personal finance chapter 1. © emc publishing, llc sources of income vary

Personal Personal FinanceFinance

Chapter 1Chapter 1

© EMC Publishing, LLC

Sources of Income Vary


• Wages – hourly

• Salaries – annual

• Tips – in addition

• Commissions – % of sales

Sources of IncomePersonal


• Sole proprietorship – all profits

• Partnership – shared profits

• Corporation – shared profits

Sources of IncomeBusiness – Entrepreneur


• Stocks – dividend

• Bonds – interest

• Real estate – rent

Sources of IncomeInvestment


• Social Security – retirement

• Financial aid – college

• Medicare/Medicaid – health

• Unemployment – insurance

• Assistance – family security

Sources of IncomeGovernment

Social Security poster 1937


• Grants – research

• Royalties – artists/writers

• Inheritance – relatives

Sources of IncomeOther


Which one of the following is not a source of income?

A. Wages from a job

B. Social Security from the government

C. Commissions on sales a person made

D. Taxes a person pays to the government

E. Profit from owning a stock


• Daydream

• Make a self-assessment• Gather career info

(Click to visit http://fin.emcp.net/careerclusters)

• Set a realistic goal

• Make a decision

• Outline a plan of action

Your Career Your Identity

http://fin.emcp.net/careerclusters

http://fin.emcp.net/careerclusters

• What types of jobs are available in your community? Might you have to move to find your preferred job?

• Which matters more to you: salary or job satisfaction? Can you have both?

• Do you know your preferred career? Do you have a plan of action?

What do you think?Discussion

© EMC Publishing, LLC© EMC Publishing, LLC


Finding a JobSearch Activities


Finding a JobSearch Activities• Networking



• Professional and trade organizations

International Association of Tradespeople




• Job/career fairs


• Networking



• Traditional sources– Newspaper want ads

– Employment agencies

– Cold contacts/direct mail

Finding a JobSearch Activities





• Traditional sources

• Internet– Portal






• Internet– Corporate career center






• Internet– Online job sites


Your Job SearchOrganizing the Search

• Computer



• Computer

• Small notebook



• Computer

• Small notebook

• Job lead cards


Your Job SearchApplying for a Job

• Job application– Personal data sheet



• Job application– Form

• Typewritten (if possible)

• Neat, legible, no blanks (write “NA” if a question is “not applicable”)

• Spelled correctly!

(advance to see sample)

Smith John Adam

200 W. Main Street Friendly GA 30301

800 555-1212 NA

Clerk Immediately



• Job Application

• Social Security card

• Work permit – under age 16/18


Your Job SearchApplying for a Job• Job application



• Résumé


Your Job SearchApplying for a Job• Job application



• Résumé

• Electronic résumé – Use keywords

(advance to see sample)



• Job application



• Résumé

• Electronic résumé

• Cover letter


What do we call the summary of a job applicant’s personal information, education, skills, work experience, and special interests?

A. Work permit

B. Résumé

C. Portal site

D. Career fair

E. Networking


What do we call the summary of a job applicant’s personal information, education, skills, work experience and special interests?

A. Work permit

B. Résumé

C. Portal site

D. Career fair

E. Networking


• First impressions matter (dress nicely).

• Go alone (don’t bring a friend).

• Bring a personal data sheet.

• Be well prepared

(research the company/job).

• Don’t be late!

Finding a JobInterviewing – Preparation

• Smile and make eye contact.

• Answer questions thoughtfully.

• Handle illegal questions smartly.

• Ask good questions.

• When it’s over, go!

• Write a thank-you letter.© EMC Publishing, LLC

Finding a JobInterviewing Tips

• What concerns you the most about an interview?

• Be prepared for the “What is your greatest weakness?” question. What are some good answers?

• Do you have your own tips for interviewing?

What do you think?Discussion

© EMC Publishing, LLC© EMC Publishing, LLC

• Some employers give prospective employees tests such as these:– Aptitude

– Skills

– Psychological

– Personality

– Medical/drug© EMC Publishing, LLC

Finding a JobPre-employment Testing

• Used by some employers– Fair Isaac Corporation score (range 300–850;

average in United States about 680)

• Can be a disadvantage for young people without credit history

• Get free annual report (click to visit http://fin.emcp.net/annualcreditreport)


Finding a JobCredit Testing

http://fin.emcp.net/annualcreditreport

http://fin.emcp.net/annualcreditreport

Which of the following is not a good tip for a job interview?

A. Prepare in advance.

B. Answer questions thoughtfully.

C. Ask good questions.

D. Bring a friend for support.

E. Smile and make eye contact.


A. Prepare in advance.

B. Answer questions thoughtfully.

C. Ask good questions.

D. Bring a friend for support.

E. Smile and make eye contact.


Which of the following is not a good tip for a job interview?

personal finance chapter 1. © emc publishing, llc sources of income vary

Documents

llc emc publishing

stock emc publishing

searchcomputer emc publishing

identity emc publishing

discussion emc publishing

llcyour job search

preferred job

job satisfaction