2. Show me the Money!!! People typically have revenues from up to three sources:People typically have revenues from up to three sources: a) Allowance (obvious) c) Salary (regular remuneration) b) Investment (more complex)

3. Show me the Money!!! investment income (capital gains, interest, dividends) is affected by the amount investedinvestment income (capital gains, interest, dividends) is affected by the amount invested What factors influence the level of wage or salaries you can expect toWhat factors influence the level of wage or salaries you can expect to

4. Show me the Money!!! Level of education and trainingLevel of education and training Level of supply and demand for the job (Doctor, “Garbage Man”)Level of supply and demand for the job (Doctor, “Garbage Man”) Quality of your personal performance (work habits, results, etc..)Quality of your personal performance (work habits, results, etc..)

5. Show me the Money!!! Success of the businessSuccess of the business Years of experienceYears of experience The state of the economy (out of your control)The state of the economy (out of your control) Success of labour negotiations (if in a union)Success of labour negotiations (if in a union)

6. I Work for Money and ??? When you work as an employee you may receive a number of other benefits from your employerWhen you work as an employee you may receive a number of other benefits from your employer A “Benefit Package” can include some of the following:A “Benefit Package” can include some of the following:

7. I Work for Money and ??? Paid vacation days AND holidaysPaid vacation days AND holidays Paid sick daysPaid sick days Extended health care (dental, medical, eye care, etc…)Extended health care (dental, medical, eye care, etc…) Life – disability insuranceLife – disability insurance

8. I Work for Money and ??? Pension plans (company, CPP)Pension plans (company, CPP) Parental leaveParental leave Stock options / bonusesStock options / bonuses Employee discountsEmployee discounts Employers health tax (OHIP)Employers health tax (OHIP)

9. Common Payroll Deductions INCOME TAXINCOME TAX The more you make the higher the percentage you payThe more you make the higher the percentage you pay Goes to gov’t expenditures (education, health care, welfare, transportation, etc…)Goes to gov’t expenditures (education, health care, welfare, transportation, etc…)

10. Common Payroll Deductions EMPLOYMENT INSURANCE (EI)EMPLOYMENT INSURANCE (EI) Fixed amount off cheque used to cover those currently on EIFixed amount off cheque used to cover those currently on EI And…in the event you need EIAnd…in the event you need EI

11. Common Payroll Deductions CANADA PENSION PLAN (CPP)CANADA PENSION PLAN (CPP) An amount the gov’t takes and puts towards your retirementAn amount the gov’t takes and puts towards your retirement Receive at age 65Receive at age 65

12. Common Payroll Deductions UNION DUESUNION DUES Only if you are IN a unionOnly if you are IN a union $$$ goes towards union costs (salaries, meetings, etc…)$$$ goes towards union costs (salaries, meetings, etc…)

13. Common Payroll Deductions PRIVATE PENSION PLANPRIVATE PENSION PLAN You (or your employer) may remove money for a separate pension (ex. = teachers, nurses, etc…)You (or your employer) may remove money for a separate pension (ex. = teachers, nurses, etc…)