| TRUTH OR MYTH | DEBT AND CREDIT | DEFINITION | STATISTICS | JOBS |
|---|---|---|---|---|
|
Myth.
You can apply for scholarships and financial aid while also working throughout school to ensure that you won't have to borrow money.
You can't get through college without student loans.
|
Debt is an obligation of repayment owed by one party to a second party. In most cases, this includes repayment of the original loan amount plus interest.
What is debt?
|
Grace period.
What is the time period during which a borrower can pay the full balance as part of a court judgement referred to as?
|
80%
Americans overspend and accumulate too much debt.
What percent of Americans are living paycheck to paycheck?
|
Resume.
Nearly every person needs to have a well written, presentable, and honest resume when applying to jobs.
What is a brief account of one's professional or work experience and qualifications, often submitted with an employment application?
|
|
Myth.
The average millionaire reads one book per month.
Millionaires don't need to read.
|
$85 billion.
Too many people are not able to pay back their student loans on time.
How much of the total outstanding student loan debt is past due?
|
Gross pay is the amount made before taxes are taken out while net pay is the actual amount that is received.
What is the difference between gross and net pay?
|
Nearly 30%
They rack up too much debt and end up not being able to pay it all back.
What percent of students who borrow money end up dropping out of school?
|
Payment for work, usually calculated in periods of a week or longer. Salary is usually tied to the completion of specific duties over a minimum, but not maximum, number of hours.
What is a salary?
|
|
Myth.
Staying away from car payments by driving reliable used cars is what the typical person does.
Car payments are a way of life, and you'll always have a car.
|
Preferred method of debt repayment; includes a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest.
What is a debt snowball?
|
A long term investment is an account on the asset side of a company's balance sheet that represents the company's investment.
A short term investment is a part of the account in the current assets section of a company's balance sheet.
What is the difference between a long term and a short term investment?
|
39%
It is becoming easier than ever for 18 year old college students to get credit cards.
What percent of incoming college freshmen already have credit cards?
|
10-15 minutes early.
It shows that you are accountable and sensible.
What time should you arrive at an interview?
|
|
Truth.
The lottery is just a tax on the poor and on people who can't do math.
The lottery and other forms of gambling won't make me rich.
|
False.
A credit score is a measure of an individual's credit risk; calculated from a credit report using a standardized formula.
A credit score is a detailed report of an individual's credit history.
T/F? |
Individual Retirement Account (IRA) is a savings account with big tax breaks waking it an ideal way to save up money for retirement.
Internal Revenue Service (IRS) is a federal agency responsible for the collection of federal taxes.
What is the difference between the IRA and the IRS?
|
65%
What percentage of American households give to charity?
|
False.
You should ask the interviewer questions to show that you are interested, personable, and engaged in the conversation
You should not ask the interviewer any questions.
T/F? |
|
Truth.
Interest grows more and more when you draw out a loan. In the end, you'll just end up paying more for waiting.
Having a bigger time span but cheaper monthly payments on a loan ends up being more expensive than if you were to pay it faster at a higher cost.
|
157 million Americans.
They do not have the money to pay their debts off.
How many Americans have credit card debt to pay off?
|
Money.
What is guaranteed as legal tender by the government.
|
13.7%
What percentage of Americans have $0 saved up for retirement?
|
1) Introduction letter
2) Cover letter and resume 3) Follow up call/email
When applying for a job, you should always give the company:
|
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