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Four Bands Community Fund
Box 932
Eagle Butte, SD 57625
605-964-3687 phone
605-964-3689 fax

info@fourbands.org
KEY BEHAVIORS

Financial Literacy
  1. Assess Spending
    • Prepare and live by budgets.
    • Manage money and document how it is spent.
    • Separate necessities from other desired purchases and pay for necessities first.
    • Limit payroll deductions to asset-producing goals.
    • Anticipate future large purchases (car, furniture) and set aside money in a savings account.
    • When extra money is needed, think like an entrepreneur and earn short-term cash.
    • Pay bills on time using cash and checks, not credit cards.
    • Avoid or minimize debit card transaction fees.
    • To reduce phone, mail, and credit card solicitations, sign up on donotcall.gov, dmachoice.org, and optoutprescreen.com.
  2. Build Credit
    • Learn what it takes to get higher credit score.
    • Avoid actions that damage a credit score.
    • Take actions that improve a credit score.
    • Don't get fooled by “no money down” and “buy now/pay later” sales.
    • Keep only one credit card and select a card that does not charge high annual fees.
    • Calculate all the interest expenses into the price of a purchase using credit-cars, furniture, more.
    • Use credit cards for purchases that require them (i.e. car rental, business trip).
    • Pay the full credit card balance at the end of each month.
  3. Create Assets
    • Open a savings account.
    • Set up a retirement account.
    • If you are the principal bread winner, take out a life insurance policy.
    • Regularly put money into savings and retirement accounts.
    • Use low-interest loans for asset-producing goals (education, business, home).
    • Put extra cash in secured or low-risk investments.
    • Think of a car as a necessity rather than an asset; it loses value as soon as you drive it



Entrepreneurship
  1. Assess Options
    • Maintain a list of five jobs reflective of the current economy that could be applied for or created.
    • Write down job goals and the steps to take to achieve the goals.
    • Document skills, experiences, and accomplishments.
    • Prepare and maintain an updated resume and brief bio.
    • Collect letters of support from 3 references that aren't family members.
    • Keep samples of tangible accomplishments (art work, awards, picture of newly painted room).
    • Complete a sample business plan for a good or service that could be sold to a local market.
  2. Build Experience
    • Acquire the knowledge and skills needed to perform job duties needed in the current economy.
    • Complete five job experiences (volunteer or paid, short-term project or longer-term job).
    • Lead a group or supervise a person or project (team captain, school project, church event).
    • Make presentations to groups.
    • Do a mock job interview and successfully complete a real job interview.
    • Do a mock performance review and successfully complete a real performance review.
  3. Create Markets
    • Keep in touch with, and ask advice from people achieving success (classmates, co-workers, others).
    • Support local organizations and businesses (volunteer, make purchases, encourage other supporters)
    • Share personal accomplishments with someone one-on-one.
    • Talk to potential customers and learn what they want.
    • Distinguish yourself from others.
    • Prepare a sample contract offering something for sale and prepare a real contract that
    • results in a sale.
    • Sell a good or service (one-time sale-raffle ticket, school event; ongoing sales-mowing, cleaning).