Financial Literacy 101

1. Financial Literacy 101 By Glendale Area Schools Federal Credit Union Michelle Peterson, Vice President Glendale Area Schools FCU

2. Personal finances • Basic Education in Finances. • Do you know how to manage your own money? • Have a greater sense of independence. • Your Level of Freedom is Closely Tied to Your Level of Debt!

3. Finance Charges • Suppose you charge $1,000 on a 23.99% credit card. After that, you make no further charges and pay only the minimum each month. • The payment will start at $51 and slowly work its way down to $10. • You’ll make a total of 77 payments over the next six years + five months. • By then, you will have paid $573.59 in interest for your credit privilege. • That same balance at 9.9%will have been paid off with 17 fewer paymentsand paying only $176 in interest!

4. What is my credit score? Credit Scores: 800–850 Excellent 725-799 Good 600-724 Fair 280-599 Poor • https://www.annualcreditreport.com

5. How to use Credit cards wisely Don’t Do Use your card for everyday purchases. Using your card as a substitute for cash. Make a habit of making minimum payments only. Close out a credit card without knowing how your credit will be effected. Buy things you can’t afford. • Make wise decisions about purchasing. • Pay off as much as you can every month. • Let your creditor know in advance if you won’t be able to make your monthly payment on time. • Stay within 30% of your credit limit. • Negotiate a lower interest rate.

6. Career development By Glendale Area Schools Federal Credit Union Michelle Peterson, Vice President Glendale Area Schools FCU

7. Resume Building Tips • Prepare. • GoogleSearch: Articles on latest interviewing & resume writing tips. • See hand out for more information & website resources. • Find friends and family with a resume, ask them for help. • Before you interview, research the business. • Change your greeting on your cell phone.

8. Resume Building Tips • All job experiences. • Internships & volunteering. • High school and community accomplishments& GPA. • List your references. • 3 People who can be contacted as character references. • Obtain letters of references from teachers, church elders, bosses.

9. Appearance Are you dressing for success?

10. What else makes a first impression? Do employers really check? According to Forbes Magazine (03/05/2012) Thereddest flags for most employers seem to be drugs, drinking, badmouthing former employers, and lying about one’s qualifications. But there’s another good reason for checking out a candidate’s Facebook page before inviting them in for an interview: it may be a fairly accurate reflection of how good they’ll be at the job.

11. Questions you should ask the interviewer • What are the biggest challenges you are facing that I may be able to help you with if I were chosen for this position? • How can I make your job easier, what are your goals that this position can contribute to? • What does success look like within the first 6 months? • How do you measure success for this position? • Is there anything else that you need to know about me that will help you make the hiring decision?