1. Decisions work: career, job, wage or salary, skills, and entrepreneurship. Gross pay is before taxes and deductions and net pay is after. Education: college, university, community college, military, apprenticeship, and vocational. Living: rent and mortgage Setting goals that are financially responsible

2. Things to consider Social Security: deducted from workers paychecks which provide money to people who are retired or disabled. Medicare: deducted from workers paychecks to pay for some health care costs of elderly people. Medicaid: funded from federal and state governments to assist in health costs for low income or low resource people and family. Fixed costs and variable costs to you as a consumer.

3. Budgets Budget: a careful record of all the money you earn and spend. It tells you exactly where your money goes and makes sure your expenses match your income. Income: the money you earn. Expenses: what you spend How to make a budget – Make a list of everything you spend for a few weeks. – Make a list of everything you earn in that same time period – Analyze and see what you can reduce or cut. – Make sure you have a surplus in case of emergencies – Monitor your spending periodically. It is important to set some income aside for the future. It can aid in big purchases in the future.

4. Checking & Saving Savings accounts- a great way to save because its easily available and earns interest. You just have to deal with the trade-off (now or later). Interest: is the payment people receive when they lend money, or allow someone else to use their money. Saving & checking accounts provide – Safety – Withdraw at any time – Interest earned is added to your principal (or amount initially put in). Writing a check will have the bank pay the person or business from you checking account. (same as a debit card) With a checking and savings account it becomes easier to manage your money with deposits, transfers, automated transactions. Be careful not to bounce checks or overdraft and look for hidden fees.