KS 3 Careers…

Objective... To understand basic spending and assess the suitability of job roles based on lifestyle choices...

Your Lesson Objectives… How the differences between necessities and luxuries… Understand... How salary can impact on lifestyle choices… Explore jobs to support my own lifestyle preferences… You Will… Know… Be Able to… Lesson 13… Where does my money go…?

Have a look at some of the things that need to be paid out each month. Can you explain what each of these phrases means…? Council Tax Mortgage / Rent Home Insurance Water Rates Bills e.g. Gas Bill Luxury vs Necessity Discuss as a class… Task One… Lesson 13… Where does my money go…?

E.G. Bills (gas, electricity) (Paid monthly) Rent or Mortgage (Paid monthly) Water Rates (Paid monthly) Council Tax (Paid monthly) Home Insurance Food Clothes Now think about your parents / guardians. Make a list of all the NECESSITIES you think they have to pay for… Car Internet Connection Equipment for Free Time (Computers / MP3 etc) Fashionable Clothes Luxury Food Socialising Costs (Cinema, Restaurants etc) Size & Location of House Many, many others…. Make a list of all the LUXURY items you think an adult would like to afford… Task Two…

Meet Hannah! She’s recently finished her studies and is now looking for a job. She wants to work in the Medicine, Law, Education & Care sector, but is unsure which path to take next. She wants to work in a caring role, helping people, but is very keen NOT to change her current lifestyle. Help her make a decision, by first looking at her lifestyle choices and seeing what salary she will need… Task Three… Case Study … See if you can guess how much Hannah pays for her necessity and luxury lifestyle choices Lesson 13… Where does my money go…?

Over the next 8 slides, you will see how Hannah lives… On your ‘How Much?!... Sheet you are going to guess how much this lifestyle could cost Hannah… Make your predictions by ringing a, b or c on the left for each option. Then write down the correct answer on the right… Task Three… Case Study … Lesson 13… Where does my money go…?

Task Three… £275 a month (depending on location) Lesson 13… Where does my money go…? Number One How much approximately could Hannah (or any individual) pay for a double room in a shared house…? Place your bets…!

Number Two A new ford focus (including petrol for a month) (the car is bought on finance, which means you pay it off in instalments over a number of months) Place your bets…! Task Three… £300 a month (depending on model and agreement) Lesson 13… Where does my money go…?

Number Three Comprehensive Car Insurance (Which means if you have an accident, your insurance company will pay to repair your car as well as any other vehicle involved) Place your bets…! Task Three… £50 a month (depending on agreement) Lesson 13… Where does my money go…?

Number Four Council Tax (This money goes towards local council workers to dispose of our rubbish, repair our roads, provide street lighting, community events etc) Place your bets…! Task Three… £130 a month (depending on your house /area) Lesson 13… Where does my money go…?

Number Five Bills Including Gas (for heating and cooking), Electric (for lighting and electricity), Water, Telephones (landline and mobile phone), Internet, Place your bets…! Task Three… £150 a month (approx. depending on time of year etc) Lesson 13… Where does my money go…?

Number Six Food Average eating costs for one person over a month. Including fruit, vegetables, meat, sauces, snack foods etc Place your bets…! Task Three… £150 a month (depending on preferences etc) Lesson 13… Where does my money go…?

Number Seven Home Entertainment How much would it cost to pay to hire a TV, DVD player and have Sky TV for a month Place your bets…! Task Three… £60 a month (depending on package etc) Lesson 13… Where does my money go…?

Number Eight Holidays How much would you have to save, a month, over the course of a year to be able to go to a 4* All Inclusive resort in Spain for 2 weeks? Place your bets…! Task Three… £700 in total; £58 a month (depending on holiday package) Lesson 13… Where does my money go…?

Now add up all the costs for Hannah per month... What would she need to earn each year…? Task Three… £1,173 a month Lesson 13… Where does my money go…? This adds up to a yearly salary of £14,076

So Hannah needs to earn a total of about £18,000 to pay her Income Tax, without it eating into the money she needs for her lifestyle choices… Now log onto u-explore and click into the Medicine, Law, Education & Care Sector. Find 5 jobs from the ‘Job Bank’ which Hannah could do which start on £18,000 a year… Don’t forget, she’s a caring person and wants to help people… Task Three… Lesson 13… Where does my money go…? Don’t forget! Everyone who works needs to pay Income Tax, which is a tax the government takes directly out of your wages to pay for public amenities such as schools, hospitals the police force etc. This is currently 20% of your wages! (If you earn under £37,000)

Now that you’ve helped Hannah decide how much she needs to earn to lead the life she wants, you are now going to have a look at what YOU will need to earn…! Have a look at your ‘Lifestyle Choices’ Sheet… Choose from the three options for the type of lifestyle you wish to lead… Circle the choice you’d like… Try to be as honest as possible…! Task Four… Lesson 13… Where does my money go…?

Now use your ‘Working out my lifestyle cost’ worksheet to help you calculate how much money you are going to have to earn to support the lifestyle you desire…! Is this more than you expected or less than you expected…? Now use u-explore to research the sorts of jobs you will need to lead the life you’d like to… Task Five… Lesson 13… Where does my money go…?

A) Choose any industry sector that you are interested in… B) Click into the ‘Job Bank’… C) Look through the Job Bank and identify five jobs which will earn you enough money to support the lifestyle you desire… G) Make a note of the starting salary for each role… Task Six… Lesson 13… Where does my money go…?

Now work with a partner and down the answers for questions 1 to 5… 1.What does Council Tax pay for…? 2.What does Income Tax pay for…? 3.Which of these items is NOT a luxury item…? 4.How much of your wages goes on Income Tax…? 5. How much salary will you need to earn to support your ideal lifestyle…? Food Car Holidays Amenities in your local community such as libraries, refuse disposal and lighting Government organisations such as schools, hospitals and police 20% of your earnings (if you earn less than £37,000 / year Task Seven… Lesson 13… Where does my money go…?

CONGRATULATIONS! You have successfully completed lesson 4 and know about earning and managing your money…! Lesson 13… Where does my money go…