Understanding loan principles
• Credit – optional use of someone else’s money with your promise to repay at a later date.
• Alone with credit comes interest – that’s how the bank makes its money.
The cost of the loan is determined by
• The amount of the loan.
• The length of the loan.
• The interest rate.
General term loans
• APR – annual percentage rate.
• TILA – truth in lending act.
• Collateral – something of value that can be taken if the loan is not rapid.
• Co signer – an adult who will assume legal responsibility for the loan if you fail to repay.
Showing posts with label future. Show all posts
Showing posts with label future. Show all posts
4.29.2010
about taxes
Tax money is used to pay for…
• Roads.
• Schools.
• Disability.
• Bailouts.
Tax terms
• Withholding – money an employer deducts from a pay check to pay taxes,
• Exempt – do not have to pay taxes.
• Gross pay – earnings before taxes or any other deductions taken out.
• Net pay – take home pay-money left over after taxes are taken out.
• W4 – the form filled out when you are first hired claiming your exemptions.
• W2 – form that employers are required to give each employee by January 31st each year which tells you how much money was taking out of income for taxes, etc.
• 1040 Tax Return Form – Form filled out yearly to report taxes and may result in a refund or payment to IRS.
• Dependent – person who relies on another for at least ½ of his or her support.
- Support includes…
o Food.
o Shelter.
o Clothing.
o Dental care.
o Education.
• You can be a dependent if you…
- Are under 19 years old.
- Make less than a certain amount each year.
- Full time college (taking 12 credit hours) student between the ages of 19 & 24.
• Roads.
• Schools.
• Disability.
• Bailouts.
Tax terms
• Withholding – money an employer deducts from a pay check to pay taxes,
• Exempt – do not have to pay taxes.
• Gross pay – earnings before taxes or any other deductions taken out.
• Net pay – take home pay-money left over after taxes are taken out.
• W4 – the form filled out when you are first hired claiming your exemptions.
• W2 – form that employers are required to give each employee by January 31st each year which tells you how much money was taking out of income for taxes, etc.
• 1040 Tax Return Form – Form filled out yearly to report taxes and may result in a refund or payment to IRS.
• Dependent – person who relies on another for at least ½ of his or her support.
- Support includes…
o Food.
o Shelter.
o Clothing.
o Dental care.
o Education.
• You can be a dependent if you…
- Are under 19 years old.
- Make less than a certain amount each year.
- Full time college (taking 12 credit hours) student between the ages of 19 & 24.
when writing a college essay
Writing your college essay
• Essays allow the admissions office to see you as you really are beyond the stats of your application.
- Purpose of Essay:
1. College cans evaluate communication skills.
2. Allows Admissions office to learn more about you beyond SAT’s and grades.
- Choosing a Topic:
1. Narrow your topic – be specific.
2. Write about yourself. Don’t be shy, but don’t exaggerate.
3. Don’t be afraid to write about a unique topic.
4. Develop a framework & outline.
Dos and Don’ts of writing an essay
- Do’s:
1. Do think “small” and write something you know about.
2. Do reveal yourself in writing.
3. Do show rather than tell.
4. Do write in your own voice and style.
- Don’ts:
1. Don’t write what you think others want to read.
2. Don’t exaggerate or write to impress.
3. Don’t ignore grammar, spelling, or sentence structure. Have 2 English teachers proofread.
4. Don’t ramble. Be concise.
What do colleges look for?
• Level 1 – Grammar, spelling, punctuation.
• Level 2 – Content, substance, depth of insight.
• Level 3 – Creativity & originality.
• Essays allow the admissions office to see you as you really are beyond the stats of your application.
- Purpose of Essay:
1. College cans evaluate communication skills.
2. Allows Admissions office to learn more about you beyond SAT’s and grades.
- Choosing a Topic:
1. Narrow your topic – be specific.
2. Write about yourself. Don’t be shy, but don’t exaggerate.
3. Don’t be afraid to write about a unique topic.
4. Develop a framework & outline.
Dos and Don’ts of writing an essay
- Do’s:
1. Do think “small” and write something you know about.
2. Do reveal yourself in writing.
3. Do show rather than tell.
4. Do write in your own voice and style.
- Don’ts:
1. Don’t write what you think others want to read.
2. Don’t exaggerate or write to impress.
3. Don’t ignore grammar, spelling, or sentence structure. Have 2 English teachers proofread.
4. Don’t ramble. Be concise.
What do colleges look for?
• Level 1 – Grammar, spelling, punctuation.
• Level 2 – Content, substance, depth of insight.
• Level 3 – Creativity & originality.
crediting
Credit terms
APR (Annual Percentage Rate) – The interest rate for one year
Credit limit – the maximum amount of credit extended to you by a bank or credit card issuer.
Late fee - a penalty, in addition to interest that is charged if payment is received after the due date.
Minimum payment – the lowest amount you must pay toward your credit card balance each month.
Interest – the price of using credit.
Annual fee – the yearly charge for having a credit card.
Grace period – a period of time during which you are not charged interest on new purchases.
Interest rate – the amount of interest you must pay for the credit you use – usually expressed in a percentage.
Advantages of using credit cards:
• Establish credit history.
• Safer than cash.
• Use for internet purchases.
• Use for reservations.
• Use as an interest free loan if paid before the grace period ends
Disadvantages of using credit cards:
• Get into much dept quickly – takes a long time to pay back.
• Interest rates are extremely high.
You can get a credit card when you are 18 years old. If younger, you can still have one as long as you have a co-signer.
The grace period is important to be aware of because you can make purchases interest free during that time. That’s like getting something you want know and not paying interest as long as you pay off the balance before the grace period is over. Most grace periods are 28 days.
Some people have to pay higher interest on loans than others because they have bad credit history and are a risk to the lender.
The Fair Credit Reporting Act governs all creditors must furnish accurate and complete information regarding a person’s credit history.
Creditors have to disclose (“tell all”) all terms of credit agreement because of the Truth in Lending Act.
Pay day loans (Ex: Check into cash) is a bad option for credit because they charge very high interest (500% in some cases) and usually hold your car titles as collateral. Lots of people choose these types of loans because there isn’t a background credit history check.
Behaviors that can affect your credit rating where banks may consider you a risk prohibiting you from getting credit:
• Moving around and switching jobs.
• Having lots of credit cards.
• Pay your bills late (even just 1 or 2 payments)
APR (Annual Percentage Rate) – The interest rate for one year
Credit limit – the maximum amount of credit extended to you by a bank or credit card issuer.
Late fee - a penalty, in addition to interest that is charged if payment is received after the due date.
Minimum payment – the lowest amount you must pay toward your credit card balance each month.
Interest – the price of using credit.
Annual fee – the yearly charge for having a credit card.
Grace period – a period of time during which you are not charged interest on new purchases.
Interest rate – the amount of interest you must pay for the credit you use – usually expressed in a percentage.
Advantages of using credit cards:
• Establish credit history.
• Safer than cash.
• Use for internet purchases.
• Use for reservations.
• Use as an interest free loan if paid before the grace period ends
Disadvantages of using credit cards:
• Get into much dept quickly – takes a long time to pay back.
• Interest rates are extremely high.
You can get a credit card when you are 18 years old. If younger, you can still have one as long as you have a co-signer.
The grace period is important to be aware of because you can make purchases interest free during that time. That’s like getting something you want know and not paying interest as long as you pay off the balance before the grace period is over. Most grace periods are 28 days.
Some people have to pay higher interest on loans than others because they have bad credit history and are a risk to the lender.
The Fair Credit Reporting Act governs all creditors must furnish accurate and complete information regarding a person’s credit history.
Creditors have to disclose (“tell all”) all terms of credit agreement because of the Truth in Lending Act.
Pay day loans (Ex: Check into cash) is a bad option for credit because they charge very high interest (500% in some cases) and usually hold your car titles as collateral. Lots of people choose these types of loans because there isn’t a background credit history check.
Behaviors that can affect your credit rating where banks may consider you a risk prohibiting you from getting credit:
• Moving around and switching jobs.
• Having lots of credit cards.
• Pay your bills late (even just 1 or 2 payments)
business careers
• Business Intelligence Analysts
o Produce financial and market intelligence by querying date & repositories and generating periodic reports.
o Provide technical support for existing reports, dashboards, or other tools.
o Identify or monitor current and potential customers using business intelligence tools.
o Communicate with customers, competitors, suppliers, professional organizations, or others to stay abreast of industry or business trends.
o High school education
o $50,000 and up
o National - $76,000
o State - $92,020.57
• Information technology project managers
o Plan, initiate, and manage information technology (IT) projects. Lead and guide the work of technical staff.
o Perform risk assessments to develop response strategies.
o Confer with project personnel to identify and resolve problems.
o Establish and execute a project communication plan.
o High school education
o $50,000 and up.
o National - $76,000
o State - $92,020.57
• Web developers
o Develop and design web applications and website. Create and specify architectural and technical parameters.
o Design, build, or maintain websites, using authoring or scripting language, content creation tools, management tools, and digital media.
o Perform or direct web site updates.
o Write, design, or edit web page content, or direct others producing content.
o Bachelor’s degree.
o $50,000 and up.
o National - $76,000
o State - $92,020.57
• Graphic designers
o Design or create graphics to meet specific commercial or promotional needs such as packaging, displays, or logos.
o Create designs, concepts, and sample layouts based on knowledge of layout principles and esthetic design concepts.
o Use computer software to generate new images.
o Review final layouts and suggest improvements as needed.
o Bachelor’s degree.
o $36,000 through $49,999
o National - $46,750
o State - $50,106.87
• Web administrators
o Manage web environment design, deployment, development and maintenance activities.
o Back up or modify applications and related date to provide for disaster recovery.
o Determine sources of web page or server problems and take action to correct such problems.
o Monitor systems for intrusions or denial of service attacks, and report security breaches to appropriate personnel.
o Bachelor’s degree.
o $50,000 and up.
o National - $76,000
o State - $92,020.57
o Produce financial and market intelligence by querying date & repositories and generating periodic reports.
o Provide technical support for existing reports, dashboards, or other tools.
o Identify or monitor current and potential customers using business intelligence tools.
o Communicate with customers, competitors, suppliers, professional organizations, or others to stay abreast of industry or business trends.
o High school education
o $50,000 and up
o National - $76,000
o State - $92,020.57
• Information technology project managers
o Plan, initiate, and manage information technology (IT) projects. Lead and guide the work of technical staff.
o Perform risk assessments to develop response strategies.
o Confer with project personnel to identify and resolve problems.
o Establish and execute a project communication plan.
o High school education
o $50,000 and up.
o National - $76,000
o State - $92,020.57
• Web developers
o Develop and design web applications and website. Create and specify architectural and technical parameters.
o Design, build, or maintain websites, using authoring or scripting language, content creation tools, management tools, and digital media.
o Perform or direct web site updates.
o Write, design, or edit web page content, or direct others producing content.
o Bachelor’s degree.
o $50,000 and up.
o National - $76,000
o State - $92,020.57
• Graphic designers
o Design or create graphics to meet specific commercial or promotional needs such as packaging, displays, or logos.
o Create designs, concepts, and sample layouts based on knowledge of layout principles and esthetic design concepts.
o Use computer software to generate new images.
o Review final layouts and suggest improvements as needed.
o Bachelor’s degree.
o $36,000 through $49,999
o National - $46,750
o State - $50,106.87
• Web administrators
o Manage web environment design, deployment, development and maintenance activities.
o Back up or modify applications and related date to provide for disaster recovery.
o Determine sources of web page or server problems and take action to correct such problems.
o Monitor systems for intrusions or denial of service attacks, and report security breaches to appropriate personnel.
o Bachelor’s degree.
o $50,000 and up.
o National - $76,000
o State - $92,020.57
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