Careers

1. What will you do with your future? Careers

2. Where do you see yourself in 5-10 years? Create an outline/rough draft Things to think about: • Which college/university/trade school • Desired job/career • Where you want to live? • What kind of family do you want? • How will you support this life?

3. Goal Length • Short-term • 0-3 months • Intermediate-term • 3-12 months • Long-term • More than 1 year

4. Job vs. Career • Are these the same? • What is a job? • Something that just gets you by for a while • Ex. Part time @ McDonald’s, Wal-mart, Mall • What is a career? • A chosen occupation with room for advancement • Ex. Policeman, architect, accountant, manager

5. What Are Skills? • Gifted or Learned? • What kind of skills can a person have? • Sports – Michael Jordan • Computer – Bill Gates • Drawing – Walter Disney • Comedian – Chris Rock • What kind of skills are required today?

6. skills • Analytical • Communication • Computer • Detail-Oriented • Flexiblity/Adaptability • Honesty/Integrity • Interpersonal • Leadership • Motivation/Initiative • Organizational • Self-confidence • Strong work ethic • Teamwork Which ones do you have?

7. Skills • How do you know what skills are needed? • 1st – decided what you want to do for your career • 2nd – research what is required for training/school • 3rd – work toward & obtain required skills

8. Training/Schooling – Time • Trade School • Cosmetology School (usually < 2 yrs) • Community College • 2 yrs for Associates Degree • Public & Private University • 4 yrs for Bachelors Degree • Post Bachelor’s – both require a Bachelors • Masters (2 yrs) / Doctorate (2 yrs)

9. Training/Schooling – Cost • Trade School • About $2,000 total • Community College • About $2,000 per semester • Public University • Ranges from $3,000 - $8,000 per semester • Private University • Ranges $15,000 - $50,000 per semester

10. Applying for a job • Use proper language and speech • Update your résumé • Call and be persistent. Don’t give up.

11. Before the Interview • 1. Research the organization. • 2. Practice your interviewing skills. • 3. Prepare questions that you plan to ask. • 4. Prepare proper dress and grooming. • 5. Plan to arrive early at the interview.

12. During the interview • 1. Relax. Be yourself. • 2. Answer questions completely and calmly. • 3. Ask questions to help you better know the organization. • 4. Ask when you might hear from the organization.

13. After the interview • 1. Write down notes on how you can improve for your next interview. • 2. Promptly send a thank-you letter to the person with whom you interviewed to express your appreciation for the opportunity to meet with them.

14. Possible Interview Questions 1. What activities have helped you expand your interests, abilities, and knowledge? 2. In what types of situations have you done your best work? 3. Describe people who motivated you the most. 4. Describe someone with whom you had difficulty working with. 5. What are your major strengths? 6. What are your weaknesses? What have you done to overcome your weaknesses? 7. What do you know about our organization? 8. Who is someone you admire? Why do you admire that person?

15. Fringe Benefits A payment from an employer other than wages/money • Health, dental, and eye care insurance • Life insurance/disability insurance • Flexible spending account • Health savings account • Tax-deferred retirement plan • Paid vacation • Paid holidays • Parental leave • Stock purchase plan • Employee assistance plans • Employee fitness programs • Employee discounts • Tuition assistance or reimbursement

16. What steps allow you to be successful? Planning

17. Needs V. Wants • Need? • Must have to survive • Want? • Extras in life that make it fun & interesting • Need – shoes Want – Jordan’s

18. Decisions & Influences • Values • Peers • Habits • Feelings (love, anger, frustration, rejection) • Family • Risks and consequences • Age

19. How to Create a Plan

20. 1. SMART Goals • Specific • Measurable • Attainable • Realistic • Time Bound

21. 1. Set SMART Goals • Specific • Where or what? • Measurable • How much? • Attainable • Can I achieve this? • Realistic • Within my means? • Time Bound • How long? • Wants vs. Needs • Do you need it? • Do you want it? • Values • What do you believe in? • Goals • Clear, consice

22. 2. Analyze Information • Where do you get your money from? • Job/parents/government? • Where is your money going? • Keep a record of where you are spending your money

23. Assignment: Spending Log • Keep track of how much money you are getting and spending this week. Keep track each day in your notebook. or Make a foldable that you can keep in your wallet and update every time you purchase something.

24. 3. Create a Plan • Identify your goal • What do you need/want? • Our Example: Shoes • Establish your criteria • What kind? When? Where? • Our Example: Athletic, Casual, Dressy / JCPenny, Kohl’s, Finish Line / Prices

25. 3. Create a Plan • Examine your options • What are all the options? • Our Example: Athletic – Nike’s, Adidas, Jordan’s, Reebok • Our Example: Nike v. Puma v. Pumps • Weigh the pros and cons • Do the bad outweigh the good? • Our Example: Price / Quality / Need/Want

26. 3. Create a Plan • Make your decision • Pick the one that’s best for you. • Our Example: Which ever one has the most pros and suits your needs • Evaluate results • Was it a good choice? Why or why not?

27. 4. Implement the Plan • Be a Responsible Spender • It takes discipline! • Don’t spend more than you have • Stick to your Plan • Write your goals out so you can see them • Tell someone else • Review your plan regularly

28. 5. Monitor & Modify the Plan • A plan is NOT written in STONE • Your goals will change • Unexpected obstacles • Resources may change • Receive unexpected money • Modify whenever life changes

29. Let’s Try it • Tony is starting basketball in two months and needs to buy new shoes. He is expecting to spend $100. How much will he need to save per month to reach his goal? • What is the length of the goal? • How much per month?

30. On Your Own • Jill just lost her phone and needs to buy a new one. She wants to get it by next Friday and she knows it will cost $50 for the phone she wants. How much will Jill need to save per day to reach her goal?

31. Using your money wisely Budgeting

32. Percentage Review Fact: 34% = 34.00% • Move decimal two places to the left when changing percent to decimal Fact: 126% = 1.26 • Move decimal two places to the right when changing decimal to percent Fact: .067 = 6.7%

33. Essential Question • How does a budget help you reach your goals?

34. Goals SHOULD be… • Specific • Measurable • Attainable • Realistic • Timebound

35. Budget • What is a budget? • PLAN for your money • Income – expenses = net worth (positive or negative)

36. Why have a Budget? • To determine how much $ you have to spend • To decide how you want to spend you $ • To determine how to spend $ in the future • To learn to live on less than available income • To stay out of financial trouble

37. What does a budget do? • Puts you in control of your $$ • Helps you create a spending visual • Helps you prevent impulse spending • Helps you decide what you can & cannot afford • Keeps track of how you spend your $$ • Helps you create a savings plan

38. Essential Questions • What is net pay and why is it used when budgeting? • What are the three steps to calculate Net Pay?

39. Paycheck Vocabulary • Hourly Rate • Amount you get paid per hour • Gross Pay • Total amount you are paid before taxes • Net Pay • Total amount you are paid after taxes • Tax Rate • Percentage taken out for taxes

40. What is a W-4 form? • A form that tells the employer the correct amount of tax to withhold from an employee's paycheck. • Employee fills out

41. What is a W-2 form? • A form that reports an employee's annual wages and the amount of taxes withheld from his or her paycheck. • Employer fills out

42. Part 1 – Income • Money you receive • Job/parents/government • Paycheck • Taxes taken out

43. Types of Taxes • Federal Income Tax • State Income Tax • Social Security Tax • Medicare Tax

44. Calculating Net Pay • Total Hrs Worked * Hourly Rate = Gross Pay • Gross Pay * Tax Rate = $ of Taxes Taken Out • Gross Pay - $ of Taxes Taken Out = Net Pay

45. Let’s Try It Together • $7.50 * 25 hours = $187.50 • $187.50 * .25 = $46.88 • $187.50 - $46.88 = $140.62 Net Pay = $140.62 • Sarah earns $7.50 / hour and works 25 hours per week. About 25% of her pay is deducted for taxes. • What is Sarah’s Net Pay?

46. What if? • How would you calculate net pay for someone that gets a yearly salary? • If John gets paid $25,000 salary, 19% is taken out for taxes, and he gets a check twice a month, how much is his net pay?

47. Let’s Try It • Katie works part time at Department Store ABC and is paid $9.65 an hour plus commission on everything she sells.  This month her commission was $794. She is taxed the same on her commission as on her regular hourly pay.  Her husband works at XYZ Factory is paid a salary (the same amount every month).  Clark’s salary is $49,000 a year.  Katie works 36 hours a week on average at Department Store ABC.  (Tax Rate = 22%)

48. Let’s Try It • They own a house and pay a monthly mortgage payment of $1850, this includes house insurance.  They pay $65-$75 for utilities (water, trash, and electric).  They go out on the town to movies, dinner, or other entertainment and spend between $35 and $50 a week.  They only pay for cell phones and spend $75 a month for their entire smart phone bill. They have to share one car.  Their car payment is $310 a month.  Their insurance is $475 every six months.

49. Essential Questions • What are different types of expenses and how do they differ?

50. Part 2 – Expenses • Something you spend money on (needs & wants) • #1 Expense = PYF (Pay Yourself First) • Saving money for yourself • Builds good saving habit • Can be done automatically