Understanding the Paycheck

Understanding how your paycheck is influenced by your future career

One thing you must understand about your Paycheck, is that you are required by local, state and the federal governments to pay taxes.

• Taxes are deducted from all employees paycheck

• Used to provide public goods and services(roads, police, schools, governmental agencies, fire and emergency services)

To receive a paycheck, an employee must:

• Complete a Form W-4(This determines the amount of money withheld for taxes)

• Complete a Form I-9(prove the identity of people and avoid hiring non US citizens

Poll

Is getting a paper check, the only way that employers can pay their employees?

• yes

• no

• maybe

Multiple Choice

Which of the following is not a way that employers pay employees

• paper check

• payroll card

• gift certificate

• direct deposit

Poll

How would you prefer to get paid?

• direct deposit

• payroll card

• paper check

Poll

How many of you want a Job?

• Yes

• No

• Not right now

• Maybe

What is the difference between a Job and Career?

Job vs. Occupation

• Job-a specific task done as a part of the routine of one's occupation

• Ex. stocking shelves at a grocery story, taking a patient's blood pressure, or

Occupation-A wide category of jobs with similar characteristics

• Under the Teacher Umbrella ex. of jobs

• leading a youth group, tutoring in an after school program, teaching a math lesson

Fill in the Blanks

What is the amount of money earned before payroll withholdings?

Fill in the Blanks

What is the amount left after all payroll deductions have been taken from the gross income?

What is a career?

• a lifetime journey of building and making good use of your skills, knowledge, and experiences

• Many different factors influence and help build a person's career

What is a career?

• a lifetime journey of building and making good use of your skills, knowledge, and experiences

• Many different factors influence and help build a person's career

Open Ended

What is your desired career?

Open Ended

What are some factors that could influence a career?

Poll

What factors may influence your career choice?

• Family/friends

• Leisure activities

• Education

Why would a person want to build their career?

• Building a career=Self-investment(gaining education, skills, experiences)=Opportunity to earn more money

• 
  

2 Main Ways to Increase Income

• Human Capital-Process of self-investing by working, going to school, volunteering etc.

• Transferable skills-skills acquired through the process of self-investing(ability to follow orders, organization , ability to communicate clearly, interpersonal relationship skills, problem solving skills etc.

Open Ended

Identify one form of self-investment that you have completed