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Investment in Yourself 1.1.9

Investment in Yourself 1.1.9. Family Economics & Financial Education Take Charge of Your Finances. Influences. Value – a fundamental belief or practice about what is desirable, worthwhile, and important to an individual.

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Investment in Yourself 1.1.9

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  1. Investment in Yourself 1.1.9 Family Economics & Financial Education Take Charge of Your Finances

  2. Influences • Value – a fundamental belief or practice about what is desirable, worthwhile, and important to an individual. • Goal – the end result of something a person intends to acquire, do, reach, or accomplish sometime in the near or distant future. • Need – something thought to be a necessity • Want – something unnecessary but desired

  3. Human Capital Human Capital – skills acquired through a process of self investment. What are examples of things you can do to increase human capital? Summer jobs Volunteer (Community Centers, Local Charities, School, Church) Extra-curricular activities Course work (Math, English, Science, and Vocational Classes) Properly prepare for ACT/PSAE

  4. Education vs. Income “Education is essential in getting a high-paying job. In fact, for all but 1 of the 50 highest paying occupations, a college degree or higher is the most significant source of education or training. Air traffic controller is the only occupation of the 50 highest paying for which this is not the case” 2004 Bureau of Labor Statistics Occupational Outlook Handbook, Tomorrow's Jobs Higher Education = Higher Estimated Lifetime Earnings

  5. Education vs. Income Activity Everyone please stand up with your colored square. “Everyone standing represents the people who started high school. This activity will show the different paths people can choose during their lifetime and the different results.” Based upon 2007 US Bureau of Labor Statistics Data

  6. Orange If you are holding an orange card please sit. These 4 people represent 15.2% of the U.S. population who did not graduate from high school or earn a GED. On average, they earn $33,913 per year, the lowest wages of all workers Congratulations! Everyone remaining finished high school.

  7. Red If you are holding a red card please sit. These 6 people represent 25.2% of the U.S. population who graduated from high school or earned a GED. On average, in the United States, they earn $46,938 per year. Congratulations! The remaining decided to further their education.

  8. Green If you are holding a green card please sit. These 5 people represent 21.8% of the U.S. population who dropped out of college without finishing a degree. On average, in the United States, they earn $54,881 per year. Congratulations! The remaining finished some kind of post-secondary education.

  9. Yellow If you are holding a yellow card please sit. These 2 people represent 8.9% of the U.S. population who received their associate degree. On average, in the United States, they earn $64,537 per year. Jobs requiring an associates degree are expected to grow 32% between 2000-2013. These people are prepared for this significant change in the job market.

  10. Blue If you are holding a blue card please sit. These 5 people represent 18.7% of the U.S. population who received their bachelor's degree. On average, in the United States, they will earn $88,948 per year, which is more than twice what a high school graduate earns.

  11. Purple If you are holding a purple card please sit. These 3 people represent 10.2% of the U.S. population who have completed their graduate or professional degree. On average, in the United States, they earn $115,179 per year.

  12. Education vs Income

  13. Traits of successful workers • Traits employers seek include: • Extra curricular activities (works well with a team) • Member of school organizations (interpersonal traits) • Part time jobs (experience) • Good School Attendance (dependable) • Basic Employability Skills (read, write and calculate)-Keytrain Certification • High School Graduate • Possible job sources • Internet (Do Not Pay For JOBS!) • Newspaper (Help Wanted Ads) • Networking (personal sources) • Temporary Agencies (Always ask “who is paying for the service; you or prospective employer?”)

  14. Review How long does it take to obtain each degree? Associates, Bachelors, Masters, Doctors? Define human capital and give one example of what you can do to contribute to your personal human capital? Why can it be said that investment in your human capital lasts a lifetime? Describe the relationship between income and education. Part of your investment in yourself is to develop traits of successful workers.Name and describe at least two traits employers look for in employees? What sources are used to find employment? What are things you should avoid (or ask) when using on-line sources or employment agencies in your employment search?

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