Influences on Influences on IncomeIncome

Standard 2Standard 2

Objective 1Objective 1

BrainstormBrainstorm

Use a “spider map” to see Use a “spider map” to see how many sources of how many sources of income you can think of.income you can think of.

Sources ofIncome

Sources of IncomeSources of Income

Wages and Wages and Salaries/AllowancesSalaries/Allowances

Investment IncomeInvestment Income Self-employmentSelf-employment InheritanceInheritance GiftsGifts AwardsAwards Lottery!Lottery!

Employee benefits –Employee benefits – The benefits offered and paid The benefits offered and paid

in part by employers.in part by employers.

Common Employee Common Employee BenefitsBenefits

Paid Vacation HolidaysPaid Vacation Holidays Paid Sick DaysPaid Sick Days Health InsuranceHealth Insurance Disability Income InsuranceDisability Income Insurance Life InsuranceLife Insurance Dental/Vision InsuranceDental/Vision Insurance Profit SharingProfit Sharing

Common Employee Common Employee BenefitsBenefits

Payroll Savings PlanPayroll Savings Plan Stock Option PurchaseStock Option Purchase Registered Pension PlanRegistered Pension Plan Retirement PlanRetirement Plan Tuition ReimbursementTuition Reimbursement Travel ExpensesTravel Expenses Spouse BenefitsSpouse Benefits Access to Financial AdviceAccess to Financial Advice

Factors the Affect IncomeFactors the Affect Income

the level of education, training, and the level of education, training, and experience that is required to do a particular experience that is required to do a particular jobjob

the level of demand that exists for the type the level of demand that exists for the type of labor you are skilled/trained/educated to of labor you are skilled/trained/educated to provideprovide

the number of others who have similar or the number of others who have similar or better skills who can compete for the jobbetter skills who can compete for the job

how good you are at what you dohow good you are at what you do how long you have been working — your how long you have been working — your

experience, your seniorityexperience, your seniority your work habits, reliabilityyour work habits, reliability the state of the economythe state of the economy

Economic ConditionsEconomic Conditionshave a great influence on how consumers spend money.have a great influence on how consumers spend money.

Consumer PricesConsumer Prices Consumer SpendingConsumer Spending Interest Rates Interest Rates