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.