Students will understand sources of income and the relationship between income and career preparation.
Benefit |
Something the company offers besides a paycheck. |
Cafeteria-Style Benefits |
Allows workers to choose the benefits that best meet their personal needs. |
Career |
A life-work chosen by a person to use personal talent, provide some service or goods, earn money, and contribute to society. |
Career Plan |
Outlines the steps you need to take to reach your career goal. |
Cost of Living |
Cost of food, transportation, housing, and other expenses. |
Economic Conditions |
Consumer prices (inflation), consumer spending, and interest rates. |
Entrepreneur |
One who organizes, manages, and assumes the risks of a business or enterprise. |
Gross Earnings |
An individual's taxable income before any appropriate adjustments are made. |
Human Capital |
The set of skills which an employee acquires on the job, through training and experience, and which increase that employee's value in the marketplace. |
| Income | Money that a person receives; such as a paycheck from a job, an allowance from parents (inheritance), or interest earned on a savings account. |
| Income Tax | The government’s leading source of revenue (money) . |
| Insurance | A method for spreading individual risk among a large group of people to make losses more affordable for all. |
| Investment | The use of savings to earn a financial return. |
| Net Income | The difference between total revenue and total expenses when total revenue is greater. |
| Pension Plan | Retirement plan that is funded at least in part by an employer. |
| Retirement | The age at which you stop working full time. |
| Social Security | A fee collected from most employees to support this federal program, which provides old age, survivors, and disability insurance. |
| Types of Taxes | Two main types are Social Security and income taxes. |
| Uses of Taxation | To pay for the growing demand for services and needs of the government (military, police, roads, public servants, schools, social services). |
| Wage | A fixed amount of money paid to an employee for each pay period. |
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