_Appendix A

OVERCOMING INFLATION

Posted on July 16, 2022 by Melissa Hart

With inflation, you will not be able to avoid higher prices. However, there is one action you can take that will not be affected by inflation. As advocated by legendary investor Warren Buffet, one of the strongest protections against inflation is investing in yourself. Obtaining additional career skills and improving existing ones will keep you in demand.

These added skills, unlike a lower value of the dollar, are inflation-proof. Various career abilities will be in demand no matter what the dollar is worth. These competencies can’t be taken away from you, and this investment in yourself is not taxed.

As a business owner or investor, the advice is similar. Offer a top-level product or service that will be in demand even in times of inflation. As noted by Buffet: when inflation is high the best thing you can do is be exceptionally good at something.

For additional information on an inflation strategy, click here.

Teaching Suggestions

  • Have students talk to others to learn about the actions they have taken in their lives to enhance and expand their career skills.
  • Have students research online sources available for free and low-cost classes and certification programs to enhance a person’s career skills.

Discussion Questions 

  1. What actions are you taking to enhance or expand your career skills?
  2. What are examples of exceptional products or services that might be in demand even in times of inflation?
Categories: Career, Chapter 1, Chapter 2, Financial Planning, _Appendix A, _Appendix B | Tags: , , | Leave a comment

Fill out the FAFSA

Posted on November 7, 2020 by Melissa Hart

For many people, how to pay for a college education is one of the major financial decisions before deciding on a school. There are many different ways to pay for college. Understanding your choices can help you make the right decision for your situation.

Start by completing the Free Application for Federal Student Aid (FAFSA)

A critical first step for many prospective students is to complete the FAFSA . FAFSA completion is an important part of the student aid process.

Due to the coronavirus pandemic, some states have extended their FAFSA deadlines. . Contact your school’s financial aid office to find out if their priority FAFSA deadline has been extended.

Why fill out the FAFSA?

Filling out the FAFSA is required if you want to apply for federal assistance, including grants, loans and work study. Your eligibility for need-based federal aid, such as Pell Grants and subsidized student loans is determined by your FAFSA submission.

Filling out the FAFSA does not commit you to taking out student loans or accepting the financial aid offered. However, if you do not submit a FAFSA you will not be able to access federal grants or other forms of federal financial aid.

In addition, states typically require students to complete the FAFSA to qualify for state grant programs, and most colleges and universities will not consider awarding any institutional aid, until the FAFSA has been submitted.

Even if you have not finalized your plans for this fall, consider filling out the 2020-2021 FAFSA sooner rather than later, many state and schools award aid on a first-come, first-serve basis and may have established earlier, “priority” deadlines. If you miss a key deadline to complete the FAFSA, you will limit your ability to qualify for state or institutional funding.

For more information:

finaid.org

http://studentaid.ed.gov

Teaching Suggestions

  • Ask students why it is important to complete the FAFSA form sooner than later?
  • What basic information is needed before beginning the FAFSA application process?

Discussion Questions

  1. Where can you get assistance if you need help in filling out the FAFSA form?
  2. Why is important to take advantage of any scholarships and grants before applying for a federal loan?
Categories: Debt, _Appendix A | Tags: | Leave a comment

The Single Best Question to Ask in a Job Interview

Posted on January 28, 2017 by Melissa Hart

“What did you do to prepare for this interview?”

According to CNBC contributor and author Suzy Welch, the above question is the most important question that a manager can ask and the best question a prospective employee can answer.  She explains she has asked this question for years and is always surprised at the answers she gets from prospective employees–answers that are the good, the bad, and the ugly.  One answer stands out.  When asked what she did to prepare for the job interview as my personal assistant, the applicant answered, I’ve been stalking you for three days.  Welch loved the answer because stalking  involved reading virtually everything she could find written about Welch plus reading and scanning everything I’ve ever written online and in print.

Not all answers display the passion that a job applicant should have.  For example, one applicant answered, “Well I drove here last night with my boyfriend so I wouldn’t get lost today.”  Not an answer that would demonstrate the kind of passion and curiosity and most importantly, the resourcefulness Welch was looking for.

For more information, click here. 

Teaching Suggestions

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

  • Stress the importance of doing some detective work when preparing for a job interview.
  • Point out there are many websites that can help job applicants prepare for a job interview.

Discussion Questions

  1. Assume you unemployed and have scheduled a job interview with a human resources manager for a bank teller position at a local Bank of America branch. What would you do to prepare for your interview?
  2. What traits or skills do you have that would make the bank want to hire you for this position? How can you tell or illustrate your traits and skills during the interview process?
Categories: Career, Chapter 1, _Appendix A | Tags: , , | Leave a comment

A Summary Instead of a Career Objective

Posted on December 17, 2016 by Melissa Hart

Since the career objective presented on most resumes is too general and unfocused, hiring managers recommend a career summary. When developing a resume summary, consider the following actions:

  1. Plan a clear direction that emphasizes the skills and experience directly related to your career area. Communicate results and accomplishments that highlight your strengths.
  2. Research the industry to obtain an understanding of the trends and career competencies you will encounter.
  3. Develop phrasing that communicates the value you can add to an organization.

A resume summary can be appropriate for highlighting your work history and when transitioning careers. This resume feature also allows you to clearly communicate your personal brand.

For additional information on career summaries, click here.

Teaching Suggestions

  • Have students search online for sample career summaries for industries of interest to them.
  • Have students create a career summary that reflects their current competencies and experiences.

Discussion Questions 

  1. Why are career objectives discouraged on resumes?
  2. What actions might be taken to develop an effective career summary?
Categories: Career, _Appendix A | Tags: | Leave a comment

Paying for College

Posted on July 30, 2016 by Melissa Hart

It’s more important than ever for students and former students to make smart decisions about financing their college education.  Whether you are attending college soon, are a current student, or already have student loans, Consumer Financial Protection Bureau has put together some tools and resources to help you make the best decisions for you.

If you are considering student loans to help pay for school, you not alone—many students need loans to cover their full cost of attendance.  If you have to take out student loans, comparing your options can help you find the student loan best suited for your needs.

Consumer financial Protection Bureau has prepared student financial guides, financial aid shopping sheet adopted by more than 500 colleges and universities, and other helpful information on its website.

For more information, click here.

Teaching Suggestions

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

  • Help students appreciate that the Consumer Financial Protection Bureau overseas private lenders, debt collectors, and loan services that manage borrowers’ payments and billings.
  • Describe why one-in-four student loan borrowers are past due or in default on a student loan.

Discussion Questions

  1. When borrowers default on a student loan, what might be some adverse consequences on their credit?
  2. Do you believe the student loan market lacks consistent standards that cover the servicing of all private and federal student loans?
  3. What can the federal and state governments to protect consumers in this market?
Categories: Debt, Wise Shopping, _Appendix A | Tags: , , | Leave a comment

Beware of Illegal Student Debt Relief Schemes

Posted on May 7, 2016 by Melissa Hart

In March 2016, the Consumer Financial Protection Bureau requested a federal court to shut down a student debt relief company that charged borrowers millions of dollars in illegal upfront fees and for federal student loan services.  The court order would also require the company, Student Loan Processing.US, to pay refunds to thousands of harmed consumers and civil money penalty.  If the proposed judgement is entered by the court, the company must:

  • Shut down illegal operations: Student Loan Processing.US must shut down all operations within 45 days of the entry of the court’s judgement.
  • Cancel all contracts with consumers and stop charging them.
  • Pay consumer refunds.
  • Stop participating in the debt relief and student loan industries.
  • Ensure student loan borrowers do not miss important repayment benefits.
  • Pay a civil penalty.

For more information, click here.

Teaching Suggestions

Discussion Questions

  1. How can you protect yourself from companies engaged in deceptive marketing practices, or otherwise violate federal consumer protection laws?
  2. Is it possible for government agencies to permanently shut down companies that defraud consumers?
Categories: Debt, _Appendix A | Tags: | Leave a comment

Attention College Students: Student Loans, Debit and Prepaid Cards

Posted on December 5, 2015 by Melissa Hart

College students often make financial decisions that can have consequences for years.  Getting a student loan or credit cards can influence long-term financial success.  Here are the ways to strengthen your decision-making skills:

  1. Do your research before applying for a student loan. If you have to borrow to pay for some or all of a college education, review the different types of student loans.  Choose one that’s low-cost and has a flexible repayment terms, which will generally be a federal student loan.
  2. Understand the pros, cons and costs of debit and prepaid cards. Debit cards enable you to withdraw money from your checking accounts for purchases or cash.  Prepaid cards are used to access money that has been loaded (added) onto the card, which is not connected to a bank account.
  3. Use credit cards responsibly: While credit cards are a convenient way to establish a credit history, they can make it easier to spend money. Purchases that cannot be paid in full by the due date will incur interest

For more information, click here.

Teaching Suggestions

  • Ask students if they have an outstanding student loan. Was the process of financing an education daunting and time consuming?
  • Ask students to visit the College Affordability and Transparency Center website (collegecost.ed.gov) for choosing the financial aid package that best suits their needs.

Discussion Questions

  1. Why is it important that you find the most affordable education that fits your budget, future career, and long-term financial goals?
  2. What might be the benefits of understanding the pros, cons, and costs of debit and prepaid cards?
  3. Are school-affiliated cards the best deal for all students? Why or why not?
Categories: Chapter 5, Credit Cards, Debt, _Appendix A | Tags: , | Leave a comment

Get Help to Make Informed Financial Decisions About How to Pay For College

Posted on September 16, 2015 by Melissa Hart

It’s more important than ever for students and former students to make smart decisions about financing their college education.  Whether you are attending college soon, are a current student, or already have student loans, here are some tools and resources to help you make the best decisions for you.

For many people, how to pay for a college education is one of the first major financial decisions they’ll make.  The Consumer Financial Protection Bureau has published excellent guides on paying for college. These guides cover some of the big decisions you’ll face and will help you understand your options for financing your college education.

If you’re considering student loans to help pay for school, you’re not alone—many students need loans to cover their full cost of attendance.  If you have to take out a student loans, comparing your options can help you find the student loan best suited for your needs.

For more information, click here.

Teaching Suggestions

  • Ask students if they applied for a student loan. What steps did they take to successfully obtain a loan?
  • Ask students to prepare a list of several federal and state sources of student loans for college.
  • Ask students if they had any problems in filling the Free Application for Federal Student Aid (FAFSA) form. How was the problem resolved?

Discussion Questions

  1. If a student is eligible for a federal loan, why is it important to take subsidized loans first?
  2. If you have to borrow money for school, what are your options?
  3. What should you consider when shopping for a private loan?
Categories: Financial Planning, _Appendix A | Tags: , | Leave a comment

The New Grad’s Guide to Student Loan Debt

Posted on July 1, 2015 by Melissa Hart

“Finishing college is surely cause to celebrate—but it is also time for some hard realities to hit.” 

This article provides information about what happens after graduation and you have to start paying back student loans.  Specific information includes:

  1. When you will start making payments
  2. How much you will pay and which repayment option to consider
  3. How to make your payments
  4. What happens if you want to change your repayment plan
  5. The importance of making a budget that includes your loan payments.

Note:  There are also links to a “very informative” video and additional articles at the bottom of this article that provide even more information about student loans and what happens if you don’t make payments.  Definitely worth a click.

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 understand that student loans are one way to finance their education, but loans should not be considered free money that doesn’t have to be repaid.
  • Illustrate what can happen if student loans are not paid back.

Discussion Questions

  1. Many students obtain student loans to help pay for their college education. Are there other options that can be used to pay for college?
  2. Assuming that you decide a student loan is the best way to obtain the money you need to pay for college, what steps can you take to understand the conditions of the loan agreement that you will sign in order to obtain the loan money?
  3. What happens when someone finishes college, but doesn’t make the student loan payments that are required?
Categories: Debt, Opportunity Costs, _Appendix A | Tags: , | Leave a comment

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