Personal Finance Chapter 1. © EMC Publishing, LLC Sources of Income Vary.
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Transcript of Personal Finance Chapter 1. © EMC Publishing, LLC Sources of Income Vary.
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Personal Personal FinanceFinance
Chapter 1Chapter 1
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© EMC Publishing, LLC
Sources of Income Vary
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© EMC Publishing, LLC
• Wages – hourly
• Salaries – annual
• Tips – in addition
• Commissions – % of sales
Sources of IncomePersonal
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• Sole proprietorship – all profits
• Partnership – shared profits
• Corporation – shared profits
Sources of IncomeBusiness – Entrepreneur
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• Stocks – dividend
• Bonds – interest
• Real estate – rent
Sources of IncomeInvestment
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• Social Security – retirement
• Financial aid – college
• Medicare/Medicaid – health
• Unemployment – insurance
• Assistance – family security
Sources of IncomeGovernment
Social Security poster 1937
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• Grants – research
• Royalties – artists/writers
• Inheritance – relatives
Sources of IncomeOther
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© EMC Publishing, LLC
Which one of the following is not a source of income?
A. Wages from a job
B. Social Security from the government
C. Commissions on sales a person made
D. Taxes a person pays to the government
E. Profit from owning a stock
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© EMC Publishing, LLC
Which one of the following is not a source of income?
A. Wages from a job
B. Social Security from the government
C. Commissions on sales a person made
D. Taxes a person pays to the government
E. Profit from owning a stock
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• Daydream
• Make a self-assessment• Gather career info
(Click to visit http://fin.emcp.net/careerclusters)
• Set a realistic goal
• Make a decision
• Outline a plan of action
Your Career Your Identity
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• What types of jobs are available in your community? Might you have to move to find your preferred job?
• Which matters more to you: salary or job satisfaction? Can you have both?
• Do you know your preferred career? Do you have a plan of action?
What do you think?Discussion
© EMC Publishing, LLC© EMC Publishing, LLC
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Finding a JobSearch Activities
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Finding a JobSearch Activities• Networking
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Finding a JobSearch Activities• Networking
• Professional and trade organizations
International Association of Tradespeople
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© EMC Publishing, LLC
Finding a JobSearch Activities• Networking
• Professional and trade organizations
• Job/career fairs
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• Networking
• Professional and trade organizations
• Job/career fairs
• Traditional sources– Newspaper want ads
– Employment agencies
– Cold contacts/direct mail
Finding a JobSearch Activities
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© EMC Publishing, LLC
Finding a JobSearch Activities• Networking
• Professional and trade organizations
• Job/career fairs
• Traditional sources
• Internet– Portal
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Finding a JobSearch Activities• Networking
• Professional and trade organizations
• Job/career fairs
• Traditional sources
• Internet– Corporate career center
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Finding a JobSearch Activities• Networking
• Professional and trade organizations
• Job/career fairs
• Traditional sources
• Internet– Online job sites
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Your Job SearchOrganizing the Search
• Computer
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Your Job SearchOrganizing the Search
• Computer
• Small notebook
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© EMC Publishing, LLC
Your Job SearchOrganizing the Search
• Computer
• Small notebook
• Job lead cards
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Your Job SearchApplying for a Job
• Job application– Personal data sheet
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Your Job SearchApplying for a Job
• Job application– Form
• Typewritten (if possible)
• Neat, legible, no blanks (write “NA” if a question is “not applicable”)
• Spelled correctly!
(advance to see sample)
Smith John Adam
200 W. Main Street Friendly GA 30301
800 555-1212 NA
Clerk Immediately
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Your Job SearchApplying for a Job
• Job Application
• Social Security card
• Work permit – under age 16/18
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Your Job SearchApplying for a Job• Job application
• Social Security card
• Work permit – under age 16/18
• Résumé
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© EMC Publishing, LLC
Your Job SearchApplying for a Job• Job application
• Social Security card
• Work permit – under age 16/18
• Résumé
• Electronic résumé – Use keywords
(advance to see sample)
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© EMC Publishing, LLC
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© EMC Publishing, LLC
Your Job SearchApplying for a Job
• Job application
• Social Security card
• Work permit – under age 16/18
• Résumé
• Electronic résumé
• Cover letter
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What do we call the summary of a job applicant’s personal information, education, skills, work experience, and special interests?
A. Work permit
B. Résumé
C. Portal site
D. Career fair
E. Networking
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© EMC Publishing, LLC
What do we call the summary of a job applicant’s personal information, education, skills, work experience and special interests?
A. Work permit
B. Résumé
C. Portal site
D. Career fair
E. Networking
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© EMC Publishing, LLC
• First impressions matter (dress nicely).
• Go alone (don’t bring a friend).
• Bring a personal data sheet.
• Be well prepared
(research the company/job).
• Don’t be late!
Finding a JobInterviewing – Preparation
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• Smile and make eye contact.
• Answer questions thoughtfully.
• Handle illegal questions smartly.
• Ask good questions.
• When it’s over, go!
• Write a thank-you letter.© EMC Publishing, LLC
Finding a JobInterviewing Tips
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• What concerns you the most about an interview?
• Be prepared for the “What is your greatest weakness?” question. What are some good answers?
• Do you have your own tips for interviewing?
What do you think?Discussion
© EMC Publishing, LLC© EMC Publishing, LLC
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• Some employers give prospective employees tests such as these:– Aptitude
– Skills
– Psychological
– Personality
– Medical/drug© EMC Publishing, LLC
Finding a JobPre-employment Testing
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• Used by some employers– Fair Isaac Corporation score (range 300–850;
average in United States about 680)
• Can be a disadvantage for young people without credit history
• Get free annual report (click to visit http://fin.emcp.net/annualcreditreport)
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Finding a JobCredit Testing
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Which of the following is not a good tip for a job interview?
A. Prepare in advance.
B. Answer questions thoughtfully.
C. Ask good questions.
D. Bring a friend for support.
E. Smile and make eye contact.
© EMC Publishing, LLC
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A. Prepare in advance.
B. Answer questions thoughtfully.
C. Ask good questions.
D. Bring a friend for support.
E. Smile and make eye contact.
© EMC Publishing, LLC
Which of the following is not a good tip for a job interview?
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