What is the difference between helpful and harmful debt?
Thought leadership has defied the illusionary thinking that change needs overwhelming input. Setting up achievable milestones is essential in planning and mitigating future financial risks. This then becomes a strategic measure for starting up, growth, and the success of any business. Zehao seems to be heavily spent on non-profit expenses. His total costs sum up to $430. He only saves $10 of his total income. He doesn’t have a saving scheme, which is a risky stand for his future financial being. As a goal, Zehao wants to buy a laptop worthy of $700 in the next six months to carry out short online courses. He also hopes to start up a tree nursery for commercial purposes as a side hustle. To achieve this goal, Zehao has to compromise on some expenses to meet his final dream. Zehao should be principled in his financial obligations and cut on costs to increase savings, as stipulated in the above chart. He needs to majorly cut his drinking and entertainment expenses because it accrues to his significant expenses.
- What is the difference between helpful and harmful debt? List four types of debt (Two kinds of “good” debt, two kinds of “bad” debt). List at least two examples of each type of debt.
Debtors are also in confusion during hard times. A significant debt is one that profits the borrower or has financial value to the borrower. In contrast, a harmful one is non-profitable and might be a future liability to the borrower (Miller, 267). Most bad loans lead to strains in payment and may attract harsh repercussions in case of failure to pay within the prescribed timelines. Helpful debts can be used as investment opportunities. It is possible but not necessary to live an utterly debt-free life. There are different types of loans, some of which include; taking up a loan for education, taking a mortgage, credit loans, and payday loans.
It is wise to consider whether a debt is good or bad when going out for a loan. Useful mortgages have long-term and sustainable benefits (Jorion and Gaiyan Zhang, 877). For instance, taking a university loan or college education is a life-time investment with future long-term income. Also, taking a mortgage is considered a good debt since you live on property that appreciates year-of-year. On the other hand, bad debts are caused by credit money being used to purchase items that quickly lose their monetary valuation.
An example is buying a pair of shoes on credit then avoid paying for the credit card for a moment. Another example can be taking payday loans. These loans lead to crises when payment time comes, but the borrower has to post date to meet other financial needs. Bad debts allude to the fact that, if you can’t afford it, don’t buy it.
Research and describe the hiring process used by two local employers who hire teens. Create ten interview questions an employer might ask you in an interview, and then answer them. (Instead of conducting and critiquing the mock interview, simply answer the questions as you would if you were the person being interviewed.)The minimum hiring age for teens may differ among companies. A company like Adidas hires teens ranging from the age of 16. The hiring process for a Retail Store Associate focuses on applicant’s customer service and communication skills, potential to work in a high-speed environment, punctuality, being a team player, and being a holder of a high school diploma with an experience of not less than six months.
Similarly, Gap Inc. offers many jobs for teens globally. They also employ teens from the age of 16 years old (Sandronsky, 103). The teens are offered jobs whose hiring process includes an online application where shortlisted candidates must have the set qualifications and are further subjected to an interview to defend their positions.
Employers Interview Questions and Answers
Q1. Kindly tell us about yourself?
My name is Paul Johnson. I am a diploma in Public Relations graduate from the University of London. I have a 2-year experience in the field, and I would like to challenge myself by taking up this role.
Q2. What are your strengths in relation to this Job?
My strengths are mainly in communication skills, socializing, computer proficiency, strong analytical skills, and ethical decision-making.
Q3. Do you have any weaknesses?
My weakness is on dealing with lazy people. I tend to take up tasks to meet deadlines rather than depending on lazy people.
Q4. What are some of your hobbies?
My hobbies are traveling, networking, reading novels and journals, and gaming.
Q5. What information do you have regarding this company?
The information I have is that the company has been in existence for the last ten years and is tied in the firm belief of delivering exceptional services to its clientele.
Q6. Why should this company hire you?
This company should hire me because of my past achievements, my range of skills, and the experience and the energy that I am bringing in.
Q7. Why have you chosen to work with us?
My career objectives are my main move to work with this company. All my skills are fully utilized hence room for becoming better.
Q8. What are your goals in the next five years?
My goal in the next five years is to have fulfilled the company’s vision and contribute to the business’s bottom line margins.
Q9. How much do you expect us to pay you?
I would accept whatever the salary will give concerning its standards.
Q10. Do you have any questions for the panel?
My only question is about the disparity in the information on the website and the fliers given by the receptionist.