STARTER Choose one below to complete: Would you like to work in a job that may require you to work overtime? Why or why not? Write at least 4 sentences explaining your choice. Brainstorm the skills and personality traits a salesperson should possess. Are you interested in working for commission?

How to Know What You’re Worth Day 3 – Balance Sheets and Annual Income Statements

ASSETS What you currently own that is of worth.

LIABILITIES What you currently owe.

INCOME Money that you make over a specified time.

EXPENDITURES Money you will spend or have spent over a specified time.

Mary has compiled all of her records to determine her current financial status. Sort each item into the category of asset, liability, income, or expenditure. ITEM AMOUNT ($) CATEGORY Current Discover Card Bill Owed 5,300   Current MasterCard Bill Owed 550 Savings Account 3,250 Monthly paycheck, net 2,177 Car 12,000 Car Loan Balance 8,000 Monthly Car Payment 265 Checking Account Balance 800 Furniture 2,020 401 (k) retirement fund 6,500 Annual Medical expenses 1,000 Stocks 4,254 Monthly Health Insurance Premiums 366 Monthly Cell Phone Bill 53

Annual Income Statement “Financial Motion Picture” Tells where your money has come from and where it goes using your income and expenditures.

Balance Sheet “Financial Snapshot” Gives your financial position on a given moment using your assets and liabilities.

Net Worth Comes from your Balance Sheet and measures your wealth. Can be negative. Formula: Assets – Liabilities