Income and Careers

Income and Careers

Vault Lesson 2

Job•Work you do for money

Job

Career•Something you build by going to school and working jobs related to the career you want

You should pursue a career–based on your interests and talents, not

what makes you the most money or comes the easiest to you.

Career

Veterinarian– Would be a good choice for someone

who likes animals

Banker– Would be a good choice for someone

who likes numbers and math

Web Designer– Would be a good choice for someone

who likes art

Career Examples

People who have jobs and are paid by the hour earn wages. •Wages

–Payment for work, usually calculated on an hourly, daily, or piecework basis and paid on schedule – usually every week, two weeks, or month

Sources of Income

People who have jobs and are paid by the hour earn wages. Cashiers at WalMart are hourly employees. Full time hourly employees

–usually work 40 hours a week–get paid for every hour they work–are not allowed to work more than 40 hours a week without being paid overtime–get paid sick leave

Full time Hourly Employees

People who have jobs and are paid by the hour earn wages. Cooks at McDonalds are hourly employees. Some may be part time employees. Part time employees

–usually work less than 40 hours a week–get paid a wage–DO NOT get paid sick leave

Part time Hourly Employees

People who have jobs and are paid a set amount to get the job done regardless of the number of hours they have to work earn a salary.

•Salary–Payment for work, represented as a yearly sum and paid in portions every week, two weeks, or month including sick time and vacation time

Sources of Income

People who have jobs and are paid a set amount to get the job done regardless of the number of hours they have to work earn a salary. Teachers are salary employees. Salary employees

–Are expected to work until the job is complete–Get paid the same amount regardless of how many hours they work

Salary Employees

Someone your age can earn money. Ways for middle school students to earn money include:

•Washing Cars•Babysitting•Walking Dogs•Shoveling snow for neighbors

Income for Students

People can earn money in different ways. Sources of income include

•Wages

•Salary

•Money gifts

Sources of Income

Entrepreneur•A person who starts his or her own business

•An entrepreneur owns their own business and works for themselves.

•Examples:•Plumbers•Electricians•Anyone who works for themselves

Entrepreneur

Taxes–Fees placed on income, purchases, or property to support government programs

Taxes

Income Tax–Annual tax placed on money employees make at jobs and collected by the federal government, most states, and some local governments–Used to pay for

•Roads•Parks•Schools

Types of Taxes

Sales Tax–A fee added to the sticker price of an item that is paid to the state or city–tax placed on purchases

Sales tax is NOT the same everywhere. It depends on where you live

–Sales tax in Raleigh is higher than the sales tax in Wallace.–Sales tax in North Carolina is not the same as the sales tax in South Carolina.

Types of Taxes

Property Tax–A fee paid on things you own like a house, car, or boat.

Property taxes are paid to the city and county you live in.

–If you live in Rose Hill, you pay property taxes to Rose Hill and Duplin County.–If you live in Beulaville, you pay property taxes to Beulaville and Duplin County.

Types of Taxes

• http://vault.everfi.net

•Use the link above to go to the Vault web site.• Log in• Complete Lesson 2: Income and Careers

•You might want to review this PowerPoint before you take the 10 question post assessment for this lesson.