get ready to take charge of your finances does money grow on trees?
TRANSCRIPT
Get Ready to Take Charge of Your Finances
Does Money Grow on Trees?
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 2Funded 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?
Working
Gifts
Allowance
Bonus
Interest
Fundraising
Scholarships Borrowing
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 3Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Working
Most common form of earning
money
Work for pay at various jobs and
occupations
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 4Funded 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?
A specific task done as a part of the routine of one’s occupation
Examples:– Stocking shelves at a grocery store– Taking a patient’s blood pressure– Teaching students how to add numbers
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 5Funded 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 a teacher?
Job
Job
Job Jo
b
Job
Teacher
Tutoring in an after school program
Leading a
youth group Teaching a math lesson
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 6Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Mind Mapping
Electrician
Meeting with
clients
Wiring a new
house
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 7Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Your Turn!
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 8Funded 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
Many different factors influence and help build a person’s career
Jobs
Occupations
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 9Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Human Capital Process of self-investment
– Working – Going to school– Volunteering
Self-investment is crucial to building a career
Identify one form of self-investment that you have
completed.
Identify one form of self-investment that you have
completed.
Jobs
Occupations
Human Capital
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 10Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Transferable Skills Skills acquired through
the process of self-investing
– Ability to follow orders– Organization– Ability to communicate
clearly
Lead to future career success
What are two transferable skills you
have acquired?
What are two transferable skills you
have acquired?
Jobs
Occupations
Human Capital
Transferable Skills
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 11Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
What other factors could influence a
career?
How are you currently
building your career?
How are you currently
building your career?
Jobs
Occupations
Human Capital
Transferable SkillsEducation
Family/ Friends
Leisure ActivitiesThese factors work
together to create a career
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 12Funded 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
Are there any questions?
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 13Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Why would a person want to build their career?
Building a career
Self-investment
(gaining education,
skills, experiences)
Opportunity to earn more
money
Build your career to earn money!
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 14Funded 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
If you desire a higher standard of living, then consider expanding your career by self-investing!
Earning more
money
Opportunity to live at
standard of living
desired
Minimum necessities, comforts, or
luxuries thought to be
essential
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 15Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Education Matters Form of self-investment Increases career, occupation, and job opportunities Generally:
EducationIncome Earning Ability
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 16Funded 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 levelU.S. median income for
each education level (2009)
Examples of occupations that require each education level
housekeeper, cashier$23,608
bus driver, home health aide$32,552
$36,348cosmetologist, fitness
instructor
High school graduate
Vocational training- no degree
Not high school graduate
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 17Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Education Matters (cont.)
Education levelU.S. median income for
each education level (2009)
Examples of occupations that require
each education level
2-Year degree (Associate Degree)
4-Year Degree (Bachelor’s Degree)
Master’s Degree
Professional or Doctorate Degree
paralegal, dental hygienist
teacher, engineer, accountant
physical therapist, psychologist
$39,572
$53,300
$65,364
$79,664 attorney, physician, veterinarian
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 18Funded 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– Bachelor’s degree– Doctorate degree
Solution: Work together and good luck!
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 19Funded 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– Can use one hand only, the other must be kept behind their back and all
communication must be done nonverbally High School Graduate
– Can use one hand only and the other must be kept behind their back Associate degree
– Have full use of their hands but all communication must be done nonverbally
Bachelor’s degree– Have full use of their hands but the team must designate one person
only who can talk; others must communicate nonverbally Doctorate degree
– Have no limitations
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 20Funded 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 add to their occupational level and earn a higher income?
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 21Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
Build your career for overall well-being!
Because people spend a large amount of their life working for pay
Well-being is affected by a person’s career
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 22Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
What else would motivate a person to self-invest and build a
career?
Satisfaction from building and improving skills and knowledge
What would motivate you to self-invest and build your career?
What would motivate you to self-invest and build your career?
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 23Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
How will you create money on your tree?
Fertilize Your Future!Begin self-investing and building your career now!
– Reach the standard of living you desire– Ensure you are completing the jobs and occupations you
desire = high level of well-being
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© Family Economics & Financial Education – Revised April 2011– Get Ready to Take Charge of Your Finances – Does Money Grow on Trees? – Slide 24Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona
What do you want to be when you grow up?
What standard of living do you desire? What income level do you desire? What education level are you willing to obtain? Where do you want to live?
The answers to these questions may help you determine how to self-invest!