Studied by 30 peopleExamples of wants & needs
wants- a pet, the new IPhone
needs- water, roof over your head, clothing
goal setting
be specific, be realistic, have a clear time frame, help you decide what type of action to take
short-term, intermediate & long-term goals
short-term- can be achieved in fewer than two months
intermediate- take from two months to three years to achieve
long-term- require three or more years to achieve
goal achieving pyramid
goals- be specific
S + T + P- strategies (what you need to do), tactics (how), process (plan)
Habits- 2 weeks
Beliefs- don’t doubt yourself, be positive
Why is it important for me to achieve this goal?- list reasons and post them
What creates habits?
a trigger, a routine, and a reward
the purpose of financial planning
arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals. Can improve personal relationships
What influences financial planning?
family structure, health, career choice & age
The percentages of your monthly budget
expenses- 70%
savings- 20%
debt- 10%
calculations of annuity
amount depositing per week x 52 weeks in a year x number of years depositing
examples of goods & services
goods- automobiles, appliances, clothing
service- salon, car wash, lawn mowing
How do people pick careers?
through skills & interests, what motivates them
career testing types & purpose
personality tests, interest inventories, skills & value assessments is a way to learn more about how well a variety of careers might suit you
job fairs
a recruiting event in which employers and recruiters meet with potential employees and where job seekers find more about job openings at potential employers
employment agencies: how works, fees
a way to find a job
ways to create a resume
chose a resume format, add the right contact details, pay attention to your work experience, add the right skills for the job, keep your education short and to the point
handshakes: how to do & who initiates
handshake should be firm (do not shake fingers)
either a man or women can initiate the handshake
work related training
enables you to gain the skills you need to perform your duties while contributing to your organization
how/where to find a career/job
job advertisements, networking, job fairs, calling businesses, visiting companies, employment agencies
questions you would be asked on an interview, including illegal ones
Tell me about yourself
Why are you the best person for the job?
Why do you want this job?
What is your greatest strength?
What is your greatest weakness?
Illegal-
Age or genetic information
Gender, sex or sexual orientation
Religion
information you need to know for an interview
your resume, predict the job interview questions and prepare answers
job opportunities
job advertisements, networking, job fairs, calling businesses, visiting companies, & employment agencies
career vs. job
a job is work done mainly to earn money, while a career is a commitment to work in a field that is found to be interesting and fulfilling
reasons to change careers/jobs
company downturn, career advancement, better pay, different work environment, work-life balance, flexible scheduling and a positive culture
when to plan for retirement
as early as possible
difference and example of self directed job and highly structured job
Self-directed teams can be defined as self-managed teams that have more decision-making power than “just” self organizing
self-directed- interior design, real estate
highly structured- doctor, lawyer
When do you ask about salary and benefits during the interview process?
by the second interview
Dress for an interview, accessories, materials to bring
dress- dress professional & appropriate
accessories- avoid dangling earrings & arms full of bracelets, the more simple the better
materials- your resume
storing files
personal balance sheet
categories on a balance sheet and budget
determine what you own and what you owe, measure your progress toward your financial goals, track your progress, organize information required to file your tax return or apply for credit
calculate net worth & net pay
assets - liabilities = net worth
the length of time to keep each type of financial document
three to seven years
examples of assets and liabilities
assets- cash, real estate, personal possessions
liabilities- medical bills, college tuition, mortgage loans
money management strategies
make a personal budget, track your spending, save for retirement, plan to pay off debt
how values affect spending
influence all decisions he or she make including financial decisions
dispute resolution programs
provides conflict resolution services to neighbors and others having on-going conflict that is not currently in the courts (mediation)
examples of economic, personal, & social factors
economic- prices, interest rate, product quality
personal- gender, age, occupation
social- lifestyle, interests, hobbies
4 phases of Researching Consumer Purchases
Phase 1: Before You Shop
-identify your needs
-gather information
-be aware of the marketplace
Phase 2: Weighing the Alternatives
-Identify what is important to you
-Compare prices
-do comparison shopping
Phase 3: Making the Purchase
-Negotiate the price
-Compare financing options. Know the down payment
-Know the real price
Phase 4: After the purchase
-Follow maintenance schedules
-Investigate, evaluate, negotiate servicing options
-Estimate ownership costs
why fix a design flaw?
a flaw inherent in a product or good itself
examples of design flaws and how to fix them
airpods- never connect at the same time
set up better bluetooth connection
IPhone Screen- could break when dropped
make the rim of the IPhone taller
Starbucks cups- break all the time
make out of stronger material
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