Planning for the Future

1. Planning for the Future

2. Career Planning Objectives • Choose a major • Develop a good cover letter and resume. • Identify career services at your college and in your community.

3. Changing Job Market • Demand will be high for college grads • The new market: • Sophisticated technology developments • Expanding globalization • Shortage of skilled workers • Worldwide shift in demographics

4. How To Choose A Major • Take your time • Research a variety of careers • Talk to your advisor and professors • Read trade publications from the field • Get a part-time job in the field • Shadow someone in the field • Take general education courses

5. The Best Jobs In The U.S.(CNNMoney.com) • Four fields to explore: • Medical professions • Engineering • Healthcare • Education

6. Career Reflections • What was the first career you ever wanted? • Is this your major now? Why or why not? • Money aside, what would you do if you could do ANYTHING in the world? • Who is a person that has the job you want? • What is your purpose in life?

7. Nine Steps To Career Decision Making... • Dream • Talk to an advisor • Use college electives • Visit the career center • Read and research • Shadow • Join pre-professional clubs • Get a part-time job • Get a practicum or internship

8. Career Cruising • http://www.careercruising.com • User Name: Luzerne • Password: lccc • Complete the Career Matchmaker section • Explore careers including the starting salaries

9. Networking • Your network may include people from: • High school and college • Student government • Clubs and professional interests • Newspaper staff • Sports teams • Family connections • Fraternities and sororities • College committees • Community organizations • Volunteer work

10. Food For Thought • In today’s America: • We spend 40% less time with our children • We spend 163 more hours on the job per year • 69% of us would like to slow down and live a more relaxed life

11. Where Do You Go From Here • Transferring to a four-year university • Entering the workforce • Re-entering the workforce

12. Transferring • Request a catalog from the 4-year institution • Apply early for financial aid • Ask about transfer scholarships • Request that transcripts be sent • Ask for recommendation letters • Note student activities and groups • Get started now

13. Going (Back) to Work • Career values and goals • Career counseling • Résumés • Cover letters • Career fairs • Internships • Interviewing • Other considerations

14. Asking for a Recommendation Letter • Ask someone who knows you well. • Ask someone who has seen you at your best. • Ask at least two weeks before due date. • Provide necessary materials, including addressed, stamped envelopes. • Provide information about your goals and accomplishments. • Refrain from asking to see the letter.

15. Cover Letters and Resumes • Tailor the resume to the job you want. • Provide name, address, phone number, and professional email address. • Include: • Information about educational background and work experience. • Extracurricular activities. • Awards and accomplishments. • Provide references. • Make sure information is accurate. • Proofread.

16. Interviewing • Research the company to ask questions. • Practice interviewing before going. • Dress professionally and pay attention to details. • Arrive early. • Listen carefully and pause before answering. • Maintain eye contact. • Highlight strengths and accomplishments. • Follow up with a thank-you note.

17. Money Management Objectives • Evaluate types of loans and grants • Make decisions about borrowing money • Construct and use a budget • Protect yourself from identity theft • Understand your credit score • Practice fiscal fitness

18. Types Of Financial Aid • Grants • Money you don’t need to repay • Work study • Money for work you do at the college that does not have to be repaid • Loans • Borrowed money that you must repay with interest • Scholarships • Money you don’t need to repay • Often have specific qualifications

19. Some Eligibility Factors • Have financial need • Meet educational requirements • Be enrolled in a degree program • Be a U.S. citizen • Have a social security number • Make satisfactory academic progress

20. Tips For Applying For Aid • Pay attention to deadlines • Read instructions carefully • Complete all of and proof your application • Submit required documentation • Never lie about your financial situation • Apply early • Meet with a Financial Aid Officer

21. Tips For Applying For Aid • Look for information on private aid • Apply for aid along with admission • Try electronic filing • Keep copies of your annual tax returns • Complete the FAFSA • Apply for as many sources as possible

22. Making a Budget • Determine your monthly income • Identify your fixed expenses • Identify your variable expenses • Plan for savings • Emergencies • Retirement • Big expenses (Vacations, new car, house)

23. Making a Budget • Fixed expenses • Housing (rent or mortgage) • Utilities (electricity/gas/oil, water, phone, cable) • Car expenses (loan, insurance, saving for repairs) • Student loan payments • Child care • Insurance payments/Medical bills

24. Making a Budget • Variable expenses • Food (groceries, eating out) • Entertainment (movies, concerts, books) • Clothing & personal grooming • Credit card payments • Pay more than the minimum!

25. Credit Card Debt • The worst kind of debt • 76% of college students have credit cards • Average balance carried is $2,169 • Students with high debt have lower GPAs • Students with high debt have higher dropout rates • How long will it take to pay off? • http://www.federalreserve.gov/creditcardcalculator/Default.aspx

26. Tips For Cutting Your Expenses • TRACK YOUR SPENDING • Keep a notebook/computer file • Record every penny you spend • Identify your biggest areas of spending • Control impulse buying • Carpool, take public transportation, walk • Stop eating out • Use coupons and buy during sales • Live more simply

27. Minimizing Identity Theft • Carry only I.D. and cards you need right now • Sign credit cards in ink (write Check ID on back) • Use only secure web sites for purchases • Do not write you PIN #, SS # or passwords down • Have a friend check your mail when you’re away • Destroy all carbon copies, including the carbon • Watch for “shoulder surfers” at ATM machine • Avoid using your Social Security # • Check your credit file periodically • https://www.annualcreditreport.com/cra/index.jsp

28. Assignment • Complete the Career Cruising activity • Complete the Monthly Income Worksheet and the Budget Plan