A Financial Education Event
     

Revive and Thrive Virtual Women’s Conference

In my podcast, The Money Millhouse, we are addressing financial issues for women who make and manage money–especially during a pandemic. We believe in supporting each other.

In these unprecedented times, women need more support and encouragement than ever. We need words of hope and truth to spur us on in our “new normal” and help us live lives of greater joy and purpose despite our circumstances. Revive and Thrive is a virtual conference we’ve created to do just that! I will be presenting “Living Rich for Less.” 

We’ve gathered a group of amazing teachers, speakers, and authors to pour into women’s lives in on a variety of subjects that will educate, equip, inspire, and challenge. Best of all, it can be
enjoyed at your leisure in the privacy and safety of your own home.  As added bonuses, each speaker has offered a free downloadable gift and will personally host one live video chat in the weeks after the conference airs so you can connect with her, ask questions, and interact with other women. My zoom chat will be on June 2 at 4:00 PM PST.

I know that at times I feel I’m doing fine in the midst of sheltering in place despite the fact I’ve cancelled 11 trips (many for business.) I’m trusting that as I continue to do the right things for the right reasons, I can trust God for the results. Watching some of my fellow speakers talk about these very feelings I’m experiencing has been revitalizing for me. One of my biggest takeaways was from Dr. Michelle Bengtson’s talk on “Breaking Anxiety’s Grip” where I learned to say “I get to” instead of “I have to.” That tiny little change was so very hard but it completely changed the way I’m viewing this season of life.

I look forward to seeing how you will revive and thrive as a result of this virtual conference!

The Science of Laughter

Next week, I have the privilege of keynoting at the AFCPE symposium and I’ll present The Science of Laughter. This is a topic near to my heart because it’s the way I’ve lived my life.

When I married my husband, I got a three for one deal: I married the World’s Greatest Fighter Pilot and I also inherited two young stepdaughters. Then my groom said, “let’s join the active duty Air Force and we can see the world.” But what he really showed me was five more children in seven years for a total of seven children. Then we took the show on the road and moved eleven times in thirteen years. I learned, very quickly, that I needed to learn to look at life in a funny way or end up on the funny farm.

I chose laughter.

I chose joy.

And my life has been better for it.

It has been said that “Laughter is Good Medicine,” but why is that actually true? There are a number of ways that laughter benefits the health and wealth of the communities we serve. These benefits exist on a number of levels.

 

The Physical Benefits of Laughter – Research from a variety of sources, including UCLA’s famous RxLaughter program explains what happens to someone physically when they laugh.  It has a measurable benefit for an individual’s blood pressure and stress levels, it decreases heart disease, and improves overall physical health. In fact, Lee Berk, an associate professor at Loma Linda University, asserts that “Laughter appears to cause all the reciprocal, or opposite effects of stress.”  The amazing result is that when we laugh more, we stress less.

 

The Social Benefits of Laughter Robert R. Provide, a behavioral neuroscientist from the University of Maryland indicates that laughter is a social behavior. His studies testify that humor is contagious & can spread to an audience, it’s actually a form of communication. Sara Algoe, an associate professor of social psychology at the University of North Carolina at Chapel Hill has said, “We think laughter can draw us closer together to other people and grease the wheels for better social interaction”

There is also a specific science behind jokes, anecdotes and one-liners. When you build these into your work and presentations, everyone receives a quick, mental vacation.

 

The Financial Benefits of Laughter – You may have heard the classic premise of “laughing all the way to the bank,” but it is actually true in some ways.  The quantitative data & my own personal experience proves how incorporating laughter into speaking events, financial education & contract negotiations improve an entrepreneur’s bottom line. Humor also helps teams maximize efficiency, effectiveness and it facilitates employee retention.

I was once working a contract to gain funding for Heroes at Home, my non-profit dedicated to providing free financial education to young military members. I was making very little headway with lead decision maker and it looked like we were going to end in a “no deal” situation. We decided to table the discussion until the end of our lunch together. I took the time to share humorous anecdotes about my biggest gaffes in my work with these service members and also shared some lighthearted stories that made the table begin to laugh. And I shared more and they laughed more. You’ve probably guessed the end of this story—we got our funding and more. I didn’t share the stories to get the contract, I shared them to lighten the environment. In the end, everyone was happier, and my military audiences were the ones who gained the most.

Take Away/Application to the Field

There is a very specific take away to the Science of Laughter and the way it applies to the entrepreneurs, the field of financial education and AFC® practitioners. I’ve seen these results in some of the 2000 financial education presentations that I’ve made to hundreds of thousands of participants and I’ve been gratified by the results. Using laughter helps in many unexpected ways such as information retention, better health and as a way to grow your business.

 

Information Retention – Humor helps the AFC®’s clients learn more in financial education sessions, whether it’s one-on-one or in front of 5,000 people. By including very specific humorous examples & conducting exercises that are effective but are also workplace appropriate, we can help our clients and audiences retain more information. One of my guiding principles is: when in doubt about a joke, always err on the side of propriety. I’m not willing to lose an audience member in the name of humor if it could alienate them in the process. But sharing a lighthearted quote or story can give the mind a break and then allow my audience to reengage in order to learn more.

 

Greater Health – Incorporating humor into your work life not only helps others, it helps the entrepreneur as well. If you are presenting at a workshop, a keynote or even in your own Toastmasters group, your audiences can experience this real time with some simple, short exercises that they can do during the session you present. One such exercise is to have them imagine what they would look like if they were shocked with an electrical shock, then turn to the person next to them, and without a word–imitate that look. It’s almost impossible NOT to laugh.

Another example of seeing this in action was when I was at FinCon19 and one of the keynote speakers quoted Mayo Angelou’s famous quote, “’I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”

Bethany Bayless, the wildly funny FinCon emcee, applauded the speaker and then said to the audience, “Now turn to the person sitting next to you, put your hand on their arm and say, ‘I will always remember how you feel.’” It took a moment for them to understand the humorous twist. But it was such an in-the-moment and funny turn on the quote that the audience kept laughing, in waves, for a full 3 minutes.” They needed the mental break from the heavy content they just heard from the keynote and this humorous exercise was just what the doctor ordered.

Grow Your Practice and your Business – Incorporating humor improves audience feedback and can lead to more opportunities for the practitioner. It’s one of the reasons we use liberal doses of humor in our podcast, The Money Millhouse. Whether it is word of mouth amongst individual clients, a greater social following or a demand for these skills in front of larger audiences, anyone can grow a practice or a business by adding the tool of laughter to their toolkit.

Financial Literacy Month- Teaching Kids To Score Great Jobs

April is financial literacy month and it’s also a time when students may be looking for part-time jobs to add extra income on top of schoolwork, or line up a job or internship for the summer. If your teenaged or college-aged child is going for an interview, it is always great to review the basics before you walk into your (hopefully) potential employers office.

There’s an old saying we need to teach our kids: You never get a second chance to make a first impression. It’s important to dress to fit the job. If you child is applying for a summer job as a bank teller, they need to wear nice business clothes. If they’re applying at Peter Piper’s Pizza, they don’t need to wear a suit. They will need to bring a resume that lists their past jobs or experience. They should include addresses, phone numbers and the supervisor’s names. They should also have a couple of references with all the information listed. Here are a few quick tips for your child to keep in mind when they interview.

¨     Be Prepared – Your teen needs to be able to answer all questions about themselves and their interests. The answers should be short and concise. Feel free to give them a mock interview to help them prepare. 

¨     Homework – If possible, research the business to learn as much about the prospective employer as possible. Then work in some of what you’ve learned into the interview you have with the interviewer. 

¨     Timely – Be on time. If the car ran over your cat and you have to run to the vet, which makes you late, then call the interviewer who is waiting for you. Leave early enough to compensate for these possible delays. If you live in California, like we do and have to travel the 405, then allow TWICE the commute time! 

¨     Listen – Teach your child to never interrupt and have them practice with you! Listen to the interviewer’s name and repeat it if possible. Now is not the time to tell jokes or give additional information other than the questions that are being asked. Making eye contact while you listen is important, and it shows they’re listening.

¨     Money – Your child needs to know that the employer might bring up the topic of salary or the hourly wage. Any interviewer with at least two interviews to their credit knows that money is an important topic and they will get to it eventually. Be realistic about the salary by going to salary.com to find out the going wage for the job. 

¨     Watch Your Ps and Qs – Kids need to know that little things matter—especially in a job interview. They should never use slang or make uncomplimentary comments about other people. The handshake should be initiated by the interviewer, and they should never accept refreshments unless the interviewer is taking refreshment as well. Tell them to sit up straight in the chair and never check their phone during an interview. Impression is everything.

¨     Ask Questions – Teach your child to listen so carefully that they can ask intelligent questions. Practice some questions they may want to ask, but tell them not to overdo this. A couple of insightful questions helps to clarify the job while giving a generally favorable impression.

¨     Fond Farewells – When they leave the interview, they need to graciously thank the interviewer for their time. Your child could lose the job in the last few minutes of the interview if they let their guard down for a minute. Make eye contact as you say goodbye and keep a positive attitude—even if the job offer is not made on the spot. Tell them you’d really like the job. 

¨     Follow-up – The job offer is usually made within one to two weeks after the interview if there are several people being considered for the job. Teach your child to wait for this length of time before they call to check on the progress of the hiring process. In the meantime, they can send a thank you note to the interviewer, which is a gracious gesture that doesn’t appear overly anxious.

¨     Persevere – Practice makes perfect and the more job interviews your child has, the better they will become as they gain experience.  Don’t let a “no” to a certain job opportunity discourage your child, but teach them that God could have an even better job waiting right around the corner. But they’ll never find it unless they persevere. If your child is waiting to find the right job, encourage him to create a profile on Linked In to start building his resume. It also lists unique job and internship opportunities in your area. Another great website to search for jobs in your area (and to post your resume) is Indeed.  

Ellie Kay

America’s Family Financial Expert (R)

The $425,000 Interview – 15 Minutes To A Million Dollar Life

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I looked at the young man in a new suit, tie that his dad probably knotted and a fresh haircut. He was sweating at the temples and clearly nervous as he faced down eight interviewers gathered in the Congressman’s office.

“If you could be Disney Princess, what would it be?”

The red blush began in his neck and traveled up his entire face as you watched the wheels turn frantically in his brain.

“If I could be any kind of Disney princess…it would have to be…Mulan.”

His embarrassment began to fade as his face lit up with an idea.

“Because Mulan was a warrior and she will willing to lay down her life for those she loved and wanted to protect.”

He smiled, his nervousness now gone, “In much the same way, I want to go to the United States Air Force Academy and serve my country.  America has been a land that gave my family an opportunity for education and to build a great life for our family. I want to give back to the country who gave so much to my family.”

As a member of an All Academies Congressional Admissions Panel, I’m a part of a team of qualified community leaders who interview students who have applied to a service academy. I’ve also written a three part blog for those who are interested in going to these prestigious institutions of higher learning. In fact, this time of year is when most of these nomination packages are due at Congressional offices.

This particular student learned, in his interview prep, that he could buy time in an interview by beginning his answer in a compete sentence. This technique gave his brain a chance to come up with an answer. We interviewed 50 students for last year’s panel, in one day, from 7:00 AM to 9:00 PM. Then we racked and stacked them based on their nomination packages and the interview.

The appointments to the Naval Academy, Merchant Marine Academy, West Point and the Air Force Academy are valued at approximately 425K. These go to the best and brightest young people in our nation who will be future officers and lead our military. They will pay back the cost of their education in five years of military service. So their education isn’t exactly “free” since most college grads don’t have to put their life on the line to pay back their education costs.

That “Disney Princess” question was a real question put to students from a different Congressional panel. It was designed to see how they could think creatively and react to an odd-ball question. The young man in this story is real and so is his answer. He is now at the Air Force Academy living his dream to one day fly and fight for his country. When he graduates and goes to pilot training, he will have close to a million dollars invested in his many years of training. So that interview question was one that led to his million dollar life!

Are you or someone you know preparing for a big interview in the near future? The key is preparation by rehearsing common and uncommon questions and gaining confidence in your ability to maintain eye contact, think on your feet, and communicate the real you to those who are conducting the interview. For those preparing for a service academy interview, feel free to email us and ask for the “Mock Interview Questions.”

 In the Kay household, our kids were naturally prepared for grilling questions thanks to the habit of asking them about their day every evening at dinner.

“What was a problem you solved today?”

“How did you make someone laugh today?

“What was the best part of your day?”

They were obviously more forthcoming some days than others, but the habit made it more natural for them to talk about their experiences. This easily translates to job interviews and even college or congressional interviews, where interview panels ask both conventional and unconventional questions.

You have probably already heard about the most common questions, such as ones pertaining to your history, why you’re interested and your strengths and weaknesses. But every now and then, you’ll get a common question disguised as an uncommon one. Here are five of them:

1. “What was your best MacGyver moment?”

When an interviewer asks a question similar to this, they’re really looking for examples of your adaptability and resourcefulness. Have you ever had any unconventional homework assignments or projects where you didn’t have common resources? This is a good time to talk about them.

2. “How many employees does it take to screw in a light bulb?”

This is a unique way to see where you stand on being a team player and if you have problem-solving skills. Most careers have a fair amount of group projects, so interviewers want to see if you’re a lone wolf (“Just one. Me.”) or if you can work with others (“As many as it takes to do it efficiently.”)

3. “What is our receptionist’s name?”

This could also be a question about something or someone else in the building. The interviewer is looking to see if you’re observant, paying attention and have a good memory. Just be aware of your surroundings and you’ll be prepared for this question.

4. “If you were in the NBA, what position would you play?”

Believe it or not, you don’t have to follow sports to answer this question correctly. The interviewer simply wants to know if you’re a leader or team player and ready to contribute immediately. Focus on answers that show off your willingness to do anything for the team/company.

5. “If you could have dinner with anyone in history, who would it be?”

This is a good opportunity to talk about a variety of things, from your hobbies to who you value. It can be a current or past figure, but should be someone you truly admire. This is a great way for you to relate to the interviewer and ease any tension or awkwardness.

Again, these specific questions are rare, but if you’re prepared to talk about things like your resourcefulness, leadership abilities and interests, you’ll be ready to answer them. A good starting point would be to look at lists of the most common questions and rephrasing them in a unique way. It can be fun and a great way to prepare for your first job interview.

What are some of YOUR favorite interview questions?

 

The Millennial Boomerang

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“My kids will never come back to live with us after they are launched.”

“I don’t have worry about boomerang children, mine have great jobs.”

“Junior would never get into trouble and need me to bail him out, he’s a good boy.”

Have you ever made a declarative statement that you had to take back and eat, along with a big, fat slice of humble pie?  I have. In fact, I’ve eaten so many humble pies that I’ve put on five pounds just thinking about it! That’s why I’m approaching today’s blog very circumspectly.

“Failure to Launch” was not only a popular Matthew McConaughey movie (would someone puleeze give that man a shirt!). It’s also a syndrome in America among Boomer and Gen X parents and their Millennial babies. There are many reasons for this boomerang barrage. One primary factor has to do with the unemployment rate among 20 to 24 year olds, which was 15.4% last year according to the Bureau of Labor Statistics.

Furthermore, statistics from the Pew Research Center indicated that 13% of American parents with an adult child had a child move back into the family home. While 40% of recent college graduates still live at home.

Money matters are the number one reason why these kiddies come back home to mommy and daddy as well as the struggling economy, student loan debt, consumer debt and in some cases legal troubles. Another primary reason is that some parents just enjoy having their kids at home and don’t really see the need for them to move on and move out.

There is good news and bad news for families in this situation. A boomerang incidence is detrimental when the children have an entitlement mentality, don’t carry their own weight in the home, are not looking for work, and cause their parents to delay retirement to get them financially settled. No one wins in that situation.

The good news of the situation exists when this living arrangement is only temporary and involves a solid exit plan. In fact, it can be a great bonding time between generations, especially if there are grandchildren involved.

But one thing is certain:  boomerang babies introduce more stress into the household. If the old adage is true that “company and fish are alike, after three days they both begin to stink” then having adult children home for an months on end has the ability to raise your blood
pressure significantly.

But what to do? What to do?

Here is the Ellie Kay motto for a situation like this, just tell your adult children:  “My love for you is unconditional, by my money is not.”  Your “money” in this case includes your home, furnishings, food, car, cash, retirement fund, home equity, phones, insurance, and anything else in your monthly budget that is impacted by new peeps living with you!

Here are some guidelines to follow if you find yourself in this situation:

  • DTR – “Define The Relationship” by discussing the living arrangement and defining the expectations on both sides. Come to an agreement as to what is expected of one another and delineate the boundaries.
  • Develop An Exit Strategy First – A solid exit strategy will have them back on their own between 3 and 6 months. If they know when they will be expected say “sayonara”, then that gives them a deadline to work toward in becoming financially independent again. It also helps to eliminate resentment when the time doth draw nigh.
  • Do What – Do What? – This is your new song, in that you are going to ask that son or daughter to do their portion for the household, whether it is doing chores and paying rent, or contributing by buying groceries and paying the light bill. The more uncomfortable it becomes in the parent’s nest, the more motivation that birdie has to re-launch.
  • Define the Rules – Part of the exit strategy will include the establishment of a budget for the adult child. I like the mint app because multiple people can track the spending at the same time. If they are living in your home, then you have the right to oversee a budget that will help them live on their own again. The idea of this may seem to restrict their freedom but it’s all part of the diabolical plan to kick them back out of the nest again.
  • Do have them pay Rent – Once they are employed, then begin to increase the rent over the course of the next months until they are paying the same rent to you that they would be paying for a place of their own. If you want an idea of what rent is in your neighborhood, go to Rentometer to find out a fair rate. YES, it’s probably more than what your lovely room and board is worth—BUT THAT IS THE POINT! You want them to see how it’s not worth it to live with mumsey; it’s a better value elsewhere.
  • Do Unto Others –– If you want to be kind (and sneaky in a good way), then you can take half the rent they give you and put it in an account that you can then relinquish to them. This will help them pay the first and last month’s rent on a place of their own. But you don’t “owe” them this act of kindness, your money, after all, is conditional while your love is unconditional and don’t fall into the trap by defining your love with how much you pay their way.
  • Do Give Them Wisdom – In some cases, the best assistance you can give them (besides the establishment of a budget) is to get them to a financial counselor such as nfcc.org that will help them for free. The National Foundation for Credit Counseling can renegotiate loans, restructure debt and provide accountability outside of your direct influence. There’s nothing like a third party to be the bad guy when it comes to letting them know the real deal in the real world.
  • Don’t Bail them Out! – Just remember the idea of precedence: what you do once, you will have to do again for the same child or for another one of your children. Keep in mind your needs such as retirement, paying your bills, your credit scores and your financial future. We owe our children food, shelter and clothing for 18 years. We owe them unconditional love for a lifetime. But we don’t owe them a bailout when they overextend themselves or fail to plan responsibly.  

 

Summer Jobs For Kids

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Nifty Ways for Kids to Earn Money This Summer

The first job my sons Daniel and Philip ever had was a paper route. It gave them something to do during the summer, helped them start managing their finances and was even a little fun (at first). While we said they could only do it if they committed to it for a year, they occasionally passed duties on to their younger brothers, Jonathan (age 7 at the time) and Joshua (age 6).

While mama (age undisclosed) did the driving, the little boys did the delivering. On Joshua’s very first house, he grabbed the paper in his tight fist, barreled up the sidewalk, got his arm into an admirable wind-up and pitched the paper on top of the house! Rooftop-bound periodicals aside, allowing your kids to earn money can be a fun and prosperous adventure, as long as you’re willing to supervise them. Simply set boundaries that are appropriate and let them go to work.

Here are some great ideas to help your kids raise their own cash this summer while enjoying the benefits of earning, saving and sharing:

  • Rent-A-Kid – If you, a church or neighbor (someone you know) needs any odd jobs done, this is a great idea. When advertising the service, it’s important to plan early and be specific, polite and careful. You can even help your child make a small business card on the computer!
  • Washing cars and/or windows – This can be advertised similar to the Rent-A-Kid idea and only requires suds, soap and elbow grease. Focus on safe neighborhoods and quality work. Always accompany your child until you know the employer better.
  • Babysitting – A popular choice for young guys and girls, safety is key for this job. Encourage your child to take a babysitting/CPR course and babysitting people you know. Also, if they keep the house tidy and the kids happy, it can lead to repeat business.
  • Caring for pets – Since summer is a popular time for vacations, people are usually looking for affordable ways to care for their pets. For kids who like animals, this is perfect. Recommend they pass out flyers and visit the animal before they take the job.
  • Mowing lawns – For older kids, this is a go-to summer job and an excellent source of income. It can be dangerous, so it’s important to exercise caution and safety. Make sure they have the proper supply and safety gear and encourage a job well done (the best form of advertising).
  • Making and selling candy or drinks – Everyone loves candy, cool drinks and cookies/cakes, so this is a great option for the future chef. With permission, you can sell at sporting events, church bazaars, carnivals, festivals or farmer’s markets.

Before your kids take on a job this summer, be sure to think about safety, age-appropriate work, training, quality and following through. And after they’re finished, praise them for a job well done! Be sure they are working for family members or trusted friends and feel free to supervise their work by tagging along as long as they are young enough to need you!

What kind of summer job did you do as a kid?

Ellie Kay

America’s Family Financial Expert (R)

Red, White, and Scammed: Part 1

 

We have a long tradition of military service in our family. My grandfather was a bombardier who died in WWII, my father is a retired chief master sergeant in the Air Force, my husband, Bob, flew Air Force fighters for 25 years, our son, Philip, graduated from the Naval Academy and cross commissioned into the Marine Corp, our next son is a junior at the Air Force Academy, and the youngest son a plebe at Westpoint. In fact, the photo you see is Bob, pinning on the Philip’s Airborne wings–the very wings Bob earned 30 years ago when he was a cadet at the Air Force Academy!

Enlisted men and women are easy marks for sleazy car dealers, insurance scammers predatory lenders, and identity thieves. So pervasive are the rip-offs and so troubling is the debt incurred by military personnel that US Department of Defense officials recently labeled the situation a threat to national security. Here are a few things to keep in mind and to share with your military friends and family.

Q. The DOD has labeled the fraud situation among the military as a threat to national security. How does getting scammed impact lives overseas?

ELLIE: It’s all about distraction. When military members are distracted, whether it’s worry over identity theft or trying to wondering if their spouse is able to deal with messy finances at home—then that’s when accidents happen. Distraction leads to worry which leads to accidents. And when accidents happen, then there is loss of life. So if we want to help save lives overseas, then we can all do our part to protect our military members by exposing rip offs and scams whenever possible.

Q. What kind of paycheck does a typical recruit make & what are some of the questionable ways that local businesses try to get a piece of that paycheck?

ELLIE: They earn about $1800 per month & these paychecks can be carved to bits by bad deals. For example, a computer store outside of Great Lakes Naval Training Center in Illinois employs attractive women to troll for new sailors. Once they get them inside the store, they are pressured into buying a very basic laptop for more than $4000, which is three times as much as the computer is worth. Then they finance the deal and the computer ends up costing even more with the store also making money on financing.

Q. What are some other common ways that the military is ripped off and people should be aware of?

ELLIE: There was recently a multi-state investigation launched into life insurance scams that were being perpetrated against military members just before they took off to the Middle East. These scamsters sold soldiers extremely overpriced or misrepresented policies, taking advantage of the emotional situation of leaving families to go into harm’s way. This investigation ended with the companies offering more than $70 million dollars in refunds to thousands of service members. When it comes to life insurance, military members are offered SGLI or Servicemembers Group Life Insurance, which is a legitimate source for low premiums, so there’s really no need to secure other private insurance!

Q. Tell us about the “Red Cross” scam that is getting a lot of attention among military families?

ELLIE: This is fairly despicable, as it prays on the emotions of family members. A con artist claiming to be with the Red Cross will call a parent of a servicemember or their spouse, telling them their loved one has been injured and they need their social security number to authorize help for them. In some cases, they ask for an initial cash payment. Military members need to clear any report of injury through the chain of command or by contacting the base family community services.

Q. It seems that our military is very young, what is the average age of a service member and do they receive any kind of personal finance education as part of their training?

ELLIE: Yes, they are young, in fact, the average age range of military members is between 22 and 28 years old. Of the groups I routinely speak to around the world, I’d say that the average 22 year old has an even younger wife and a baby as well—so it’s a lot of responsibility for someone so young. The good news is that since 2004, service members learn about personal finance as part of their early training. When I go to give my “Heroes at Home” message I teach about finances and also encourage them to use the resources they have available to them on base. Army Community Services, Airman and Family Readiness Centers, Fleet and Family Support Centers—all of these have personal finance counselors there who are ready and willing to give free financial counseling to service members and their families. It’s what I call my $300 tip, because a couple hours with the caliber of financial professional at any of these centers is equivalent to paying $300 to a CFP or CPA.

Ellie Kay
America’s Family Financial Expert (R)
http://www.elliekay.com/

Job Interviews for Millennials

Back in May, I wrote a blog called (Un)Common Interview Questions, which talked about those questions that potential employers ask to find unique answers from their interviewee. Now is the time to get back to job interview basics. This time of year, children are going back to school and many are looking for part-time jobs to add extra income on top of schoolwork. If your teenaged or college-aged child is going for an interview, it is always great to review the basics before you walk into your (hopefully) potential employers office.

There’s an old saying we need to teach our kids: You never get a second chance to make a first impression. It’s important to dress to fit the job. If you child is applying for a summer job as a bank teller, they need to wear nice business clothes. If they’re applying at Peter Piper’s Pizza, they don’t need to wear a suit. They will need to bring a resume that lists their past jobs or experience. They should include addresses, phone numbers and the supervisor’s names. They should also have a couple of references with all the information listed. Here are a few quick tips for your child to keep in mind when they interview.

¨     Be Prepared – Your teen needs to be able to answer all questions about themselves and their interests. The answers should be short and concise.

¨     Homework – If possible, research the business to learn as much about the prospective employer as possible.

¨     Timely – Be on time. If the car ran over your cat and you have to run to the vet, which makes you late, then call the interviewer who is waiting for you. Leave early enough to compensate for these possible delays.

¨     Listen – Teach your child to never interrupt and have them practice with you! Listen to the interviewer’s name and repeat it if possible. Now is not the time to tell jokes or give additional information other than the questions that are being asked. Making eye contact while you listen is important, and it shows they’re listening.

¨     Money – Your child needs to know that the employer should bring up the topic of salary or the hourly wage. Any interviewer with at least two interviews to their credit knows that money is an important topic and they will get to it eventually.

¨     Watch Your Ps and Qs – Kids need to know that little things matter—especially in a job interview. They should never use slang or make uncomplimentary comments about other people. The handshake should be initiated by the interviewer, and they should never accept refreshments unless the interviewer is taking refreshment as well. Tell them to sit up straight in the chair and never comb their hair, file their nails, play with their nose rings or study their tattoos during an interview. Impression is everything.

¨     Ask Questions – Teach your child to listen so carefully that they can ask intelligent questions. Practice some questions they may want to ask, but tell them not to overdo this. A couple of insightful questions helps to clarify the job while giving a generally favorable impression.

¨     Fond Farewells – When they leave the interview, they need to graciously thank the interviewer for their time. Your child could lose the job in the last few minutes of the interview if they let their guard down for a minute. Make eye contact as you say goodbye and keep a positive attitude—even if the job offer is not made on the spot.

¨     Follow-up – The job offer is usually made within one to two weeks after the interview if there are several people being considered for the job. Teach your child to wait for this length of time before they call to check on the progress of the hiring process. In the meantime, they can send a thank you note to the interviewer, which is a gracious gesture that doesn’t appear overly anxious.

¨     Persevere – Practice makes perfect and the more job interviews your child has, the better they will become as they gain experience.  Don’t let a “no” to a certain job opportunity discourage your child, but teach them that God could have an even better job waiting right around the corner. But they’ll never find it unless they persevere. If your child is waiting to find the right job, encourage him to create a profile on http://Linkedin.com/ to start building his resume. It also lists unique job and internship opportunities in your area. Another great website to search for jobs in your area (and to post your resume) is http://indeed.com/

Ellie Kay

America’s Family Financial Expert (R)

Career Choices for Teens and Beyond

Career Choices

My husband always said that “flying jets beats working for a living.”  But he didn’t start out flying fighters, he had to develop a good work ethic as a teen. He washed airplanes at the Van Nuys airport, dug ditches and he managed to get good grades in high school that earned him the privilege of going to the Air Force Academy.

Part of getting ready to go to college or launch into a career involves finding a good job. Many high school students want part-time jobs. Often these part-time jobs help finance their college and can become stepping-stones which lead to lifetime careers. For this reason, high school part-time jobs are to be taken as seriously as an adult’s profession.

  • Where do I begin? – Looking for work means looking—profound, huh? Here are a few places to start:
  1. Referral – There are decided advantages to a job referral by someone who is in the company. You might hear about a position before it is advertised through the idea of a referral. Ask people that you respect for a referral within their company. If they are respected, you can benefit from their recommendation.
  2. Help Wanted – Pursue help wanted ads in your local newspaper if your personal connections fail.
  3. Employment Agency – Go through a state or private employment agency to open other options
  4. Door-to-Door – One last area that should not be overlooked is to go from business to business to ask if there are any job openings.  Warning, make sure you look the part before you knock on that first door!
  • Developing Confidence – Oftentimes a young person is lacking in confidence, but parents can help them overcome this insecurity by helping them to see areas in which they have experience and skills.  Sometimes kids ask, “How can I gain experience if I don’t have the job?”

Well, your kids do have experience, even if it isn’t the specific job experience they think they need. There are plenty of other skills that are a good compensation for work experience. Here are a few questions from Larry Burkett’s excellent resource entitled Get A Grip On Your Money—Student Text (order at http://crown.org/) to go over with your teen. Ask your teen the following questions and discuss the answers to help them gain confidence in applying for a specific job. Then help them go through the job wanted ads to get an idea of how their answers can place them in a specific job.

  1. What skills has your life at home taught you which might be helpful in serving others?
    1. Do you have younger siblings? This could prepare you to do child-care.
    2. What about lawn care, being a farmer’s helper, wood cutting, snow removal, house cleaning (spring or fall), or painting or papering?
    3. What academic skills have you developed?
      1. Are you good in math, English or other subjects? If you are, you might be a good tutor to a lower-grade student or a teacher’s aide.
      2. What skills have you learned in school such as typing, computer skills, filing, shop classes automotive mechanics, sewing or cooking? These are all marketable skills.
      3. What skills and personal qualities have you developed in outside of

school activities such as athletics or clubs?

  • Following Up on an Ad – If your child decides to answer a want-ad placed by an employer they should read it carefully and do as the ad instructs. If it says they need to present a resume, apply in person, or talk to a specific person, then they need to follow those instructions.  That way, the first impression on the employer will be a good one.
  • Telephone Follow Up – Practice phone etiquette with your child before they make the call. Pretend you’re the employer and they are trying to get an interview. Ask for the person specified in the ad, say please and thank you and speak clearly. If the person is not available, ask when they will be back and call at the specified time. Teach your child to identify themselves by saying something like, “Hi, I’m Ellie Kay and I am calling in reference to your ad about writing financial humor books.” Have a pencil and paper by the phone and write down instructions. Tell them to ask questions to make sure they understand and never, ever ask about salary or pay in the initial contact.

What is your dream career?

Ellie Kay

America’s Family Financial Expert (R)

(Un)Common Interview Questions

 

With graduations upon us, it’s a natural time to start preparing for job interviews.  At 7.5%, the unemployment rate is at its lowest level since 2008, so opportunities are out there. In the Kay household, our kids were naturally prepared for grilling questions thanks to our habit of asking them about their day every evening at dinner.

“What was something good about your day?”

“What did you do at school?”

“What was the best part of your day?”

They were obviously more forthcoming some days than others, but the habit made it more natural for them to talk about their experiences. This easily translates to job interviews, where prospective employers ask both conventional and unconventional questions.

You have probably already heard about the most common questions, such as ones pertaining to your history, why you’re interested and your strengths and weaknesses. But every now and then, you’ll get a common question disguised as an uncommon one. Here are five of them:

1. “What was your best MacGyver moment?”

When an interviewer asks a question similar to this, they’re really looking for examples of your adaptability and resourcefulness. Have you ever had any unconventional homework assignments or projects where you didn’t have common resources? This is a good time to talk about them.

2. “How many employees does it take to screw in a light bulb?”

This is a unique way to see where you stand on being a team player and if you have problem-solving skills. Most careers have a fair amount of group projects, so interviewers want to see if you’re a lone wolf (“Just one. Me.”) or if you can work with others (“As many as it takes to do it efficiently.”)

3. “What is our receptionist’s name?”

This could also be a question about something or someone else in the building. The interviewer is looking to see if you’re observant, paying attention and have a good memory. Just be aware of your surroundings and you’ll be prepared for this question.

4. “If you were in the NBA, what position would you play?”

Believe it or not, you don’t have to follow sports to answer this question correctly. The interviewer simply wants to know if you’re a leader or team player and ready to contribute immediately. Focus on answers that show off your willingness to do anything for the team/company.

5. “If you could have dinner with anyone in history, who would it be?”

This is a good opportunity to talk about a variety of things, from your hobbies to who you value. It can be a current or past figure, but should be someone you truly admire. This is a great way for you to relate to the interviewer and ease any tension or awkwardness.

Again, these specific questions are rare, but if you’re prepared to talk about things like your resourcefulness, leadership abilities and interests, you’ll be ready to answer them. A good starting point would be to look at lists of the most common questions and rephrasing them in a unique way. It can be fun and a great way to prepare for your first job interview.

What are some of YOUR favorite interview questions? Be sure to send this blog to your favorite college grad who might be looking for that dream job (or any job).

Ellie Kay

America’s Family Financial Expert (R)

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