Module 1:  The Big Question Viewing Guide
Question 3:  How Does Work Fit in My Life?
There are a number of resources listed for Question 3.  
View the resources assigned and fill in the information from the video.  
This guide is intended to help you to develop a better understanding of the Framing Question below.
NAME:  
Date:  
Question 3:  How does work fit in my life?
•	V – Watching Where Your Money Goes (approx. 1:45) 
1.	 Why is it important to have a plan for your finances?  What can happen?

2.	Why does John have difficulties paying his bills?

3.	What makes Carrie more successful in paying her bills each month?

4.	Do you see yourself more like John or Carrie?  Why?

5.	If you see yourself more like John, what are some things you can do to help manage your money more successfully?

•	V – Budget and Income (approx. 1:15) 
1.	 What is a budget, and why would you want one?

2.	 What does a budget contain?
•	V – Preparing a Budget:  Salary Calculator (as long as it takes!)
You will want to do a search on the types of jobs you can see yourself in down the road.  Select up to three.  Use the career website button in the top of the Salary Calculator box.  DO NOT PUT COMMAS IN THE ANNUAL SALARY COLUMN (i.e., 40,000 must be 40000).  THE CALCULATOR WILL NOT WORK OTHERWISE.
•	In the careers that you selected, were you surprised by what your monthly income would be after taxes?  Why or why not?

•	V – Gross vs. Net Income (approx. 2:00)
1.	 What is GROSS income?

2.	 What is NET income?

3.	Explain how taxes, Social Security and retirement figure into GROSS v. NET income.

•	V – Understanding Expenses  (as long as it takes!)
Use the calculated incomes that you researched in the Salary Calculator activity and put your monthly income AFTER TAXES into the space above the budget.
Working your way through the budget, decide which items you will NEED first, and then click on some of the items you will WANT.  
The coins in your jar in the upper right corner will begin to disappear.
•	Describe how you did with your monthly budget.  Were you surprised?  Why or why not?

•	
PDF – Create Your Own Budget
Here is an example of a budget sheet. Print this sheet and complete the sheet based on
your best guesses about future expenses and your expected income from the career you
have chosen in this challenge section. This information will provide you with a realistic
budget for your lifestyle beyond high school.

Income:
Annual Income 			$ -	_______________ - ______________
Monthly Gross Income 		$ -	_______________ - ______________
Weekly Gross Income 		$ -	_______________ - ______________

Monthly Taxes
Federal Income Tax			_______________ - ______________
State Income Tax			_______________ - ______________
FICA					_______________ - ______________
Total Taxes				_______________ - ______________

Monthly Net Income 		$ -	_______________ - ______________
Weekly Net Income 		$ -	_______________ - ______________

Monthly Expenses
Budget Items 				Student Approx.      Revised Budget
Food					_______________ - ______________
Rent					_______________ - ______________
Utilities					_______________ - ______________
Telephone				_______________ - ______________
Cable					_______________ - ______________
Car Payment				_______________ - ______________
Car Maintenance			_______________ - ______________
Gas					_______________ - ______________
Clothing				_______________ - ______________
Personal Care				_______________ - ______________
Medical Expenses			_______________ - ______________
Insurance (Health)			_______________ - ______________
Insurance (Life)				_______________ - ______________
Insurance (Auto)			_______________ - ______________
Insurance (Home/Renters)		_______________ - ______________
Savings					_______________ - ______________
Retirement				_______________ - ______________
Gifts					_______________ - ______________
Entertainment				_______________ - ______________
Vacations				_______________ - ______________
Donations				_______________ - ______________
Subscriptions/Memberships		_______________ - ______________
$ -	_______________ - ______________

Monthly Net Worth 		$ -	_______________ - ______________

NOTE: Monthly Income = Annual Income/12; Weekly Income = Annual Income/4; Monthly net income = monthly gross
income - total taxes; Weekly net income = monthly net income/;  Monthly Net Worth = Monthly Income - Monthly Expenses.