Monetary and non-monetary incentives can both impact decisions related to earning income.
Monetary incentives, such as a high salary or bonuses, can be a strong motivator for people to
choose a particular job or career path. For example, someone may choose to become a doctor or
lawyer because of the high earning potential in those fields.
On the other hand, non-monetary incentives, such as work-life balance, the opportunity to make
a positive impact on others, or the chance to learn and grow professionally, can also be important
factors in career decisions. For example, someone may choose to work in a non-profit
organization because of the sense of purpose and fulfillment that it brings, even if the pay is not
as high as in a more lucrative field.
Ultimately, the mix of monetary and non-monetary incentives that is most important to an
individual will depend on their values, goals, and priorities. It is important for people to consider
both types of incentives when making decisions about their career and financial future.
PG 3
After high school, my career plans are to attend college and study a field that interests me. I am
still deciding on a specific major, but I am considering options such as business, engineering, or
computer science. I hope to use my education to land a well-paying job in my field of study, and
I plan to continue learning and growing professionally throughout my career.
I am also considering the non-monetary incentives of a job, such as the opportunity to make a
positive impact on the world or the chance to work in a field that is meaningful to me. I
understand that monetary incentives, such as a high salary, are important for financial stability
and security, but I also want to find a career that I am passionate about and that brings me
fulfillment.
I plan to research different career options and their associated salaries, as well as the education
and training required to pursue these careers. I also want to consider the job market for each field
and the potential for growth and advancement. Overall, I hope to make informed and thoughtful
decisions about my career path to ensure a successful and fulfilling future.
PG 6
List three job or career options you are considering after high school:
1.
Software developer
Teacher
Marketing specialist
According to the U.S. Bureau of Labor Statistics (BLS) the average salary for a software
developer, Teacher and Marketing specialist is $107,510, $62,870 and $69,850 respectively per
year. However, these figure can vary based on the individual's level of education and experience,
as well as the specific industry in which they work.
After doing some research on Glassdoor.com, I found that the average salary for a Software
Developer I at Amazon is $85,458 per year. Some of the benefits offered by Amazon for this
position include health insurance, 401(k) matching, and paid time off.
On the other hand, the average salary for a Warehouse Worker at Amazon is $34,480 per year.
Some of the benefits offered by Amazon for this position include health insurance, 401(k)
matching, and paid time off, but the salary is significantly lower than that of a Software
Developer I.
The large pay gap between these two positions may be due to a variety of factors, including the
level of education and training required, the demand for workers in each field, and the
responsibilities and duties associated with each job. Software development tends to require a
higher level of education and specialized skills, and there may be a higher demand for workers
with these skills in the job market. On the other hand, warehouse work is often considered a less
specialized and lower-skilled job, which may result in lower pay. It is also possible that the pay
gap reflects differences in the value that society places on different types of work.
PG
After listening to Liz's story, my reactions were a mix of inspiration, admiration, and respect. I
was inspired by Liz's determination and resilience in the face of seemingly insurmountable
challenges. Despite being homeless and facing significant hardship, she was able to overcome
these challenges and achieve her dreams through hard work, perseverance, and the support of
those around her.
I also admired Liz's ability to recognize and seize opportunities that were presented to her, even
when they seemed unlikely or unlikely. Her willingness to take risks and pursue her goals despite
the obstacles she faced is truly admirable.
Overall, Liz's story is a testament to the power of hard work and determination, and it serves as a
reminder that anything is possible with the right mindset and approach. It was truly inspiring to
hear about her journey from homelessness to Harvard University, and I believe her story will be
an encouragement to others who are facing their own challenges.
PG
There are several factors that can influence how much a person's career pays them. These factors
can include the level of education and training required for the job, the demand for workers in
that field, the responsibilities and duties associated with the job, and the individual's level of
experience and expertise. Some careers, such as software development, tend to pay higher
salaries due to the specialized skills and education required, while others, such as warehouse
work, may pay lower salaries due to the lower level of education and training required.
In addition to income, there are other factors that can make people want to work for a specific
company. These can include the company's reputation, the quality of its benefits, the work-life
balance it offers, the opportunities for growth and advancement, and the sense of purpose or
fulfillment that it provides. People may also be attracted to a company because of its values or
mission, or because it aligns with their personal goals and interests.
Out of the career options that I am considering, I am most interested in software development.
This field combines my interests in computer science and problem-solving, and I believe it offers
a wide range of opportunities for growth and advancement. I am also attracted to the high
earning potential and the potential for impact that this career offers.
To obtain a career in software development, I would need to complete a four-year degree or
higher in a field related to computer science, such as computer engineering or computer science.
I would also need to gain experience and skills through internships, coding boot camps, or other
training programs. I would also need to stay up-to-date on the latest technologies and trends in
the field, and continue to learn and grow professionally throughout my career. To get to this
point, I would need to complete high school and pursue higher education, as well as seek out
opportunities to gain relevant experience and skills.
PG
Definition: Savings refers to the act of setting aside a portion of one's income or resources for
future use or emergencies.
Characteristics:

Savings involve setting aside a portion of one's income or resources for a specific
purpose or goal.

Savings can be held in various forms, such as cash, investments, or a savings account at a
bank or credit union.

Savings may accrue interest over time, depending on the type of savings vehicle used.

Savings can be used for various purposes, such as paying for unexpected expenses,
building a financial cushion, or achieving long-term financial goals.
Domestic Examples:

A person sets aside a portion of their monthly income into a savings account at a bank.

A family creates a savings plan to save for a down payment on a house.

An individual invests in a retirement account to save for their future.
Non-Examples:

Using credit cards to make purchases or pay for expenses is not an example of savings.

Spending money on non-essential items or luxuries is not an example of savings.
Benefits of Savings:

Savings can provide financial stability and security in case of emergencies or unexpected
expenses.

Savings can help individuals achieve their financial goals, such as buying a home or
paying for education.

Savings can also provide peace of mind and reduce financial stress.

By saving money, individuals can also take advantage of opportunities that may arise in
the future, such as investing in a business or taking a trip.
PG 14
A credit score is a numerical representation of an individual's creditworthiness and financial
history. A high credit score can have a number of benefits, including:

Lower interest rates on loans: Lenders often use credit scores to determine the risk of
lending money to an individual. Those with high credit scores are seen as less risky and
may be offered lower interest rates on loans.

More loan options: A high credit score can also make it easier to get approved for loans,
such as a mortgage or car loan.

Better terms on credit card offers: Credit card companies may offer more favorable terms,
such as higher credit limits or lower fees, to individuals with high credit scores.
To maintain a good credit score, it's important to:

Pay bills on time: Late payments can have a negative impact on your credit score.

Keep credit card balances low: High balances can hurt your credit score, so it's important
to pay off your credit card balances in full each month or keep them at a low level
relative to your credit limit.

Don't apply for too much credit: Each time you apply for credit, it can have a negative
impact on your credit score. It's important to only apply for credit when you truly need it.

Monitor your credit report: It's important to regularly check your credit report for errors
or signs of identity theft. You can request a free copy of your credit report from each of
the three major credit bureaus once per year.
PG
1. Some pros of using a savings account include:

Earning interest on your money

Providing a safe and secure place to store your money

Having access to your money when you need it
Some cons of using a savings account include:

The interest earned may be low compared to other investment options

There may be fees associated with the account, such as monthly maintenance fees or fees
for withdrawing money

Inflation can erode the value of your savings over time
2. Some consequences of using credit include:

Accumulating debt, which can be expensive to repay and may negatively impact your
credit score

Paying interest on the borrowed money, which can increase the overall cost of your
purchases

Risking financial stress or difficulty if you are unable to make your payments on time or
if you take on too much debt
3. Some advantages of opening a line of credit include:

Having access to additional funds when you need them

Being able to make purchases or cover expenses without having to pay for them upfront

Building a positive credit history by using credit responsibly and making timely
payments
4. Some advantages of creating a budget include:

Helping you to better understand your income and expenses

Allowing you to prioritize your spending and saving

Enabling you to set and achieve financial goals

Providing a roadmap for managing your money and avoiding overspending

Giving you a sense of control over your finances.