Does Money Grow on Trees?

Value of a Job & Earning Power

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 2

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Where does Money come from?

Workin

g

Gifts

Allowance

Bonus

Interes

t

Fundraising

Scholarships Borrowing

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 3

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

A Look from the Treetop

In this lesson we will learn:– Why People Work– Value of a Job, Occupation, and Career– Relationship between Education Level and

Income– Standard of Living– Identify Needs and Wants– Aspects of Well-Being– Planning for the Future

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 4

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Why Do People Work?

To feel personal satisfaction

To improve their skills

To earn money

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 5

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

What is a Job?

Work role within a specific organization– Paid or unpaid

Examples:– Lawn mower at Community Golf Course– Secretary at ABC Law Firm– Brain Surgeon at Hospital X

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 6

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

What is an Occupation?

A wide category of jobs with similar characteristics

What other jobs fall under the occupation or “umbrella” of an educator?

Job

Jo b Job Jo b

Job

Educator

Youth Group Leader

High

School

Teacher

Community Volunteer

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 7

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

What is a Career?

A lifetime journey of building and making good use of your skills, knowledge and experiences

Influenced by:– Family– Friends– Education– Work– Leisure Activities

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 8

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Mind Mapping

Career(Educator)

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 9

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Mind Mapping

Career(Educator)

Occupation

(Math Teacher)

Occupation

(Elementary Teacher)

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 10

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Mind Mapping

Job(Teacher Aid) Job

(Swim Coach)

Job(Play Ground

Worker)

Job(maintenance

staff)

Career(Educator)

Occupation

(Math Teacher)

Occupation

(Elementary Teacher)

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 11

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Mind Mapping

Career(Professional

Athlete)

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 12

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Mind Mapping

Career(Professional

Athlete)

Occupation

(basketball player)

Occupation

(football player)

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 13

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Mind Mapping

Job(Equipment

Manager)Job

(Floor Sweeper)

Job(grounds

keeper)

Job(maintenance

staff)

Career(Professional

Athlete)

Occupation

(Basketball Player)

Occupation

(Football Player)

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 14

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Your Turn!

JobJob

Job Job

Career

Occupation Occupation

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 15

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

A Day in the Life of Bill…

Carefully read the story about a typical day in the life of Bill.

Use the information to answer the questions that follow.

NOTICE: Don’t forget the Bonus question on the bottom of the page!

Are there any questions?

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 16

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Education Matters

Which education level has the opportunity to earn the highest income?

Education Level Type of WorkU.S. Average

Income (2007)

Not high school graduate

Job $33,913

High school graduate

Job, occupation $46,938

Associate degreeJob, occupation,

career$64,537

College degreeJob, occupation,

career$88,948

Graduate degreeJob, occupation,

career$115,179

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 17

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Education vs. Income Tower Activity

Goal: Build the tallest free-standing tower using only the given supplies.

Challenge: Each group has a different education level with certain skills/limitations.– High School dropout– High School graduate– Associate degree– College degree– Graduate degree

Solution: Work together and good luck!

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 18

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Education vs. Income Tower Activity Directions

High School Dropout: Team members can use one hand only, the other must be kept behind their back and all communication must be done nonverbally to represent limited skills and education.

High School Graduate: Team members can use one hand only and the other must be kept behind their back.

Associate degree: Team members have full use of their hands but all communication must be done nonverbally.

College degree: Team members have full use of their hands and the team must designate one person only who can talk. The others must communicate nonverbally.

Graduate degree: Because these individuals have obtained the highest level of education, they have no limitations when building a tower.

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 19

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Education vs. Income Tower Activity Discussion

Which group had to work the hardest to build the tower? Why?

Why were some groups more successful than others?

How did the education level relate to the degree of the assigned limitations?

How might a person get the “skills” needed for the opportunity to have a career and earn a higher income?

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 20

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Standard of Living

A standard of living is the minimum necessities thought to be essential– Millionaire – fancy food, mansion, new car– College student – instant soup, small

apartment, used car Need – essential items required for life

– Food, water, shelter Want – unnecessary but desired items

– iPod, car, designer clothes

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 21

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Well-being

The state of being happy, healthy, and prosperous

Impacted by:– How money is gained– Career choice– How money is spent

Personal financial choices can affect an individual or entire family’s overall well-being

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 22

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Think Ahead

Identify a desired standard of living at an early age to determine:– Level of education needed– Type of job to have– Desired career path– Future needs and wants– Income level

What do you want to be when you grow up?

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© Family Economics & Financial Education – Revised March 2010 – Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 23

Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

Fertilize your Future

Plan NOW for your desired standard of living…

Education helps a person reach their financial goals

OR OR