Personal Finance 8 Life Time Decisions. How many of you… Are planning on going to college? Already...

Personal Finance8 Life Time Decisions

How many of you…

•Are planning on going to college?•Already know what you want to do for

your first career?•Already have a skill you can make money

with?

How many of you…

•Plan to get a regular paying job in high school?

•Plan to get a regular paying job while going to college?

How many of you…

•Have a credit card?•Have a debit card?•Have a checking account?•Have a savings account?

How many of you…

•Are hoping to buy a car in the next couple of years?

•Will be expected to help pay for use of a car in the next couple of years?▫Insurance?▫Gas?

How much money do you think you’ll get in your first job?•$ per year or per month?•Hourly rate?

OPPORTUNITY COSTWhat does this mean?

Goal of this class

•To explore a lot of these types of decisions you’ll be meeting in the next few years

•Talk with people who you would deal with to make those decisions,

•And give you a better idea of what’s involved when you get there.

Types of decisions (order is still a bit uncertain)1. Careers2. Handling money3. Loans / credit cards4. Insurance5. Buying a car6. Renting an apartment or a condo7. Taxes8. Financial Planning

Format of each unit

•Discussion•Field trip or speaker•Discussion•A week off

•Some homework▫It won’t be graded▫It will be expected to be done to help with

class discussion

Communication

•Email me if you’re not coming:▫Lwhipker@earthlink.net

•Google Group: ▫personalfinanceclass@googlegroups.com

•Outline/references/PowerPoints:▫http://personalfinance2011.wikispaces.com

CAREER CHOICE

Career vs job philosophy

•What’s the difference?•Which one sounds more appealing to you?•Which one do you think your parents

have?

How would you decide a career or a job?•Long term goals?

How would you decide a career or a job?•Personality fit?

How would you decide a career or a job?•Education?

How would you decide a career or a job?•Your passion?

How would you decide a career or a job?•Job progression?

What jobs pay well?

•Unusual jobs that pay well?▫http://www.job-interview-site.com/unusual-j

obs-that-pay-well-unusual-high-paying-careers.html

▫Top paying jobs:▫http://www.careerinfonet.org/oview5.asp?L

evel=Overall

Fast Food Salaries

•$29,000 per year▫Hourly? 50 weeks, 40 hours/week =

$10/hour▫Is that enough?

•Pick a job title and find out how much they pay▫http://www.simplyhired.com/a/salary/search

/q-lawn+care

CAREER EXPLORATIONSBy Interest Levels

http://driveofyourlife.com

Sign in (outside Indiana)School: homeschool

Teacher: Linda Whipker

Cool Off Topic TIP“Snipping Tool”

3 letter code describing what your top 3 traits are according to the way you answered the questions.

Mine: SIQ (structured, influential, questioning)

Homework

•Drive of Your Life▫Do the questionnaire – email me by Wed

noon: Your 3 letter code 5 careers (what they chose or add one or two

that you liked better Career name, Salary, Education

▫Think about: Good fit?

Homework Part 2• Talk to your parents

▫Why did they choose to do what they’re doing now (your Mom AND your Dad)

▫How often did their primary “career” change from the time they were teens until now?

▫Do they consider their current occupation a “career” or a “job”? (Good description of the differences: http://www.diffen.com/difference/Career_vs_Job )

▫For the first major career/job they had, what were their motivations for choosing it?

Next and following weeks

•Speaker: Sally CurryCareer coach

•Resumes, brochures, etc.