Salary and Wages

Spending Money We looked at spending money at a store We had a budget that we were not supposed to go over Were we able to get Joey’s camping gear? Were we able to buy all the things for Stacy’s apartment? Were we able to buy all of Greg’s groceries? Were we able to STAY ON BUDGET? What do you think would happen if there was not enough money to buy all the good on one of those lists?

Earning money Why do you need MONEY? How do you get MONEY? What does the word EARN mean? What do the words WORK or WORKING mean? Are EARNING and WORKING CONNECTED? HOW are EARNING and WORKING connected? In order to work, what do you need? So WORKING at a job allows you to EARN MONEY…?

Salary & Wage What is a salary and how do you get one? What is a wage and how do you get one? Salary usually means how much money you make in a week, month or year at you JOB You might be paid the same every week or you might earn wages at your JOB Wages  how much you make per hour What does paid by the hour mean? This means being paid a certain amount of mean for each hour of work

Paid by the Hour AMOUNT OF MONEY YOU MAKE PER HOUR AMOUNT OF hours YOU work HOW MUCH MONEY YOU MADE THAT WEEK OR 2 WEEKS

Example John earns $12.00 per hour at his part time job at the hockey rink John worked 15 hours last week How much money did John EARN last week? ANSWER: $12.00 per hour 15 HOURS OF WORK $ EARNED LAST WEEK

Example 2 Cathy makes $13.00 per hour at her job at the swimming pool. – During the moth of July she worked: – 7 hours the first week – 12 hours the second week – 17 hours the third week – 25 hours the fourth week How much money did Cathy make during the month of July? HINT: add the TOTAL number of hours worked first

Example 3 Tim works hard in the summer. He has 2 jobs in the summer. During the day, Tim works at a day camp and he makes $10.00 per hour. In the evening, Tim works at a pizza restaurant and he makes $14.00 an hour.

Example 3 During the month of June, Tim worked: WEEK 1: 20 hours at the day camp and 9 hours at the pizza restaurant WEEK 2: 27 hours at the day camp and 17 hours at the pizza restaurant WEEK 3: 25 hours at the day camp and 14 hours at the pizza restaurant Week 4: 30 hours at the day camp and 12 hours at the pizza restaurant HOW MUCH MONEY DID TIM EARN IN THE MONTH OF JUNE?

Budgets We looked at what a budget is for going to buy things at a store What other times would you use a budget? Try to think of one time where you may want to use a budget.