Understanding Job and Career Choices for Your Future

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COST OF LIVING EXERCISE
 
Budgeting
 
Job or Career?
Ask yourself
questions.
 
Have you thought about where you want to be 5
or 10 years from now?
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?
What is the
difference
between a job
and a career?
 
A job is one place of employment and
can be found anywhere.
A career is a chosen occupation that
typically requires advanced education.
 
Job or Career
What is the
difference
between a job
and a career?
 
What are some examples of jobs?
Careers?
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?
Examples
 
 
Which of these is a job and which is the
beginning of a career?
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.
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Cost of Living/Budgeting Exercise
 
Cost of living/budgeting
Let’s talk
about money.
 
You now know the difference between a
job and a career.
Which one do you think is likely to pay
more?
Why do you think this is important?
 
Cost of living/budgeting
Let’s pretend.
 
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.
Cost of living/budgeting
How much do
you need?
 
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
Cost of living/budgeting
How much do
you need?
 
Not bad, but do you get to keep all
that money?
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
Expenses
 
Where will you need to spend your
money every month?
Place to live
Car
Gasoline
Electricity
Food
Telephone
Insurance
Clothes
Entertainment
 
 
Cost of living/budgeting
Housing
 
What kind of home will you live in?
Apartment, a regular house or a
mansion?
 
Let’s look at homes first.
Cost of living/budgeting
 
Houses
 
How much do you think a three
bedroom home in a safe neighborhood
costs per month?
 
 
 
The average cost for a three-bedroom
home in Texas is $1,800/month.
Do you make enough?
Cost of living/budgeting
Apartments
 
How much is the rent for an average
two-bedroom apartment in a big city
like Dallas?
 
 
 
You can easily pay $1,000-$1,800 per
month.
Do you make enough?
Cost of living/budgeting
Car
 
 
 
What type of car would you like to
drive?
 
Cost of living/budgeting
How much is
left?
 
You don’t have much left over from your
fast-food salary, do you?
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
College
 
Going to college will give you a chance
at a career that will provide you with a
good salary and security.
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.
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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.


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  1. COST OF LIVING EXERCISE Budgeting

  2. 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.

  3. 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.

  4. 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?

  5. 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.

  6. Cost of Living/Budgeting Exercise

  7. 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?

  8. 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.

  9. 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?

  10. 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.

  11. 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

  12. 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.

  13. 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?

  14. 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?

  15. Cost of living/budgeting What type of car would you like to drive? Car

  16. 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.

  17. 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.

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