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

New Service at Social Security

Posted on January 21, 2017 by Melissa Hart

In December 2016, Social Security launched a new service for my Social Security account holders where they can check on the status of an application for benefits or an appeal filed with Social Security.  The service provides detailed information about retirement, disability, survivors, Medicare, and Supplemental Security Income claims and appeals filed either online at socialsecuarity.gov or with a Social Security employee.

The ability to check your application status is available online to everyone who has or opens a secure my Social Security.  You can open an account at www.socialsecurity.gov/myaccount.  The service provides important information about your claim or appeal including

  • date of filing,
  • current claim location,
  • scheduled hearing date and time, and
  • claim or appeal decision.

If you are unable to open a my Social Security account you can still call 1-800-772-1213 to check your claim status by using the automated system using the confirmation number you received when you filed your claim.

For more information click here.

Teaching Suggestions

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

  • Stress the importance of learning about my Social Security and other services provided by the Social Security Administration.
  • Encourage students to visit the Social Security website and open a my Social Security account.

Discussion Questions

  1. What might be some advantages of opening my Social Security account?
  2. What might be some drawbacks to open my Social Security account?
  3. Can hackers get into your my Social Security account?
Categories: Chapter_14, Retirement Planning | Tags: , | Leave a comment

Smart Money Moves for January

Posted on January 14, 2017 by Melissa Hart

With a new year, many people hope to get a fresh start with changes in their financial planning activities. To do so, the following actions are suggested:

  • Maintain or increase the amount of money in your emergency fund.
  • Pay off high-interest credit cards and other expensive loan accounts.
  • Set goals that will contribute to long-term financial security.
  • Review your cash flow (spending and income) from the previous year in an effort to increase saving by avoiding unnecessary payments.
  • Merge various banking, investment, and retirement accounts into one low-cost account.
  • Determine if changes are needed in your estate plan.
  • Increase your retirement account contributions.
  • Revise your tax withholding, as needed

For additional information on January money moves, click here.

Teaching Suggestions

  • Have students talk to various people about which actions they believe to be most valuable for long-term financial security.
  • Have students create a brief presentation describing the value of one of these suggested money actions.

Discussion Questions 

  1. Describe the January money actions that you consider to be most valuable for long-term financial security.
  1. What are some other money moves that you would recommend?
Categories: Chapter 1, Chapter 2, Financial Planning | Tags: | Leave a comment

5 Things You Need to Know About Dow 20,000

Posted on January 7, 2017 by Melissa Hart

“The Dow’s ongoing flirtation with the 20,000 market milestone is the talk of Wall Street.”

The 120-year-old Dow Jones Industrial Average consists of 30-blue chip stocks that make up arguably the world’s best-known stock index.  At the time of this article and this blog post, the average is trading at near record levels and threatening the break the 20,000 mark.  So how important is breaking the 20,000 barrier?  Consider the following five questions.

  1. Why, with the Dow so Close to 20,000, can’t it get over the hump?
  2. Is Dow 20,000 a big deal?
  3. Does a new milestone mark a new stage of the bull run we’ve seen?
  4. Will Dow 20,000 improve the mood of investors?
  5. Is Dow 20,000 a reason to buy?

Adam Shell, in this USA Today article, provides some answers to the above 5 questions that can help investors keep a more balanced perspective on what a Dow 20,000 really means for both individual investors and the economy.

For more information, click here.

Teaching Suggestions

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

  • With so much in the news about the stock market, record high values, a possible correction or pullback in market values, the Federal Reserve’s interest rate changes, and other economic factors, you may want to use this article and this blog post to explain why the Dow Jones Industrial Average is just one of many factors that affect investors, the market, and the economy.

Discussion Questions

  1. Since the Dow Jones Industrial Average is in record territory, is this a good time to invest in the stock market? Explain your answer.
  2. At the time you answer this question, what is the current Dow Jones Industrial Average? Has it gone up or down in the last six months, and what affect has the change had on the stock market and the economy?
Categories: Chapter_12, Investments, Stocks | Tags: , | Leave a comment

Learning How Money Works

Posted on December 24, 2016 by Melissa Hart

 Many people grow up without learning how money works, which usually results in difficulties.  Studies reveal that less than one-fourth of millennials have basic financial knowledge.

A vital starting point in the learning process is admitting that you don’t know.  For example, most people do not know that credit scores show if a person has paid his or her bills on time and how much has been borrowed.  Most people are not aware that credit reports often contain incorrect information, or how to check for errors.

Credit card rewards may seem like a good deal but only is you pay your bill on time every month.  If you don’t, late fees and interest charges can more than outweigh any reward point benefits.

These are just two areas on which many young people, as well as others, lack a basic understanding. However, a wide variety of sources are available to add to your knowledge.

For additional information on learning how money works, click here.

Teaching Suggestions

  • Have students conduct research to determine the financial knowledge among various age groups.
  • Have students create a video presentation with suggestions for improving financial knowledge.

Discussion Questions 

  1. Why are people often not informed on basic money topics?
  2. What are the most common topics that on which many people lack basic financial knowledge?
Categories: Chapter 1, Chapter 2, Financial Planning | 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

Social Security Retirement Estimator

Posted on December 10, 2016 by Melissa Hart

How the Retirement Estimator Works

The Retirement Estimator provides estimate based on your actual Social Security earnings record.  Social Security can’t provide your actual benefit amount until you apply for benefits, they will be adjusted for cost-of-living increases.  And that amount may differ from estimates provided because:

  • Your earnings may increase or decrease in the future.
  • After you start receiving benefits, they will be adjusted for cost-of-living increases.
  • Your estimated benefits are based on current law. The law governing benefit may change because, by 2034, the payroll taxes collected will be enough to pay only about 79 cents for each dollar of scheduled benefits.
  • Your benefit amount may be affected by military service, railroad employment or pensions earned through work on which you did not pay Social Security tax.

For more information, click here.

Teaching Suggestions

  • Ask students to gather the information they will need to calculate their retirement benefit.
  • Help students understand that their social security benefits will be reduced if they retire before their retirement age.

Discussion Questions

  1. Is it better if you wait until your retirement age to collect social security benefits?
  2. What might be the consequences if you decide to work after you retire?
Categories: Chapter_14, Retirement Planning | Tags: , | Leave a comment

Reducing Impulse Buying

Posted on December 3, 2016 by Melissa Hart

All buying decisions fall into two categories: (1) items we need; and (2) items we want. Financial difficulties often occur when the categories are blurred. People try to convince themsleves that things they WANT are things they NEED, when often that is not the situation. Our true needs involve a fairly short list:  food, air, water, shelter, health care (including health insurance), clothing, and maybe…Internet access.

However, Internet access can be basis of our financial troubles. Time spent browsing online can result in many unneeded purchases.  How might you avoid this?  The following suggestions are offered:

  • Don’t buy an item right away. Delaying a purchase allows you to consider the value more carefully.
  • Review the purchases you delayed for at least a month to determine if the urge to buy the item still exists, and if the money is available.
  • Delete from your “wish list” any items that you no longer desire to buy.
  • Consider returning an item, as allowed, when the purchase does not meet your expectations.

For additional information on reducing impulse buying, go to:

Link #1

Link #2

Teaching Suggestions

  • Have students describe purchases that might have been avoided using the suggestions above.
  • Have students talk to others to create a list of methods to reduce impulse buying.

Discussion Questions 

  1. Why are some people continually involved with impulse buying?
  2. What are the short-term and long-term financial consequences of impulse buying?
Categories: Chapter 6, Uncategorized, Wise Shopping | Tags: , | Leave a comment

Preparing Your Finances for a Flood, Fire, or other Disaster: Having a Plan

Posted on November 26, 2016 by Melissa Hart

Without warning, a flood, fire or other disaster could leave you with a severely damaged home, destroyed belongings and barriers to managing your finances.  Many people think of disaster preparedness as having a stockpile of water, canned food, and flashlights, but people also need access to cash and financial services.  That’s why it is important to include financial preparedness in your disaster plans.  Here is the latest summary of important preparations.

You should have enough insurance to cover the cost to replace or repair your home, car and other valuable property, as well as temporary housing if you are displaced from your home.  Those who do not own a home should have renters insurance.  Also, make sure that you have the right coverage for the types of disasters likely to occur in your area.  For example, homeowner’s insurance does not typically cover events such as flooding or earthquakes, so you may want to consider whether you need additional coverage.

  • Periodically review your insurance coverage
  • Build and maintain an emergency savings fund
  • Sign up for direct deposit of your paycheck or government benefits
  • Gather and organize important documents

For more information, click here.

Teaching Suggestions

  • Ask students to prepare a household inventory with a description and the value of belongings.
  • Help students understand that renter’s insurance is important for the protection it provides for their personal property.

Discussion Questions

  1. How can you protect yourself from flood, fire or other natural disasters?
  2. Should you consider purchasing flood-related insurance if you don’t live in a coastal area? Why or why not?
  3. Why is it important to gather and organize important documents before a disaster strikes?
Categories: Chapter 8, Home Insurance, insurance | Tags: , | Leave a comment

Financial Fears

Posted on November 19, 2016 by Melissa Hart

According to the Northwestern Mutual Planning and Progress Study on financial well-being, Americans have several worries.  Based on interviews with 2,646 adults, 85 percent of respondents reported financial anxiety in some form.  Approximately two-thirds of those surveyed indicated that financial anxiety negatively affected their health.  In addition, 36 percent of those responding had increasing levels of financial anxiety over the past three years.

In the study, the greatest financial fears were:

  1. Having an unplanned emergency
  2. Having unplanned medical expenses
  3. Having insufficient savings for retirement
  4. Outliving retirement savings
  5. Becoming a financial burden
  6. Not able to afford healthcare
  7. Loss of a job
  8. Identity theft
  9. Extended unemployment
  10. Death/loss of primary wage earner
  11. Having poor credit
  12. Having to file bankruptcy
  13. Being a victim of a financial scam

To address these concerns, the study recommends the following actions:

  • build an emergency fund for unplanned expenses
  • invest properly for retirement and long-term financial security
  • review your finances regularly to revise goals and savings activities

These actions can help to reduce the financial anxiety reported by a large portion of Americans.

For additional information on financial anxiety, go to:

Link #1

Link #2

Categories: Chapter 1, Chapter 2, Financial Planning | Tags: , | Leave a comment

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