is a strong possibility the value of your mutual funds will decrease over the next 12 months, would you sell your funds or would you hold them? Explain your answer.
  2. Depending on your answer to the above question, what factors did you consider to help make your decision?
  3. Pick one fund you believe could help obtain your investment goals. Then use the Kiplinger Mutual Fund Finder to research the fund. Based on the information, would you still want to invest in this fund.
Categories: Chapter_13, Investments, Mutual Funds, Retirement Planning, Savings | Tags: , , | Leave a comment

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