Does Money Grow on Trees? Earning Power

Your Future How do you see your future? Draw a picture of it… How much money do you have? Where do you live? What does your house look like? Family? Vacation?

Where does Money come from? Allowance Working Bonus Fundraising Scholarships Gifts Interest Borrowing

Why Do People Work? To feel personal satisfaction To improve their skills To earn money

Not high school graduate Education Matters Which education level has the opportunity to earn the highest income? Education Level Type of Work U.S. Average Income (2011) Not high school graduate Job $25,100 High school graduate Job, occupation $35,400 Associate degree Job, occupation, career $44,800 College degree $56,500 Graduate degree $91,000

Standard of Living A standard of living is the minimum necessities thought to be essential Millionaire – fancy food, mansion, new car College student – instant soup, small apartment, used car Need – essential items required for life Food, water, shelter Want – unnecessary but desired items iPod, car, designer clothes

Well-being The state of being happy, healthy, and prosperous Impacted by: How money is gained Career choice How money is spent Personal financial choices can affect an individual or entire family’s overall well- being

Think Ahead Identify a desired standard of living at an early age to determine: Level of education needed Type of job to have Desired career path Future needs and wants Income level What do you want to be when you grow up?

Fertilize your Future OR OR Plan NOW for your desired standard of living… Education helps a person reach their financial goals OR OR

“Living on Minimum Wage” Warmth Taking the bus/walking Movie theater, buns, spending money Relationship issue (divorce) Health insurance, medical issues

Less than a high school diploma US Department of Labor Unemployment rate in 2006 Education attained Median weekly earnings in 2006 Median yearly earnings in 2006 (Percent)   (Dollars) 1.4 Doctoral degree $1,441 $74,932 1.7 Master's degree 1,140 59,280 2.3 Bachelor's degree 962 50,024 3 Associate degree 721 37,492 3.9 Some college, no degree 674 35,048 4.3 High-school graduate 595 30,940 6.8 Less than a high school diploma 419 21,788

Bureau of Labor Statistics