Notarization

Notarization: Officially certifying a legal document.

Purpose : to ensure the authenticity of the signatures that appear on the document.

Responsibilities: To draw up of certify legal documents such as contracts, deeds, and other documents used in other jurisdictions

Process:
- Decide if you want legal training
-Make sure you have a good background
-Check if your state require notary classes before applying
-Take the notary exam if required by state
-Check who is responsible for your licensing
-Apply
-Await for acceptance or rejection
-Follow the laws for a Notary by the State
-Market yourself and make use of the tools provided by the state.

Meeting Agenda and Meeting Minutes

Agenda : is a plan of the topics that will be discussed at the meeting

Minutes: are the minute by minute notes that are taken throughout the meeting

Review Semester 1 Final!

1. Five Functions of Management:

Planning

-Planning is setting goals and using methods to achieve those goals.

 

Organizing

-Keeping things in order and making sure everything gets done on time.

 

Staffing

- Making sure you have a good staff that you will hire and train to make your business successful.

 

Leading

-Influence your employees or fellow co-workers  to accomplish the goals that are set.

 

Controlling

-Making sure the set goals are accomplished.

2. Social Responsibility of Business: is the responsibility that the company has to their costumers to give then an experience worth their time.

3. Differences between a Credit Union and Bank:

 

             -You need to qualify for a Credit Union membership, Banks you do not.

            -Employers who sponsor the credit Union allow employees membership

            -Credit Unions serve people who live in certain geographic locations

            -CCU is open to everyone

            -Home owners association might also be able to participate in the membership

4. Gross Pay: the amount of money you earn before taxes.

5. Net Pay: the amount of money you earn after taxes.

6. Checking Account: an account you can put money into and take out of but the amount of money you have in that account doesn't increase unless you deposit money into it and it doesn't decrease unless you withdraw money from it. It doesn't have an interest rate.

7. Savings Account: is an account the you can have that you will put a certain amount of money into it and the money will increase by the interest rate of your bank or credit union and it can increase Monthly or Yearly depending on how you set it up with you r bank or credit union.

8. The check number is located at the top right corner of the check.

9. You sign the check that you wrote on the line located at the bottom right of the check.

10. Pay to the order of means who the check is being made out to.

11. A paycheck comes from the employer/company you work for.

12. A deposit slip is used so you know how much you are putting into and taking out of your account after cashing a check.

13. If you want cash back when filling out a deposit slip you have to fill in the amount you want back and the lines/boxes that are labeled "less cash"

14. You endorse a check on the back usually there will be a box designated for endorsement only.

15. You must indorse a check that you received so no one lese can cash it but you and so you know your money will go into you account or directly back to you.

16. Three ways to endorse a check is Blank: just your signature this will either be able to be cashed or deposited into your account, Restrictive: Deposit only with signature & account number, Special: Pay to the order of and sign with account number and this will give you your money back.

17. Strategic Planning: means to always have a plan can will work well with you and that you know you can handle whether it be for school, work or just something so simple that you need to flow smoothly.

 

Definitions!

Agenda: is a list of topics that are to be discussed at a meeting started with calling the meeting to order, then the topics of discussion, then ending with adjournment.

Meeting Minutes: a document kept of the meeting or hearing, to keep track of who attended the meeting, everything that was discussed and who spoke.

Travel Itinerary: A plan of the place you are visiting such as where you want to go and timer somewhat like a schedule.

Purchase Order: is a commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.

a list of goods sent or services provided, with a statement of the sum due for these; a bill.

Invoice: a list of goods sent or services provided, with a statement of the sum due for these. A bill.

How a Family got out of $109,000 in Credit Card Debt!

1) The family earned about $120,000 a year and the were $109,000 dollars in debt.

2) They had 5 credit cards and got so into debt because they didn't have a good hold of their money they would overspend and didn't really know they were overspending.

3) He came up with a new money plan by reading Dave Ramsey's book 'The Total Money Makeover'.

4) -First he cut 4 of the 5 credit cards they had.
    -Then called the company of the remaining card and dropped their card limit to $1,000.
     -He then made and Excel spreadsheet and wrote down every expense the family had each month and cut out the luxuries.
     -They stopped going out to eat.
     -Instead of spending $10 on the ice cream truck for one day, they went to the store and got ice cream for $10 and it lasted them the whole week with out spending more then they had to.

5) The children cut out the video game services and didn't spend money on the ice cream truck, his wife went back to work and increased their household income to $160,000 a year.

6) The credit union helped by:
    -Having a Debt Management Program
    -They also helped by contacting the credit card companies and consolidated  their debt and reduced the interest rates.

7) The name of his blog is Debt Discipline.

8) The emergency fund was $1,000 and only covered the dishwasher and car breaking down. But when the money from the accident lawsuit came in the put it straight into their emergency fund.

9) It took them 50 months or a little over 4 years to pay off their debt. At the dinner table they talk to their children about money and budget and getting them started on the right foot to finical stability.

10) He's focused on saving for retirement Fund and their Kid's College Fund.

11) The best advice I've learned from this article is to be very cautious with your money and how you spend it and how it can ultimately effect you finically.

12) His website link:  http://www.debtdiscipline.com/
     -He encourages young teens to read about being financial stable such as a book called 'Money Conscious Student'
     -An app called ZBBudget : he recommends it if you are starting to be financially responsible
     -He expressed how him and his family feel about how they changed so many things to get out of debt and they realized that money isn't something that can be thrown around but that its actually very valuable.

September 30th, 2014

1) To insert/place graphics into documents you have to click the insert tab and go down to picture from documents and select the picture you want then click insert and it will appear in your document.

2) 5 Functions Of Management: Planning, Organizing, Staffing, Leading, Controlling.

3) Resume- is a document that has information of you and the skills you have to acquire a job such as soft skills, computer skills and others you  might have. You will also find contact information, and past employment information.

 

 

4) Social Responsibility of Business: is the responsibility the company has to their costumers and employees.

 

5) Savings Account: is an account the you can have that you will put a certain amount of money into it and the money will increase by the interest rate of your bank or credit union and it can increase Monthly or Yearly depending on how you set it up with you r bank or credit union.

 

6) Compound Interest: is interest added to the principal of a deposit or loan so that the added interest also earns interest from then on.

 

7) Simple Interest: is money you can earn by initially investing some money (the principal). A percentage (the interest) of the principal is added to the principal, making your initial investment grow.

 

8) Checking Account: is an account that you can have you pay check go into or you can deposit other money into it and you are able to with draw from it at any time for the money you have in the account never changes unless money is deposited in or withdrawn.

 

9) Check Endorsement: When the check is signed by both the person whom issued the check and the person whom received the check on the front and back. Front- Issuer & Back-Receiver. This is so that where you are taking the check knows that you both agree to the transaction that will take place by cashing or depositing the check.

 

10) Check Writing: To write a check you need to first date the check at the top corner.

Then you write who the check is for. For example if you are at the store you make it put to the store name (Walmart) or if it is for a person you put their legal name.

Next you write the amount of money in numbers in the little write box and the end of the name

Then on the second long line you need to write out the amount in words for example : Twenty-Five dollars and 0/100--------------------- the 0/100 is foe the amount of cents over 100. if there is any room left on the line you draw a line all the way to the end for security reasons so no one tries to add on more money to the check then what you've written.

Then on the bottom there are two smaller lines on the left and right, the left is where you put a brief description of the item you are purchasing or reason it is going to a certain person, the right line is where you need to sign it using your signature.
Link: http://www.themint.org/teens/writing-a-check.html

11) Bank Statement: a printed record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it.

12) Checkbook Reconciliation: (Balancing a Checkbook) To balance your check book all it is keeping a record of how much you are taking out of you account and how much you are depositing into.
Number/code id the check number
Date- is so you know when you deposited or took out money
Transaction Description- is so you know why the transaction was made
Payment Amount- is for withdraws only its when you're taking out money
Deposit Amount- is when you are putting money into your account
Balance- most important part because all you transactions should come out the exactly what you account says you have.
Link: http://www.themint.org/teens/balance-your-checking-account.html

13) Deposit Slip: A small written form that is sometimes used to deposit funds into your account.

14) Differences between Banks & Credit Unions: credit unions are non-profit organizations. Their profits are distributed right back to their members. Banks are profit-oriented, earn profit for stock holders.

15) Credit Card: allow the holder to purchase goods or services on credit. But you only get a certain amount you can spend on the card and if you go over that you are charged fees.

16) Credit History: a record of someone or a company's past borrowing and repaying, including information about late payments and bankruptcy.

17) Credit Report: report of your history prepared by a credit bureau and used by a lender to in determining a loan applicant's creditworthiness.

18) FICO Score:  considers both positive and negative information in your credit report. Late payments will lower your FICO Score, but establishing or re-establishing a good track record of making payments on time will raise your score.

19) Debit Card: a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.

20) Credit Card Interest Rate: The charge for the privilege of borrowing money, typically expressed as an annual percentage rate. What you have to pay to receive money to the credit card.

Checking Accounts!

Checking Accounts

Your checking account is an account you can put money into and take out of but the amount of money you have in that account doesn't increase unless you deposit money into it and it doesn't decrease unless you withdraw money from it. It doesn't have an interest rate.

 

How to Write a Check

 

To write a check you need to first date the check at the top corner.

Then you write who the check is for. For example if you are at the store you make it put to the store name (Walmart) or if it is for a person you put their legal name.

Next you write the amount of money in numbers in the little write box and the end of the name

Then on the second long line you need to write out the amount in words for example : Twenty-Five dollars and 0/100--------------------- the 0/100 is foe the amount of cents over 100. if there is any room left on the line you draw a line all the way to the end for security reasons so no one tries to add on more money to the check then what you've written.

Then on the bottom there are two smaller lines on the left and right, the left is where you put a brief description of the item you are purchasing or reason it is going to a certain person, the right line is where you need to sign it using your signature. See sample check above. ^^^^^^^^
Link: http://www.themint.org/teens/writing-a-check.html

 

Balance a Check Book

To balance your check book all it is keeping a record of how much you are taking out of you account and how much you are depositing into it just like the sample book above. ^^^^^^^^^^^^^^^^^
Number/code id the check number
Date- is so you know when you deposited or took out money
Transaction Description- is so you know why the transaction was made
Payment Amount- is for withdraws only its when you're taking out money
Deposit Amount- is when you are putting money into your account
Balance- most important part because all you transactions should come out the exactly what you account says you have.
Link: http://www.themint.org/teens/balance-your-checking-account.html