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You must put money in before you can take it out!

You must put money in before you can take it out!. Section 1. Personal Sources of Income. Wages hourly, overtime Salaries set monthly amount Tips voluntary payment for service Commissions % of total sales Some get salary, some don’t. Entrepreneurship and Business Income. Corporation.

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You must put money in before you can take it out!

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  1. You must put money in before you can take it out!

  2. Section 1

  3. Personal Sources of Income • Wages • hourly, overtime • Salaries • set monthly amount • Tips • voluntary payment for service • Commissions • % of total sales • Some get salary, some don’t

  4. Entrepreneurship and Business Income Corporation • Owned by group of stockholders • Share of after-tax profits Sole Proprietorship Partnership Co-owners Both parties legally joined together Share of after-tax profits • Single owner • Paid with profit • ALL after-tax profits are yours

  5. Investment Income • Investing • Committing $ for period of time to earn more $ • Stocks • Bonds • Real Estate

  6. Government Payment (Income) • Financial Aid for Students • College funding • Social Security • Retirement benefit • Medicare/Medicaid • Health • Unemployment benefits • Insurance when job lost • Assistance • Food stamps, welfare, etc. Social Security poster 1937

  7. Grants, Royalties, Inheritance • Grants • “free” money for projects • Royalties • % of sales for products sold Music, books, etc. • Inheritance • $, property, object of value from someone who has died • Can become continuing source of income if managed

  8. Choosing Your Career • Daydream • Make a thorough self-assessment • Gather career information • Set a realistic career goal • Make a decision • Outline a plan of action

  9. Section 2

  10. Networking • Building professional relationships that assist both parties in reaching their goals • Best source for job leads • 80% of all jobs found by networking

  11. Professional and Trade Organizations • Resume exchange program • Job posting program • Search for organizations within your profession • Great place for networking

  12. Job/Career Fairs • Plan ahead • Set up a “plan of attack” • Network, even if there are no jobs in your field at this time

  13. Traditional Sources of Job Leads • Newspaper Ads • Classifieds • Employment Agencies • Match workers with jobs • Free vs. Fee • Cold Contact/Direct Mail • Send to HR Director if you don’t know if there are jobs

  14. Internet • Can be difficult • Portal Site • Entrance to other related sites on the Internet • Riley Guide • Online Job Sites • Corporate Career Centers • Posted by companies • Provide information on company, as well as job openings • Information on guidelines for applying

  15. Online Job Sites • CareerOneStop – www.onestop.com • USAJOBS – www.usajobs.gov • The Riley Guide – www.riley.com • Job-Hunt – www.jobhunt.com • www.Monster.com • www.CareerBuilder.com • www.HotJobs.com • www.Craigslist.org

  16. Organizing Job Search • Computer • Excel or Word • Paper and Pencil • Job-Lead Cards • Keep track of: • Job leads • Contact Information • Job Information

  17. Applying for aJob • Personal Data Sheet • Detailed information that you might need on an application

  18. JobApplications • Typewritten (if online) • Blue or Black Ink • Neat, legible • Sometimes is first impression • Check spelling • Never leave blank

  19. Forms Needed • Social Security Card • Must have SS Card to be paid legally • Keep card safe • Memorize number • Work Permit • Document that verifies age

  20. Résumé • Summary of applicant’s information • Organized • Customized to Job • One to two pages • Electronic Résumés • Word processing program • Text only file • Times New Roman, 12-pt font • Website’s Résumé Builder • Include: • Job Title • Contact Information • Education • Special Skills • Experience • School activities and awards • References • Keywords – page 23

  21. Problems Providing Personal Information • May not want current employer knowing you are looking • Privacy Policy for online résumé bank • Identity Theft • Mask Personal Information • Delete Information when not needed anymore

  22. Cover Letters • DO NOT restate your résumé • Introduce yourself • First opportunity to tell about yourself • Custom for each job • Proper Contact Information • Research Company and include info. you learn • Spell Check and have someone proofread!!!!! • Paragraph 1 • Introduce yourself • Title you are applying for • Paragraph 2 and/or 3 • Interests, qualifications, why you can do a good job • Last Paragraph • Take initiative • You will call to schedule a time to meet to discuss position

  23. Interviewing Section 3 Pre-Employment Testing

  24. Interview Advice • Lasting Impressions • Be On Time • Go Alone • Eye Contact • Answer Questions Thoughtfully • Handle Illegal Questions Intelligently • Ask Good Questions • Leave when Finished • Thank You Letter

  25. Pre-EmploymentTesting

  26. Checking Your Credit Score • Used by employers • FICA • Can be disadvantage for young people without history • Measures Responsibility and Organization

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