1. DO NOW: In your notes, write down 5 reasons why people work.

2. WHY DO WE WORK? Wants Vs. Needs

3. What is Work? Is work something people do simply to earn money, or is it something much more?Is work something people do simply to earn money, or is it something much more? The word work is more general than “job” – whereas “job” is a specific occupation/profession, “work” refers to general efforts and activities done to accomplish a goal. “Work” can be done both inside an official job and outside a job! You can say you work at / for (a company): “I work at General Motors.” You can say you’re working on (a project / task): “I’m working on a market analysis” or “I’m working on improving customer satisfaction.” You can say you work with (people / objects): “I work with special needs children” or “I work with hazardous chemicals.”

4. Jobs and Careers A job is work that people do for pay. A job is work that people do for pay. A career is built on a foundation of interest, experience, knowledge, and training. A career is built on a foundation of interest, experience, knowledge, and training. Experience working at different jobs can help you decide on a career path.Experience working at different jobs can help you decide on a career path.

5. Why People Work People work to earn money to pay for : HousingTransportationFoodClothes Health Care InsuranceEducationTaxesRecreation

6. Why People Work People also work because they want to be with other people. People also work because they want to be with other people. They may enjoy being in an environment with people who share the same interests. They may enjoy being in an environment with people who share the same interests.

7. Why People Work Self-fulfillment is another reason why people work. Self-fulfillment is another reason why people work. Working at a job that suits them gives them a feeling of accomplishment. Working at a job that suits them gives them a feeling of accomplishment.

8. Impact on Lifestyle Your work can determine how much time you have to spend with friends and family and how much money you have to pursue your favorite activities.Your work can determine how much time you have to spend with friends and family and how much money you have to pursue your favorite activities.

9. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 9 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 VALUES, NEEDS & WANTS Part 2

10. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 10 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 WHAT IS A VALUE? A value is a fundamental belief or practice about what is desirable, worthwhile, and important to an individual Family Good health Financial security A successful and/or satisfying career Honesty Helping others Religious commitment Education What are examples of values?

11. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 11 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 VALUES What influences a person’s values? Religious affiliations Family Teachers Friends Law Media Work/ Career Life Experiences Are your values the same as the person sitting next to you?

12. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 12 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 VALUES Values guide a person’s needs, wants, and goals Values, needs, wants, and goals influence a person’s daily decisions Decisions affect an individual’s financial situation

13. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 13 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 NEEDS vs. WANTS A need is something thought to be a necessity or essential items required for life Examples of needs: Food Water Shelter Examples of wants: Car stereo MP3 player Designer clothes A want is something unnecessary but desired or items which increase the quality of living

14. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 14 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 NEED OR WANT? YOU DECIDE! Clothing Going to the movies Going out to eat A place to live A car/truck A computer Owning an iTouch Cell phone Owning a vacation home Food Everyone has different interpretations of needs and wants. This is based on… their personal values!

15. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 15 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 WHAT IS A GOAL? A goal is defined as the end result of something a person intends to acquire, achieve, do, reach, or accomplish sometime in the near or distant future Identifying goals makes decision making easier

16. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 16 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 SMART GOALS SMART Goals Specific State exactly what is to be done Measurable Include how the goal can be measured Attainable Determine steps to reach the goal Realistic Do not set goals for something unrealistic Time Bound State when the goal will be met Financial and education goals should be SMART goals

17. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 17 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 SMART EDUCATIONAL GOAL Goal – “I want to attend college.” SMART goal – – Specific – I want to attend a four year college – Measurable – Because I want to attend a four year college, I will earn a B in algebra – Attainable – Because I want to attend a four year college, I will earn a B in algebra this semester – Realistic – Because I want to attend a four year college, I will earn a B in algebra this semester to prepare me for the college entrance exam – Time Bound – Because I want to attend a four year college, I will earn a B in algebra this semester to prepare me for the college entrance exam when I am a junior in high school

18. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 18 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 SMART FINANCIAL GOAL Goal – I want to buy a new car SMART goal – – Specific – I plan to save for a down payment on a new car – Measurable – I plan to save $5,000 for a down payment on a new car – Attainable – I plan to save $5,000 for a down payment on a new car by saving $200 from every paycheck – Realistic – It is realistic to save $200 from each paycheck for a down payment on a car because I usually waste the money on unnecessary items instead of saving it – Time Bound – I plan to save $5,000 for a down payment on a new car by saving $200 from each paycheck for two years.

19. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 19 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 SUMMARY A value is a fundamental belief or practice about what is desirable, worthwhile, and important to an individual A need is something thought to be a necessity or essential items required for life. Examples include food, water, and shelter A want is something unnecessary but desired or items which increase the quality of living A goal is defined as the end result of something a person intends to acquire, achieve, do, reach, or accomplish Values Wants GoalsNeeds

20. © Family Economics & Financial Education –September 2010– The Essentials to Take Charge of Your Finances– Values, Needs, Wants, and Goal Setting Essentials– Slide 20 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona 7.17.2.G1 SUMMARY Goals should be written down as SMART goals – Specific, measurable, attainable, realistic, and time bound