1. 30% of final grade based on Exam
CFM FINAL EXAM REVIEW
30% of final grade based on Exam

2. THIS WEEKS SCHEDULE
Monday-Wednesday: Exam PowerPoint Review
Wednesday: Make-up time possible
Thursday: Mock trial (Report to library)
Friday: Exam in class
30% grade based one exam, 70% on binder checklist

3. BINDER You MUST have 75% of binder completed or better to get credit
All materials are set, except the car purchase part which goes into last section

4. Money Management Control your expenses!
Income is something that can change, but expenses are things you have control over
Career planning is good but once you graduate, control expenses

5. Resumes

6. Resumes PURPOSE: To get an interview, NOT to get a job
A bad resume means you cannot even get to the interview to attempt to get the job
A GOOD resume means you get to the interview and have a chance

7. Resume Goals NO errors at all Reverse Chronological order
Describe each skill past tense, using action verbs
Structure/Continuity
FULL PAGE

8. Resume Objective Section
Used to explain long term goal to employer
Only use if you have limited experience
Goals: Position advancements within the next 3-5 years, not longer or beyond your reach

9. Cover Letter

10. Cover Letter Purpose of a cover letter is to Request an interview
Resume is a listing of skills and the cover letter is a formal request for an interview
Tell employer where you learned of job opening and why you are a good fit in a general sense..

11. SCREEN Interviews
Purpose is to test your ability to fit into company and see if your resume skills can be explained
Screen interviews take 100’s of candidates and only move on 10-20
Screen interviews are usually minutes, use resume and review strengths and weaknesses

12. Interview Tips
“Tell me about yourself” is the intro question to make the interview go in a positive direction for the interviewee
Have a story to answer this question (Goals, why you entered your profession)

13. Interview Rules Get to interview site 10-15 minutes early
Have a notepad with you and 5-10 extra resumes
Sit up straight
Eye contact
ALL answers must be positive
Ask a question or more at the end

14. Banking Rules

15. Banking Rules

16. Banking Rules

17. Banking Rules
W-4 is a Withholding Certificate (Means how much is taken from your paycheck in federal and state taxes)
W-2 is a yearly income statement (Means a summary of your income from a job and all taxes taken out)
** Legally, a W-2 must be provided for you by end of January

18. Gross vs. Net pay
Gross pay is the amount of your total paycheck “Before” taxes and deductions are taken out
Net pay is the amount of your actual paycheck after all taxes and deductions are taken out

19. Pay periods Weekly Bi Weekly which means every other week
Bi monthly which means paid every 15 days
Monthly

20. TAXES

21. A 1040 EZ is a Federal tax form used when you first start to work
Compare your taxes taken from your check with what you actually owe
If you owe taxes, you must pay by April 15th
If you over paid, you get a tax refund

22. TAXES
Dependents: Anyone YOU are responsible for, including yourself (Spouse, children or even elderly parents)
Deductions: Anything that gets subtracted from your yearly total pay to lower your amount of tax owed

23. Cash vs. Credit
If a loan is taken out for something like a car payment, focus on the TOTAL AMOUNT of payments, not the monthly payment amount
Ex) If a car salesman tells you “I can lower your monthly payment from $400 a month to $300 a month, would that help you?” Research the total amount of the loan because even though the payments are lower, the total cost of the car is higher

24. Credit Example
A car loan with a $400 month payment made over 3 years would be 400x36 with payments which would equal $14,400 total (Car price would likely have been $12,000, meaning $2,400 in interest)
A car loan with a $300 a month payment made over 5 years would be 300x60 with payments which would be equal to $18000, or $3,600 more in interest, or a total of $6000 in interest
The 3 month payment is higher per month, but overall lower and a much better offer…

25. Personal Budget
Budgets are a comparison of expenses and income to see where you are spending your money and saving your money
Goals are a part of it, but the main purpose is to layout your expenses so you do not overspend and save properly

26. ZERO based Budget
A “Zero” based budget is a budget where you show a usage for all income you have for a month
In other words, you should have $0 left over after you lay out all your income and expenses
Money should go to savings, investments and retirement planning

27. Fixed vs Variable Expenses
Fixed expenses are things you pay each month, same amounts…
Examples are car payments, rent, insurance
Variable expenses are things that can change each month
Examples are things like Utility bills (Gas/Electric), entertainment expenses, unexpected bills

28. Expenses Rules… Know your fixed expenses and plan around them
Lower your variable expenses (If possible)
Plan for 10% or more in savings
DO NOT overspend!

29. Savings Goals
10% or more in emergency savings (Unexpected things like loss of job, roof repairs, etc)
Up to 15% in 401K (Retirement planning)
Extra savings goals (Holiday/Vacation planning, house buy planning)

30. Checking and Savings Checking accounts are used to pay bills
Savings accounts are safe ways to save (No risk, set-interest)
Checking and savings accounts can be linked for overdraft protections
Savings earn interest (Small) and checking usually does not

31. Car Insurance

32. Car Insurance
Comprehensive and Liability is required (Property or personal damage based on accident)
Collision is also required if you are making car payments (Collision covers Car repairs from accidents)

33. Questions??? Exam is in class Friday (Must be present)
All Binders due by end of day Friday (75% or more complete)
Review is online