1. STARTER Choose one below to complete:
Would you like to work in a job that may require you to work overtime? Why or why not? Write at least 4 sentences explaining your choice.
Brainstorm the skills and personality traits a salesperson should possess. Are you interested in working for commission?

2. How to Know What You’re Worth
Day 3 – Balance Sheets and Annual Income Statements

3. ASSETS
What you currently own that is of worth.

4. LIABILITIES
What you currently owe.

5. INCOME
Money that you make over a specified time.

6. EXPENDITURES
Money you will spend or have spent over a specified time.

7. Mary has compiled all of her records to determine her current financial status. Sort each item into the category of asset, liability, income, or expenditure.
ITEM
AMOUNT ($)
CATEGORY
Current Discover Card Bill Owed
5,300
Current MasterCard Bill Owed
550
Savings Account
3,250
Monthly paycheck, net
2,177
Car
12,000
Car Loan Balance
8,000
Monthly Car Payment
265
Checking Account Balance
800
Furniture
2,020
401 (k) retirement fund
6,500
Annual Medical expenses
1,000
Stocks
4,254
Monthly Health Insurance Premiums
366
Monthly Cell Phone Bill 53

8. Annual Income Statement
“Financial Motion Picture”
Tells where your money has come from and where it goes using your income and expenditures.

9. Balance Sheet “Financial Snapshot”
Gives your financial position on a given moment using your assets and liabilities.

10. Net Worth Comes from your Balance Sheet and measures your wealth.
Can be negative.
Formula: Assets – Liabilities