Moving out on your own into ‘the real world’ is one of the biggest steps you will take in your life.
That is why teenagers need to be prepared for the responsible role of an adult.
But, schools aren’t helping as much as they should be.
Today, teenagers are coming out of high school not even knowing what a credit score is!
What happens to your credit standing if you don’t pay your rent on time?
Did you know that dressing incorrectly can hurt your image when applying for a job? Even as a barista at Starbucks!!
Some of you may be sitting there thinking “I don’t have to worry about this, my mommy and daddy are going to pay everything for me and make sure that nothing happens.”
Reality Check
Yes, mommy and daddy may be paying for everything and you have a free ride to college or a free apartment, etc., but mom and dad won’t always be there to hold your hand. There will come a day when you have to actually know this stuff and why wait till it is too late?
It’s okay if you have to start out flipping burgers at McDonald’s… most teenagers after high school end up working at places like McDonald’s until they finish their degree or until they can find a better job.
When choosing your career, keep this in mind—You will spend around 86,000 hours of your life working… would you really want to spend 86,000 hours doing something you don’t enjoy?
Make sure that the career that you choose is not only something you enjoy doing, but you can make enough money to pay bills, save money, and still maintain the quality of life you will need.
Federal Income Tax- is a system overseen by the IRS which collects money based on your earned income
- as you likely already know, your federal income tax return must generally be filed by April 15 of each year
FICA-Medicare -federal Insurance Contributions Act. (Not deducted from student wages based on enrollment status). This is a flat percentage based on your taxable income.
State income tax -an income tax in the United States that is levied by each individual state
FICA-Social Security – a mandated supplemental retirement system in the US that was established in 1935 as part of Roosevelt's New Deal.
-Social Security is funded out of payroll taxes; that is, a certain percentage of a worker's paycheck goes directly into the Social Security fund to help provide benefits to current Social Security recipients.
This is only a piece of useful information that is important of your ‘real world’ knowledge.
I know you probably here this stuff about your career all the time, even more now if you are a junior or senior.
Make sure you are prepared and ready to take on the ‘real world’ challenges.
Visit my section on the wiki to help prepare yourself before you step into the dark.
Works Cited
http://flippingburgersandbeyond.blogspot.com/2008/06/parental-responsibility-for-teens-over.html
http://www.chadfoster.com/TPFRW/Samples/sample3.htm
http://www.quizlaw.com/what-is-federal-income-tax/
http://ais-ss.usc.edu/empldoc/faq/faq5.html
http://www.cbsnews.com/stories/2008/04/12/earlyshow/living/money/main4011113.shtml
http://www.wisegeek.com/what-is-social-security.htm
