1. Bell Ringer #12 – 5/17/2010 1. What do you think the difference is between a “job” and a “career”. 2. Name one “career” that you would like to have. 3. Name one “job” that may help you reach this career.

2. Making “Cents” of Your Career Ideally, you will find work you love – pays enough to live comfortably and helps you achieve your financial goals. Ideally, you will find work you love – pays enough to live comfortably and helps you achieve your financial goals. Job – provides you with the basics – cash and something to do to earn it Job – provides you with the basics – cash and something to do to earn it Career – your chosen occupation. It should provide a reliable income, challenges, advancement opportunities, and satisfaction. Career – your chosen occupation. It should provide a reliable income, challenges, advancement opportunities, and satisfaction.

3. Credit Terms to Know Annual Percentage Rate (APR) – Yearly fee charged by many credit cards in addition to interest charged on purchases Annual Percentage Rate (APR) – Yearly fee charged by many credit cards in addition to interest charged on purchases Bankruptcy – legal process to end debt when you cannot make required payments. Hurts credit score. Bankruptcy – legal process to end debt when you cannot make required payments. Hurts credit score. Debt – amount of $$ you are obligated to pay back Debt – amount of $$ you are obligated to pay back

4. Credit Credit – ability to be loaned money. Credit – ability to be loaned money. The $$ loaned is the principal value. You pay the loan back with principal + interest (fee for borrowing $$). The $$ loaned is the principal value. You pay the loan back with principal + interest (fee for borrowing $$). Credit allows people to buy things now that they may not be able to afford. Credit allows people to buy things now that they may not be able to afford.

5. Credit Score By law, Americans are entitled to 1 free credit report copy per year. By law, Americans are entitled to 1 free credit report copy per year. Credit scores range 300 to 850; high scores reflect a lower risk to lend $$. Credit scores range 300 to 850; high scores reflect a lower risk to lend $$. In general, 680 or above is considered good. In general, 680 or above is considered good.

6. Getting out of Debt Put away the plastic (credit cards) – start living entirely on a cash basis again Put away the plastic (credit cards) – start living entirely on a cash basis again Make a commitment to repay all debts. Determine your total debt. Create a repayment plan you can stick with. Make a commitment to repay all debts. Determine your total debt. Create a repayment plan you can stick with.

7. Class Assignment Read Pages 60-65 in your workbook Read Pages 60-65 in your workbook Complete pages 63 - 65 Complete pages 63 - 65 On 64: Write out a check to one of your parents in the amount of $124.50 to pay them back for a trip you took with friends On 64: Write out a check to one of your parents in the amount of $124.50 to pay them back for a trip you took with friends Complete the check register on page 65 Complete the check register on page 65

8. Lifestyle Your career choice determines your lifestyle – how much time you’ll have in your life for other things Your career choice determines your lifestyle – how much time you’ll have in your life for other things Your career determines your income & the amount of time you have outside of work Your career determines your income & the amount of time you have outside of work Money doesn’t necessarily buy happiness – turn to page 96. Money doesn’t necessarily buy happiness – turn to page 96.