Understanding Job and Career Choices for Your Future
Explore the distinction between a job and a career, consider your future aspirations, and delve into the significance of financial planning through engaging exercises on cost of living and budgeting. Delve into examples and concepts to guide your decision-making for a prosperous future.
Download Presentation
![](/assets/img/so-down.gif)
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
COST OF LIVING EXERCISE Budgeting
Job or Career? Have you thought about where you want to be 5 or 10 years from now? Ask yourself questions. What kind of lifestyle do you want? Where do you want to work? Small office? International corporation? Where do you want to live? Big city, small town or rural area? Do you want to travel? You will make one choice that will determine all of these things for you your job.
Job or Career? A job is one place of employment and can be found anywhere. What is the difference between a job and a career? A career is a chosen occupation that typically requires advanced education.
Job or Career What are some examples of jobs? Careers? What is the difference between a job and a career? Are there differences in the amount of education? Do you have to go to college to have a career? Is there a difference in salary?
Job or Career? Which of these is a job and which is the beginning of a career? Examples You graduate from high school and begin to work full-time at a fast-food restaurant. You go to college and discover you love business and graduate with a degree in accounting. You begin working at a medium-sized accounting firm and study for the CPA exam.
Cost of living/budgeting You now know the difference between a job and a career. Let s talk about money. Which one do you think is likely to pay more? Why do you think this is important?
Cost of living/budgeting For an example, let s pretend you have graduated high school and went to work full-time in a fast food restaurant. You want to live on your own. Let s figure out if you make enough money. Let s pretend.
Cost of living/budgeting What is the minimum wage? $7.25/hour How many hours is full-time? 40 hours per week Multiply $7.25 by 40 hours per week to see what you would earn in one week from the fast- food job. $290.00/week Now multiply that amount by four weeks in the month. $1,160.00/monthly How much do you need?
Cost of living/budgeting Not bad, but do you get to keep all that money? How much do you need? Taxes have to be paid on our earnings. We will be generous today and only take out $100 for taxes. How much does that leave? $1060.00.00/monthly Now that you have made your money, let s figure out how to spend it.
Cost of living/budgeting Where will you need to spend your money every month? Place to live Car Gasoline Electricity Food Telephone Insurance Clothes Entertainment Expenses
Cost of living/budgeting What kind of home will you live in? Apartment, a regular house or a mansion? Housing Let s look at homes first.
Cost of living/budgeting How much do you think a three bedroom home in a safe neighborhood costs per month? Houses The average cost for a three-bedroom home in Texas is $1,800/month. Do you make enough?
Cost of living/budgeting How much is the rent for an average two-bedroom apartment in a big city like Dallas? Apartments You can easily pay $1,000-$1,800 per month. Do you make enough?
Cost of living/budgeting What type of car would you like to drive? Car
Cost of living/budgeting You don t have much left over from your fast-food salary, do you? How much is left? We haven t even begun to talk about electricity, telephone, insurance, clothes, much less your entertainment expenses. It is expensive to live on your own, isn t it? It is hard to buy everything you want when you re working on minimum wage.
Cost of living/budgeting Going to college will give you a chance at a career that will provide you with a good salary and security. College A possible career option is accounting. A career in accounting offers you things a job cannot give you like a good salary, opportunities for advancement, respect, and the ability to make a difference in your community.