L1 What are You Going to Do?
Your line of work
Career
Yes, anywhere from $15,000-$30,000 more per year
The first thing to do is to figure out a business idea that will make
Money
The charge or fee for going to a school/college/university
Tuition
The amount of money you get to take home after taxes and deductions
Take-home Pay
Name 2 ways you can cut cost for college
Any 2 reasonable ways that help cut the cost of college
Get a part time job, earn rewards, buy used books, live at home, chose the right meal plan, dual-enrollment
Payment for work, usually calculated in periods of an hour
Wages
List 2 businesses you can start now as a middle schooler, according to the lesson
Any two that apply (from the list in the lesson)
A person who works for someone else in exchange for money
Employee
A person who organizes and runs a business— and assumes the risks associated with the business
Entrepreneur
According to the lesson, your job should blend what two things?
Something you're good at and something you love to do
Any income (wages/salary) produced by working at a job as an employee.
Earned Income
Name one of the three famous entrepreneurs and their company mentioned in the lesson
Steve Jobs (Apple), Mark Zuckerberg (Facebook), and Bill Gates (Microsoft)
A portion of an employee’s wages deducted for taxes
Withholding
The total amount an employee is paid along with any benefits the employee receives
Compensation
According to the lesson, what is the best way to find out about a job you want to do?
Find someone who is doing the job and ask them about it
What is the best form of income that all of you should strive to have?
Passive income
Small businesses are defined as having fewer than _____ employees
500
Payment for work, usually calculated in periods of a week or longer
Salary
When income is greater than expenses
Profit
What are two things you can earn to get free money for college?
Scholarships and grants
Name something other than your salary that can be a part of your compensation package
Anything that could apply
Health insurance, life insurance, dental insurance, bonus payments, returning bonus, care packages ect.
List 2 of the "Six-Battery Included Ways to Get a Job"
Don't create drama, Don't gossip or backbite, Be positive and encouraging, Be a self-starter, Accept responsibility, and Show up on time
Income from investments, interest, and earnings, including the sale of an investment at a higher price than you paid for it
Portfolio Income
Income earned from things you own such as houses, land, or other buildings as well as money earned from books, software, or music you have written
Passive Income