1. Chapter 4 What Cost This Lifestyle? Every career choice involves sacrifices and rewards

2. Chapter Four Vocabulary List privacy: free from unwanted intrusion; seclusion commitment: a promise or pledge to do something profile: the amount to which someone demonstrates specific traits as arrived at through inventories or tests widow: a woman whose husband has died and who, generally, has not remarried aristocrat: a member of the aristocracy; a nobleman affordability: the point at which a person can manage to buy something variable: susceptible to changes; likely to vary extensive: having wide or considerable extent liberal: generous; ample; full reallocate: to designate or earmark again poverty: having a shortage of the necessary money or material possessions for comfortable living conscious: deliberate; purposeful traits: a characteristic or quality minimum: the smallest amount possible windfall: an unexpected or unforeseen gain arrogant: overstating your own importance in a haughty way; egotistical persistence: being tenacious; determination dividends: a bonus or payoff inducement: the stimulus that motivates a person to act interpretation: explanation or definition

3. Chapter 4 Vocab (½ day) Copy vocab into workbook Complete the Crossword for the chapter Read vocab words once a night for homework  To prepare for vocab test at the end of the chapter

4. (1 day) Read pg 74-76  Ivy Elm’s Story  What did you get out of the story? Read pg 77  Workbook-Your Budget and Family Profile  Share with the class (1 day) Create a composite family budget  Average lifestyle of the class looks like…  Following slides walk through activity

5. Income Gross pay is the total amount of money you make before taxes and deductions. Net pay is the amount of money on your check after taxes and deductions  This is the money you actually get to spend Taxes vary state to state, typically it is about 20% of your income

6. Vocab Check profile: the amount to which someone demonstrates specific traits as arrived at through inventories or tests widow: a woman whose husband has died and who, generally, has not remarried aristocrat: a member of the aristocracy; a nobleman

7. Budget Family-as of now, what do you want?  Single, married, kids, etc? Housing-usually the most expensive category of your budget  Type of home, # of bedrooms, # of baths Transportation-walk, bicycle, drive, etc. Clothes-how would you shop/how expensive? (how much per family member) Food-thrifty, low-cost, moderate, or liberal Sundries-shampoo, deodorant, toilet paper, cleaning supplies, etc.

8. Class Family Profile House type: Beds:Baths: Other: Transportation: Clothing: Per family member Food: Sundries: Entertainment & Recreation: Today I am ____ years old. In ______ years, when I am _______ years old…. Marital status: ChildrenAges

9. Budget (continued) Entertainment & Recreation-eating out, movies/concerts/sporting events, magazines/newspapers/music downloads/apps Family Vacations-when and how often?  vacations are necessary for good physical and mental health Child Care-how many? both parents working? Child care? Dependant Care-parent or grandparent living w/you Health Care-part paid by employer and part your cost Furnishings-replace equipment, linens (towels and bedding), appliances/electronics, furniture, and decorative items, etc.

10. Vacations: Child care (per child): Dependant care: Health care: Furnishings: Savings: Miscellaneous:

11. Budget (continued) Savings-money put away for specific purposes (a house, new furnishings, child college fund, retirement) and emergencies (losing your job, a major illness, leak or flood, etc.)  A good rule of thumb  have 6 months of pay saved for emergencies Miscellaneous-holiday/birthday gifts, pet needs, extra curricular activities, internet, TV/Dish, cell phone, computer, etc.

12. Vocab Check liberal: generous; ample; full reallocate: to designate or earmark again poverty: having a shortage of the necessary money or material possessions for comfortable living

13. Housing Budget(1-2 days) Mortgage and interest rates Monthly payments Property taxes Homeowners insurance HOA (Homeowner’s Association Fees) Utilities Telephone Zillow.com -Find a house and all the information below -Fill out the chart in your work book

14. Car Budget New or used car? -Depending on the make of the vehicle, go to their website. Ex: Nissan Maxima -Select you options based on what you chose. Ex: New, old new, new used, old used -Used vehicles, try carmax

15. Rewards and Sacrifices In every job there are three types of rewards and sacrifices Financial (paycheck) Physical, Emotional, Psychological Commitment

16. Financial Reward Financial reward- there is a relationship between time commitment to education/training and financial reward. The more education and training you have, the better chance you have at making more money. Education/Training = more $$$$$

17. Examples of rewards and sacrifices Police officer-reward helping people, and recognition, sacrifices time with family, danger (security). Professional Athlete-reward financial (money) and recognition, sacrifices time with family, and could get hurt (security)

18. Examples of rewards and sacrifices (continued) Teacher, reward is helping others, recognition, sacrifices financial Computer Programmer, Reward creativity, sacrifices adventure

19. Vocab Check traits: a characteristic or quality minimum: the smallest amount possible windfall: an unexpected or unforeseen gain arrogant: overstating your own importance in a haughty way; egotistical persistence: being tenacious; determination

20. 21 st Century workers You will need to have a strong background in Math, Science, and Technology.

21. Finally Ability alone will not make you successful, you have to want it.