Life Skills Workbook
Bothell, WA • Chicago, IL • Columbus, OH • New York, NY
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
ACTIVITY 1: Consumer Power and Protections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
ACTIVITY 2: Time Management Skills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
ACTIVITY 3: Consumer Ethics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8
ACTIVITY 4: Work-Life Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
ACTIVITY 5: Giving Back . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
ACTIVITY 6: Choosing a Career . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18
ACTIVITY 7: Career Paths . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23
ACTIVITY 8: Best Practices in the Workplace . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
ACTIVITY 9: Your Personal Finances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29
ACTIVITY 10: Needs, Wants, and Values . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
ACTIVITY 11: Power of Persuasion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35
ACTIVITY 12: Managing Your Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38
ACTIVITY 13: The Impact of Technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .41
ACTIVITY 14: Taxes and the Consumer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44
ACTIVITY 15: Being Green . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .47
ACTIVITY 16: The Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
ACTIVITY 17: The Impact of the Consumer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53
ACTIVITY 18: Credit Cards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .56
ACTIVITY 19: Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .62
ACTIVITY 20: Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65
ACTIVITY 21: Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .68
ACTIVITY 22: Investing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72
ACTIVITY 23: Tax Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76
ACTIVITY 24: Working Families . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .81
ACTIVITY 25: The Decision-Making Process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .84
ACTIVITY 26: Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87
ACTIVITY 27: Communication . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
ACTIVITY 28: Stress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93
ACTIVITY 29: Conflict . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96
ACTIVITY 30: Life and Career Changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99
TABLE OF CONTENTS
Life Skills Workbook
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Activity 1
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
1
Name _________________________________________ Date _______________ Class ____________
Activity 1 Consumer Powers and Protections
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, an
Extension Activity, and a Research Activity.
What Are Your Rights as a
Consumer?
Today, you can buy items using your
computer, smart phone, or by going to a
store. With the variety of options
available, it is critical that you are an
informed consumer, so you can make
good financial decisions. Fortunately,
you have help and protections while
shopping in today’s marketplace.
In 1962, the Consumer Bill of Rights
was established. It helps ensure that
consumers can defend themselves
against faulty or defective products.
Consumers have a right to safe products
and sellers have a responsibility to create
and sell safe products. The four basic
rights are a right to safety, to be
informed, to choose, and to be heard.
And with all rights, comes
responsibilities. Your responsibilities as
an informed consumer are to use
products safely, research and use
information, choose wisely, contact your
public officials about consumer issues,
and seek redress.
In addition to the bill, there are
consumer protection laws to protect you
from dangerous products, fraud, or
discrimination. These laws protect you
even if you are unaware of them. Just
look at food labels in your kitchen.
The Fair Packaging and Labeling Act
of 1967 required truth in packaging and
labels to help consumers know what
their food contains and to be able to
compare products.
To see another example, look for the
warning label on children’s toys. The
Child Protection and Toy Safety Act was
passed in 1994. It prohibits the sale of
dangerous products intended for sale to
children and requires a warning label on
toys with small parts.
If you are shopping for a credit card or
a loan, you will appreciate the Truth in
Lending Act. It requires creditors to
report all costs associated with
borrowing money in a standardized form.
This allows consumers to compare credit
charges and interest rates.
These laws are enforced by federal and
state government agencies like the
Consumer Product Safety Commission,
and the Department of Agriculture. State
attorney general’s offices have consumer
protection divisions, too. Locally, you can
contact your city or county government
for consumer assistance. Private,
nonprofit consumer groups such as Public
Citizen, or the local chapter of the Better
Business Bureau (BBB) will also work to
help you resolve your issue. You can file a
complaint with the BBB and they will act
as a mediator to help resolve the issue.
These laws and agencies ensure that
businesses sell safe products and provide
redress for consumers. Your attorney
general may also offer dispute resolution
through arbitration. For example, some
states have “Lemon Laws”. If a consumer
buys a new car and it has a serious defect
that is not corrected by the seller within a
certain time frame, then the parties can
go to arbitration to decide if the consumer
is due a refund.
Life Skills Workbook Activity 1
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 1
2
Name _________________________________________ Date _______________ Class ____________
Vocabulary
redress remedy for a wrong or loss
arbitration a procedure in which a neutral person or panel listens to both sides of a
dispute, weighs the evidence, and makes a decision
Fact and Idea Review
1. What skills are required to be an effective consumer in today’s marketplace?
2. What influence do you as a consumer have on sellers?
3. What rights and responsibilities do consumers and sellers have?
4. What legal protections do consumers have?
5. What forms of redress do consumers have at the state and local level?
Activity 1 Life Skills Workbook
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 1
3
Name _________________________________________ Date _______________ Class ____________
Critical Thinking
6. Why do you think there was a movement to have consumer protections? Are
consumer protections still necessary? What do you see as the next trend in
consumer issues?
7. How do the consumer protections of the Fair Packaging and Labeling Act and the
Food and Drug Administration impact individuals and your family? What do you
think the next consumer trend in labeling will be?
Extension Activity
If your verbal complaints are not heard by a retailer, your next step is to write a letter of
complaint. Write a letter of complaint to resolve a consumer issue you have
experienced. As a class, discuss what other forms of redress have consumers. Discuss
what rights and responsibilities consumers and sellers have.
Life Skills Workbook Activity 1
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Activity 1
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
4
Name _________________________________________ Date _______________ Class ____________
Research Activity
Directions Research the agencies and groups and write a brief description
of how these groups help consumers. Identify if they are local, state, federal,
or private agencies.
1. Consumer Product Safety Commission
2. Better Business Bureau
3. Consumers Union
4. Food and Drug Administration
5. Attorney General’s Office
6. United States Department of Agriculture
Which of the consumer protection groups would you contact in these scenarios:
7. Contractors repaired your roof last week, but it leaks during a thunderstorm.
8. You purchased a toy for your nephew that breaks into many small pieces.
9. You purchased food that caused you to become ill.
10. You want to research a new digital camera before you buy it.
Activity 1 Life Skills Workbook
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 2
5
Name _________________________________________ Date _______________ Class ____________
Activity 2 Time Management Skills
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and an
Extension Activity.
Planning for Success
There is a Chinese proverb that says
the journey of a thousand miles begins
with the first step. Time management is
really about taking a large overwhelming
task and breaking it into smaller steps
that you can accomplish. This is when
some people may procrastinate, but if
you can create a plan to tackle your
project, then you will feel more in
control of your time and the project. You
will also be more likely to succeed.
One of the first things to do is to
create a task list. Then set your
priorities, which task should be done
first, second, third, and so on. Now you
are ready to set goals. It is best to set
several small goals. You will enjoy a
feeling of accomplishment each time you
attain one of your goals.
Another strategy is to schedule time
to work on your project. When will you
work on task A, B, and C? How much
time will it take to complete task A, B,
and C? When will you do it – after
school, or work, on the weekend? By
creating a detailed schedule, you will
also keep your work life and personal
life in better balance. You can schedule
free time to help reduce stress. Some
down time will also help you focus
better when you return to your project.
You should also be flexible enough to
rework your schedule if necessary. If a
line of inquiry takes longer to research,
you may have to juggle your schedule.
Conversely, if you have set aside four
hours on a weekend and the task does
not take that long to complete then you
need to rework your schedule.
Your work environment is also an
important tool to helping you complete
your work. Keep your work space tidy
and files organized. Set up your
computer, files, and desk for efficiency.
Use your computer wisely; download
calendars or templates to optimize your
time management. Labeling file folders
with accurate names and organizing
them by date will help you find them
faster. Once you complete your project
you can sift through and delete or
discard files that are no longer useful.
Keeping good records and organizing
your files is a good habit to start now. It
will help you when you start working or
start your own business. Just like you,
businesses need to manage time and
organize their files and record keeping.
Every business must file taxes.
Therefore, it is necessary to save all tax
related forms, payroll and employee
benefits information, and any business
expenses. In short, businesses must keep
any and all information necessary to fill
out a tax return or make a claim.
You have 24 hours in a day. How you
use that time will decide how much you
can accomplish in a day. Time
management skills are key to getting the
most out of your day. Remember, it’s
really about taking a lot of small steps to
achieve your goal.
Life Skills Workbook Activity 2
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 2
6
Name _________________________________________ Date _______________ Class ____________
Vocabulary
priorities judgments about the relative importance of alternatives
goals targets for what you want to accomplish
procrastinate to put off taking action
Fact and Idea Review
1. What tools can help you manage time?
2. Describe strategies for time management.
3. How can you use time management skills to better balance your family time with
school or work?
Critical Thinking
4. Why is time management important to meeting your goals?
Activity 2 Life Skills Workbook
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 2
7
Name _________________________________________ Date _______________ Class ____________
5. What time management strategies work best for you and why?
6. What time management skills do you need to develop or improve? How could you
accomplish this?
Extension Activity
Compile a list of time management strategies that work best for you. Explain the
purpose and importance of record keeping for you and for businesses, including what is
appropriate to keep and discard.
Life Skills Workbook Activity 2
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 3
8
Name _________________________________________ Date _______________ Class ____________
Activity 3 Consumer Ethics
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and an
Extension Activity.
Ethics and Leadership
Impact of Ethics Along with all the
choices, decisions, and information
consumers must weigh, another one to
consider is ethical behavior. Would you
report it if you see someone you know
shoplifting? Would you buy a product if
you knew it is made by a country that
ignores labor laws or does not follow
safe and ethical labor practices? Would
you buy a product from a company that
excessively pollutes the environment?
These are all ethical decisions you may
have to make as a consumer and citizen.
Ethics are like a moral compass
pointing us in the right direction to make
the best decision.
Consumers who act unethically
negatively impact businesses but they
also impact other consumers. Businesses
pass along the expense of unethical
actions to the general consumer in the
form of higher prices. Shoppers who
return used clothing for refunds pass the
burden of their unethical behavior to the
next customer who unknowingly buys
the used item, or the business cannot
sell the item and may eventually have to
raise prices to recover losses.
Consumers can influence businesses
to behave ethically, also. Some
consumers that are concerned our
nonrenewable resources are running
out will not buy products that contain
plastic because they are made with oil.
Some may only buy products packaged
with biodegradable materials to reduce
landfill waste.
Other consumers may not buy a
product at all, by boycotting it, to show
how strongly they feel about an issue.
Forexample, suppose you find out that
your favorite product, and also the least
expensive choice, was made by a
company that employed unethical
practices. Would you still buy the product?
The company may choose to allow the
producer to ignore safe and ethical labor
practices to produce a product with lower
costs. This would allow the company to
sell the product at acheaper price due to
reduced production costs. A boycott of
this item may result in ethical practices
but also possibly higher prices. Knowing
possible outcomes, would you boycott the
product?
Impact of Leadership This sort of
leadership by individual consumers can
impact the world. Good leaders can
improve our world by bringing people
together to resolve problems. Good
leaders possess skills such as identifying
group goals, listening to ideas and
concerns, recognizing others
contributions, building consensus, and
making decisions.
Whether you volunteer in your
community to clean up your park or
work in a retail store, these skills will
help you communicate with neighbors
and customers alike. Today you are the
consumer, but one day you may be that
employee. Learning good habits like
treating people respectfully,
communicating clearly and calmly, and
waiting your turn will go a long way to
getting better results.
Activity 3 Life Skills Workbook
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 3
9
Name _________________________________________ Date _______________ Class ____________
Vocabulary
ethics values about right and wrong that serve as guidelines for human behavior
nonrenewable resources natural resources that cannot replace themselves
biodegradable able to decompose naturally in the environment
leadership the ability to inform and guide others
Fact and Idea Review
1. What is ethical behavior?
2. What are some examples of ethical issues that consumers may encounter?
3. What skills does a good leader possess?
4. How does being an ethical consumer translate to being an ethical employee? Why
do you think employers value these skills?
Critical Thinking
5. Why is it important that consumers behave ethically?
Life Skills Workbook Activity 3
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 3
10
Name _________________________________________ Date _______________ Class ____________
6. How can you demonstrate consumer ethics and professionalism for others?
7. How can you demonstrate leadership skills?
8. How can you apply these skills and abilities to another job or aspect of your life?
Extension Activity
There are various ethical issues that impact consumers and businesses such as
boycotting products or businesses, returning used goods. Describe an ethical issue you
have encountered while shopping. Describe a time you felt strongly about an issue that
it influenced what you purchased, or did not purchase. What do role consumers have in
promoting ethical behavior?
Activity 3 Life Skills Workbook
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Activity 4
11
Name _________________________________________ Date _______________ Class ____________
Activity 4 Work-Life Balance
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and an
Extension Activity.
Balancing Your Work and
PersonalLife
When you complete your formal
education you will have to find a job that
suits your skills and abilities. You will
need to consider the schedule, the pay,
and if you enjoy the work. The more
experience you have working, the greater
the likelihood that you will increase your
pay, position, and standard of living.
But, aside from these things, you have
other things to consider. How well does
your job fit with your life and your family?
Does it require a lot of travel, a relocation,
long hours at the office away from home?
Weighing these things carefully will help
you balance you work and family life.
There are a variety of programs,
resources, and public policies to help
workers strike this balance.
Many employers have standard family
friendly policies such as, telecommuting,
flextime, where you set your own hours,
and employee assistance programs that
offer counseling for personal or health
issues.
In 1993, there was a public policy shift
to support families when the Family and
Medical Leave Act (FMLA) was signed
into law. Before FMLA became law,
employees requesting time off to care for
family could be denied for any reason, or
even fired. With FMLA employees do not
have to be afraid they will lose their job
when they ask for time off to care for a
sick parent or to have a baby.
There are also local, state, and
national organizations that provide
assistance to support families. For
example, the Grandparent Network is a
non-profit agency that connects families
looking for the experience of an older
mentor. These grandparents offer
advice, care, and emotional support to
families who do not have grandparents
of their own to fulfill that role.
Other organizations offer services like
career support. There is likely a place in
your community that offers job
assistance for people who have lost a
job, are considering a career change, or
who want to explore other career
options. Through job support and job
retraining classes, people learn what
aptitudes they have that can be of
service to their community or to a new
employer. Being good at managing
money, solving problems, or
communicating with others are skills
that can serve an employer or
community well. These organizations
also offer informal support networks
such as practice interview sessions or
group discussions.
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Activity 4
12
Name _________________________________________ Date _______________ Class ____________
Vocabulary
standard of living the way you live as measured by the kinds and quality of goods and
services you can afford
mentor an experienced coworker who acts as a guide or informal teacher for
employees
Fact and Idea Review
1. How does the Family and Medical Leave Act affect families?
2. What kinds of resources are available that support families?
3. What skills are necessary to provide help to a community?
Critical Thinking
4. What impact does legislation like Family and Medical Leave Act have on a family?
5. What impact do community groups have on a family?
Activity 4 Life Skills Workbook
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Activity 4
13
Name _________________________________________ Date _______________ Class ____________
6. What skills are needed to provide services to the community?
Extension Activity
Take a look around where you live. What kinds of community resources are available
for people in your community? What kinds of formal and informal support networks are
offered? Do these resources benefit families? Select a local issue in your community
and explain how you could help resolve it through participation. Draft a plan to address
this issue in your community. To develop your own community participation skills, list
the skills required to address this issue and how you can develop these skills.
Life Skills Workbook Activity 4
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Activity 5
14
Name _________________________________________ Date _______________ Class ____________
Activity 5 Giving Back
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, an
Extension Activity, and a Research Activity.
Making a Difference in
theCommunity
Philanthropy is about making an active
effort to improve the welfare of others.
Booker T. Washington said “If you want
to lift yourself up, lift up someone else.”
Many people volunteer for various
reasons such as to give back to their
community, or they have a personal
connection to a particular cause.
Volunteering brings different types of
people together for a common cause or
goal. It also helps create communities of
people that care about one another.
People feel better after volunteering,
which improves their quality of life. A
study by the University of Michigan on
volunteer and non-volunteers with a
history of heart problems found that the
volunteers had less chest pain and lower
cholesterol levels than the non-
volunteers. Whatever the reason people
volunteer, there is a personal reward to
be found in helping others.
When considering a nonprofit
organization to volunteer for, you should
do some research. Ask friends and family
about the nonprofit to see what kind of
reputation it has. You can do your own
research online at these websites, the
Better Business Bureau, GuideStar,
CharityNavigator, and the American
Institute of Philanthropy’s CharityWatch.
These sites provide information about
the charity such as how much money it
raised and how much of that money was
paid in salaries and office equipment.
They will also show how much of that
money went directly to programs and
services to help people.
Nonprofits function like a business
but instead of a product to sell and profit
from, it provides a program or service to
people. If a nonprofit has additional
money that it raises, it will reinvest that
money into programs and services to
help others. A business would use that
extra money to pay the owners or
shareholders. A nonprofit will do
fundraising events like walks or dinners
to raise money to pay for their programs
and staff salaries. It might also apply for
grants from foundations and
philanthropists to pay for programs
andservices.
Just like a business, a nonprofit must
file taxes. All nonprofits file a 990 tax
form with the Internal Revenue Service
that lists all of its financial information
like salaries, who is on the board, and
what amount was spent on programs.
Nonprofits that spend the most on
programs will have a greater impact on
the people they are helping. Those that
spend more on salaries do not serve
their clients as well. Volunteer service,
charities, and philanthropy all serve to
create better communities by making a
difference in people’s lives.
Activity 5 Life Skills Workbook
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Activity 5
15
Name _________________________________________ Date _______________ Class ____________
Vocabulary
volunteer a person who offers services to a worthwhile cause for no pay
Fact and Idea Review
1. Where can you go online to research charities?
2. What kind of information do these Web sites provide about charities?
3. Describe how a nonprofit charity functions as a business?
Critical Thinking
4. Why is it important that people volunteer?
Life Skills Workbook Activity 5
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Activity 5
16
Name _________________________________________ Date _______________ Class ____________
5. How does volunteering in your community enrich your community and improve the
quality of life of others?
Extension Activity
Contact a local charity in your area and ask to interview their volunteers to better
understand the concept of volunteer service and philanthropy. Ask them why they
volunteer and how it benefits their community. What role does philanthropy,
volunteering, and charities have in developing communities and improving the quality of
life? Summarize your results.
Activity 5 Life Skills Workbook
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Activity 5
17
Name _________________________________________ Date _______________ Class ____________
Research Activity
Directions Using the information from Activity 5, answer the questions and com-
plete the activity.
1. Have you participated in a student organization? What did you do and did you
provide a service to your community?
2. What kinds of skills are needed when developing and implementing activities?
Research a local or national environmental issue. Create a plan for a campaign that
raises awareness of the environmental issue. Present your plan.
Life Skills Workbook Activity 5
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Activity 6
18
Name _________________________________________ Date _______________ Class ____________
Activity 6 Choosing a Career
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, an
Extension Activity, and a Research Activity.
Researching Careers
When you were young you may have wanted to grow up to be a firefighter or
animal trainer. Today your career goals have likely changed along with your interests.
There are personality tests and inventories you can take to assess your aptitudes and
to help you narrow your areas of interest. Once you have established your interests,
skills, and aptitudes you should consider careers and salaries. The U.S. Labor
Department tracks hundreds of occupations. It tracks how many people are in these
jobs and their annual average salaries.
Employed Average Salary
Animal Trainers 9,740 $31,110
Athletes 12,660 $87,340
Cashiers 3,354,170 $19,810
Computer programmers 333, 620 $74,900
Civil Engineers 249,120 $82,280
Dieticians and Nutritionists 53,510 $54,340
Forest and Conservation Technicians 32,290 $36,860
Firefighters 302,400 $47,730
Floral Designers 47,850 $25,030
Food Scientists 10,480 $65,380
Lawyers 561,350 $129,440
Librarians 148,240 $56,360
Occupational Health and Safety Specialists 54,680 $65,610
Pharmacy Aides 49,580 $22,830
As you can see, often the average annual salaries correspond with the amount of
education and experience required. Within each of these jobs there are differences in
what each business offers its employees in the way of benefits. One job may have a
great salary but no health insurance, while another may pay less but has health
insurance and a great training program for advancement.
Activity 6 Life Skills Workbook
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Activity 6
19
Name _________________________________________ Date _______________ Class ____________
When assessing a company’s health insurance, consider what you think health
coverage should cover at a minimum for you and for a family. For example, you might
expect coverage to
cover hospital, surgery, and doctors’ expenses.
provide full room and board for a hospital stay.
limit out of pocket expense to $3,000 per year.
pay 80 percent after a yearly $500 deductible amount has been met.
have no unreasonable exclusions.
Some companies supplement their employee benefits with educational
reimbursement and offers of stock purchases. Most businesses offer retirement plans
like pension plans or 401(k) plans that build up retirement savings for you.
Here are two offers for a sales manager position at two different companies.
Company A is located in the Midwest and Company B is located on the west coast.
Company A Company B
Annual salary $100,000 $114,000
Signing bonus $500 $0
Periodic bonuses Yes Yes
Phone allowance Yes No
Commission 5% 7%
Vacation 2 weeks 3 weeks
Personal/sick days 5 5
Stock Purchase Yes No
401(k) match (percent) 5% 3%
Medical coverage Yes No
Dental coverage Yes Yes
Vision coverage No No
Tuition reimbursement Yes No
(Continued)
Life Skills Workbook Activity 6
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 6
20
Name _________________________________________ Date _______________ Class ____________
Vocabulary
career a series of related jobs or achievements through which a person progresses in a
particular field
aptitudes natural talents
Fact and Idea Review
1. What is the relationship between income and careers?
2. What jobs from the table are related to family and consumer sciences?
3. What are some types of employer benefits available to employees?
Critical Thinking
4. How might your career goals relate to your family goals? How might this impact
whether or not you accept a job?
Activity 6 Life Skills Workbook
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Activity 6
21
Name _________________________________________ Date _______________ Class ____________
5. Consider demographic trends and geographic trends. What is the significance of
each in terms of career planning?
6. After reviewing the two employer job options from the article, which job offer
would you choose and why?
Extension Activity
Interest inventories are designed to give you feedback on your career preferences based
on the skills you have. Go online and complete a free career interest inventory. Be sure
the inventory assesses your hard skills such as what computer programs you can use,
soft skills such as your ability to work and meet deadlines, and transferable skills such
as good telephone communication skills that can be used in a number of different jobs.
Summarize your interest inventory results.
Life Skills Workbook Activity 6
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 6
22
Name _________________________________________ Date _______________ Class ____________
Research Activity
Directions Identify whether you like, dislike, or are undecided about the
items below and then answer the questions.
Advanced math
Attending sports events
Being in a science fair
Being in a play
Building things
Drawing
Foreign languages
Giving speeches
Keeping detailed reports
Playing a musical instrument
Talking to people
Volunteering
Working out
Writing creative works
Do you like to work with people and persuade or influence them?
Do you like to use your imagination and creativity?
Do you like to work with people and train and inform them?
Do you like to work outside with animals, plants, or machines?
Do you pay close attention to detail?
Do you like to work by observing, investigating and problem solving?
Explain how your responses might have helped you narrow your career search. What
career fields would you like to explore further? Research careers online that fit your
results using the Occupational Outlook Handbook or other sources.
Activity 6 Life Skills Workbook
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Activity 7
23
Name _________________________________________ Date _______________ Class ____________
Activity 7 Career Paths
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and an
Extension Activity.
Factors that Affect
CareerChoices
The career decisions you make now
will have an effect on your future and
the quality of life for you and your
family. It will also impact the community
you live in and society at large. As
technology advances the need for certain
jobs also changes. If you see that there
are fewer manufacturing jobs you may
decide to pursue a career in software
programming.
Many people find it helpful to write
out their goals along with their skills,
abilities, personal and professional goals,
short-term and long-term goals, and core
values. By reviewing this list, they can
then see how their career goals align
with their skills and values. For example,
if you decide to start your own business,
you should be self motivated. You will
likely be on-call 24 hours, seven days a
week as the primary contact for your
business. Or if you decide to go into
medicine, you should like helping people
and be willing to work long hours. These
kinds of career decisions also will
impact your personal life. Can you take
that expensive family vacation, or would
you have to work a few more years to
afford it?
You should factor in time to learn and
grow within your chosen career. You
may enjoy the idea of being a
salesperson now, however, later you may
want to start your own business.
So, an apprenticeship or accredited
business classes may be in your future.
By setting life-long learning goals, you
will increase the career opportunities
available to you.
Technology dramatically impacts how
people work. Non-human resources such
as computers, e-mail, the Internet, and
fax machines increase the amount of
work people can accomplish. They make
it easier to accomplish tasks. However,
technology has also reduced the number
of people needed in certain areas of the
workforce as one person can do the
tasks usually done by several people. In
addition to a reduced workforce,
technology also allows workers to
always be in constant contact with work
through email and cell phones. This can
disrupt the work and life balance.
Other external forces impact work and
family life. The economy can have years
of job growth and increasing pay, as well
as years of jobs loss and decreasing pay.
On another level, social changes impact
the workplace as well. During World War
II, women entered the workforce in a
large number to replace the men sent to
war. Today, women account for half of
the workforce. Remember, employees
add value to a company. Your skills,
abilities, and potential are considered a
resource, or human capital.
Life Skills Workbook Activity 7
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 7
24
Name _________________________________________ Date _______________ Class ____________
Vocabulary
apprenticeship a training program that combines classroom instruction with paid
on-the-job experience under the guidance of a skilled worker
accredited officially recognized as maintaining standards that will qualify students for
additional education or for work in their chosen profession
Fact and Idea Review
1. What is the difference between human and non-human resources?
2. How has technology affected a person’s work and personal life?
Critical Thinking
3. What are the possible impacts of individual career decisions on work and life?
4. How do social, economic, and technological changes impact work and family
dynamics?
Activity 7 Life Skills Workbook
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Activity 7
25
Name _________________________________________ Date _______________ Class ____________
5. How can individual career goals help others in your family meet their goals?
6. How do your career decisions affect the quality of life of others?
Extension Activity
You know many people who work. Ask family members and friends about their career
choices and what impact their choices have had on their family, and how they balance
work and family life. Summarize your findings. Make a list of your goals for life-long
learning and leisure opportunities for you and your family.
Life Skills Workbook Activity 7
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26
Name _________________________________________ Date _______________ Class ____________
Activity 8 Best Practices in the Workplace
Activity 8
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Employer Expectations
Interviewing Inevitably, you will sit
down face to face with a possible
employer for a job interview. Stay calm,
sit up straight, and pretend you are just
having a conversation with a regular
person. This is the time for you to
highlight your skills, abilities, and
accomplishments related to the position.
Keep your answers positive. The
interviewer wants to know if you are a
good fit for the position. He or she also
wants to know what kind of work ethic
you have and what your future career
goals are.
It is good to have a question or two to
ask the prospective employer at the end
of the interview. You can ask about the
position or the workplace. How would
you describe the workplace culture here?
Why did the last person leave the job? Do
your employees feel they have a good
work life balance? These answers will
give you a more complete picture of the
kind of place where you may be working.
You can discuss pay and benefits at a
later time. Get a business card and ask
when you might expect a decision. Use
the contact information to send a thank
you letter after the interview. Thank the
interviewer for taking time to speak with
you. You should express your continued
interest in the position and restate your
relevant skills. Your letter will help the
interviewer remember you. This is also a
chance to tell the interviewer anything
you may have forgotten to bring up
during the interview.
In the Workplace In addition to
interview best practice, you should also
be aware of some of some management
practices as these will eventually affect
you when you are working.
Best practices related to human
resources means having effective new
employee training, providing
opportunities for current employees to
develop their skills, and productive
performance appraisals. Best practices
related to economic resources means
having good compensation in the form of
salaries and benefits. Best practices
related to environmental resources
means minimizing the amount of
resources wasted.
As an employee, you will deal with a
lot of different people at different levels.
How you integrate the roles and
responsibilities you must juggle as an
employee, with your family and in your
community will be an ongoing task. But
having good communication skills and
having a good support network will help.
Listening to coworkers, customers, and
your managers shows you respect what
they have to say and allows you to
consider their needs. Learn to be able to
speak in groups. One day you will have
to present or speak in an important
meeting. When issues arise, rely on your
communication skills to talk through
problems, and remember to be
respectful toward the other person.
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27
Name _________________________________________ Date _______________ Class ____________
Activity 8
Vocabulary
work ethic a sense of responsibility to do a job well
management the process of using resources effectively to reach goals
Fact and Idea Review
1. What are some examples of management best practices?
2. What does an interviewer want to know about a prospective employee?
3. What information should you ask about during an interview? What information
should you bring up at a later time?
Critical Thinking
4. How can a person effectively integrate multiple life roles and responsibilities in
family, work, and community settings?
Life Skills Workbook Activity 8
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Name _________________________________________ Date _______________ Class ____________
Activity 8
5. How can you demonstrate respectful and caring relationships in your family, school,
workplace, and community?
Extension Activity
Research interview questions and write a script of how an effective interview might be
conducted. Role play it with a classmate.
Activity 8 Life Skills Workbook
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Name _________________________________________ Date _______________ Class ____________
Activity 9 Your Personal Finances
Activity 9
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Factors that Impact
Your Budget
Fuel Economy In 1975, two years after a
severe shortage of oil in the United
States, the U.S. Congress enacted
regulations to improve the average fuel
efficiency of cars and trucks and to help
conserve energy. In 1978, these Corporate
Average Fuel Economy standards, called
CAFE standards required passenger cars
to get 18 miles per gallon (mpg). In 2010,
passenger cars were required to get 27.5
mpg, and by 2016 they will have to get 39
mpg. Automakers that do not meet the
standards must pay apenalty.
Health Insurance In 2010, the Patient
Protection and Affordable Care Act was
passed. One of the provisions lets young
adults remain on their parents’ health
plans until the age of 26. For a young
person in school or entering the
workforce, this can save money.
These types of public policies directly
impact your personal financial decisions.
When prices at the gas pump are high,
consumers will drive less and purchase
more fuel efficient cars. This is good for
the environment and consumers’ wallets.
For a person in his or her early to mid
twenties, he or she may be able to go to
college or find a job without the stress of
finding cost-effective health insurance.
Your Budget The kinds of personal
financial decisions you make is
something that employers consider, too.
By making good personal financial
decisions you demonstrate that you can
be trusted to do the same for your
employer. When you set your long- and
short-term financial goals, prioritize
them, plan how you can budget and save
to fulfill them, and balance your
resources, you are establishing the kind
of skills employerswant.
Not making good financial decisions
can negatively affect your future.
Checking your personal financial history
is a requirement for some jobs. An
employer may refuse employment to
someone with a bad financial history,
even if the person is capable of doing the
job well.
Say you are offered a job with a higher
wage than your last job. If you have been
tracking your budget and expenses then
you will know how much of a budget
surplus you will have to set aside for a
special purchase or to set aside for
savings. A budget deficit, on the other
hand, should be a wake-up call to reorder
your financial house. Reviewing your
financial goals, reducing your spending,
and sticking to your budget can help you
reorganize your finances. Making good
personal financial decisions will
positively affect your future.
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Name _________________________________________ Date _______________ Class ____________
Activity 9
Vocabulary
budget surplus an amount by which revenue exceeds spending
budget deficit an amount by which spending exceeds revenue
Fact and Idea Review
1. What are some examples of public policy issues that impact personal financial
decisions?
2. What financial skills might an employer want you to have or exhibit?
Critical Thinking
3. Explain how public policy issues might impact your budget and financial decisions.
4. Why is it important to set financial goals and create a personal budget?
Activity 9 Life Skills Workbook
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Name _________________________________________ Date _______________ Class ____________
Activity 9
5. Why would good personal financial skills appeal to an employer?
Extension Activity
Create a personal budget. Make a list identifying your financial goals, and then narrow
that list to three primary goals. Be sure you estimate income and expenses realistically
and then balance the two for your budget. Do you have a surplus or deficit? Will you be
able to achieve your goals with your current budget? What changes can you make to
your budget to achieve your goals?
Life Skills Workbook Activity 9
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Name _________________________________________ Date _______________ Class ____________
Activity 10 Needs, Wants, and Values
Activity 10
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Managing Your Purchases
If you are a well-organized person who
makes lists and allots time for grocery
shopping and cooking, then you are likely
to save more money. If you do not plan
meals or make time to shop, and tend to
eat out frequently, then you are likely to
spend more money. Time, and how you
utilize your time, influences what you
purchase.
Resources also influence what you eat.
How much money you and your family
have will determine what you purchase.
Being a knowledgeable consumer will
also impact what you buy. If you are a
good cook or creative with ingredients,
you can buy in bulk and make recipes
from scratch rather than buying
processed convenience foods.
In addition, food choices can be
influenced by personal preferences and
outside factors. Think of some of your
favorite foods. Why do you like them?
Factors such as family, culture, religion,
region, friends, and the media can
impact what choices you make as a
consumer.
Your choices can also be impacted by
personal factors. What you purchase says
something about you. Every time you
purchase meat, vegetables, or fruit at the
grocery store you are indicating
something about your needs, wants, and
values. What types of food does your
family need to eat? What kinds of food
does your family want to eat? Remember,
needs and wants can be different things.
How do your values impact the food
you buy? For example, do you only buy
locally grown, in-season produce and
grass-fed meats or do you buy whatever
is on sale? Do you read the Daily Values
on the food labels to maximize what
vitamins and minerals you are getting? Or
do you compare the unit price to find
the best deal? These are the sorts of
questions you answer with each
purchase.
Besides food, another purchase your
family makes based on need and
personal values is gasoline. For some
people the environment is a priority, so
they will try to reduce their fuel
consumption. That means they drive fuel
efficient cars, hybrids, carpool, use
public transportation, bike or walk to the
store or the office. Others may try to
conserve fuel because the high price of
gasoline cuts into their budget, and any
benefit to the environment is secondary.
By being aware of what you are
purchasing and why, you are taking a
step toward being a responsible
consumer and using your resources
wisely.
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33
Name _________________________________________ Date _______________ Class ____________
Activity 10
Vocabulary
Daily Values nutrient reference amounts set by the U.S. Food and Drug Administration
for use on food labels
unit price the cost per unit of measurement
convenience foods foods processed in ways that make them easier to use
Fact and Idea Review
1. What is the difference between a need and a want?
2. What is an example of making a purchase based on a personal value?
Critical Thinking
3. What factors influence purchases? Explain.
4. What is the relationship between the environment and consumer resources?
Life Skills Workbook Activity 10
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34
Name _________________________________________ Date _______________ Class ____________
Activity 10
5. Why is it important to take responsibility for personal and family financial decisions
based on needs, wants, and values?
Extension Activity
It is important to take responsibility for your financial decisions. Make a list identifying
your needs, wants and values, then identifying your family’s needs, wants and values.
What financial decisions have you and your family made that were based on one or
more of these? How might your needs, wants, and values influence your future financial
decisions? Summarize your results.
Activity 10 Life Skills Workbook
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Activity 11
35
Name _________________________________________ Date _______________ Class ____________
Activity 11 Power of Persuasion
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Influencing Consumers
All advertising is designed to grab
your attention and to encourage you to
part with your money. Signs that say
“Two for One!” or “Buy One, Get One!”
are trying to catch your attention by
appearing to be a bargain. You may be
convinced that you really do need two of
something when, in reality, you may not
need it in the first place.
The affects of advertising can be
blatant or subtle. For example, an ad or
commercial may not even mention the
product until the end. By drawing you in
this way, you may not notice
immediately that a product is for sale.
The more forms of media you use the
more forms of advertising you are
exposed to. Direct mail advertising
arrives at your home in your mailbox,
infomercials and commercials reach
you through your television or radio, and
pop-up ads through your computer. Even
your outside environment has billboards
and signs to grab your attention.
By repeatedly seeing an ad the
repetition may convince you that the
brand is well established and good
quality. As a consumer you need to be
skeptical. Why is this brand familiar? Is
it the best brand as it claims? Who
decided that?
When considering buying a big ticket
item, you will probably do your research.
But for the smaller daily items you buy,
like toothpaste or granola bars, you will
think less about them. This is when ads
can influence you to buy one brand of
toothpaste over another or buy the more
expensive pet food.
If you tried to recall all the ads you
saw in a day and what products they
promoted you probably would not be
able to. In the supermarket, instead of
recalling the options you are prompted
by displays. However, the brands you
notice and the order in which you notice
them can be influenced by more than
just the display. Advertisers use cues or
images to get you to associate certain
things with an item. What brand do you
think of when you see a silhouette
dunking a basketball?
Perhaps the most recent granola bar
ad you saw had images of people hiking.
Did those images appeal to you? The
next time you see that brand you may
think of that ad and identify with that
lifestyle and buy the item.
With so many choices you may not
care which one you buy. But what you
think you are just grabbing, may be
influenced by the display stand or the
most recent ad you saw. People take an
average of 12 seconds to choose a brand
and more than half of all their buying is
simply locating the brand purchased the
last time. Little or no attention is given
to consider alternatives.
Think about the influence of
advertisements the next time you reach
for an item. Did you decide you wanted
it or did an ad decide for you?
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Activity 11
36
Name _________________________________________ Date _______________ Class ____________
Vocabulary
direct mail advertising printed advertising sent through the mail to consumers’ homes
infomercials television or radio ads that run 30 minutes or longer and are designed to
resemble programming
Fact and Idea Review
1. What are some different forms of advertising?
2. How long do people take to choose a brand?
Critical Thinking
3. Describe the effects of advertising on consumer purchases.
4. Do you think advertising is useful to consumers? Why or why not?
Activity 11 Life Skills Workbook
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Activity 11
37
Name _________________________________________ Date _______________ Class ____________
5. Why do you think it is challenging to resist impulse purchases? What can you do to
help resist these types of purchases? Why is it important to limit impulse
purchases?
Extension Activity
As a consumer you are exposed to commercials, online advertising, and printed
advertising. Tally how many ads you see, read, and hear in one day. Were most of the
ads subtle or blatant attempts to attract your attention? Which ads were effective and
which were not? Why? What influence did these ads have on you? Summarize your
results.
Life Skills Workbook Activity 11
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Activity 12
38
Name _________________________________________ Date _______________ Class ____________
Activity 12 Managing Your Resources
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Budgeting to Meet Your
Financial Goals
A budget is just a plan for controlling
spending and encouraging saving. The
purpose of a budget is to help you see
what your income and spending looks
like. Having a clear picture of how much
money you have and what you spend it
on, will allow you to evaluate your habits
and make better choices with your
money.
A budget also lets you decide how
much money you can afford to set aside
for an emergency fund, and toward your
future goals like school, buying a car or
home, or taking a trip. To create a
budget you need to estimate your
income. This should be income after
taxes, health insurance, and other
deductions have been taken out. Then,
estimate your expenses based on past
spending or averages. Creating a line in
your budget for saving may sound
strange when your budget is mostly
about spending. If you consider saving as
another budget line item that needs paid,
then you will guarantee that you will
have money saved for your future.
Most Americans spend the bulk of
their budgets on housing, followed by
transportation, and food. Health care,
life insurance, retirement, clothing, and
entertainment make up smaller amounts
of the total budget.
Discretionary expenses, such as
vacations, concert tickets, and sporting
events, are often the first and easiest to
cut from a bloated budget. Reducing
food costs requires more creativity as
you can certainly live without seeing
your favorite band play live, but you
cannot live without food. Cutting
coupons, buying generic brands, starting
a garden, or not eating out, are all ways
to manage your money. Fixed costs like
auto or health insurance can be harder
to reduce but you can shop for cheaper
car insurance or drive a less expensive
car or use your bike or public
transportation. To add money to your
budget, you or your family can work
additional hours, work toward a
promotion, or take on a second job.
A good budget can be adapted to your
circumstances. If there is a life-changing
event in your family, such as a loss or a
transfer to another state, your budget
should be able to accommodate that.
You may have to temporarily dip into
your emergency fund, and once it passes,
you can go back to your revised budget
and rebuild your savings.
Your budget should also address
long-term goals, not just what you spend
money on now but also in five even
twenty years. As an individual and family
you have goals like school or retirement.
You have to plan for these events by
setting aside realistic amounts of money
in your budget.
Activity 12 Life Skills Workbook
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Activity 12
39
Name _________________________________________ Date _______________ Class ____________
Vocabulary
saving setting aside money for future use
budget a plan for spending and saving based on income and expenses
discretionary expenses expense categories that are not absolutely necessary, such as
vacations or entertainment
Fact and Idea Review
1. What are some examples of individual and family resources?
2. What is the purpose and benefit of a budget?
3. What is the importance of having a savings plan?
Critical Thinking
4. Explain how budgeting is critical to meeting financial goals. How does a budget and
a person’s financial goals impact other life goals?
Life Skills Workbook Activity 12
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Activity 12
40
Name _________________________________________ Date _______________ Class ____________
5. How would you suggest a person should manage resources to meet his or her
financial goals over a lifetime?
Extension Activity
Come up with two short-term and two long-term financial goals. Research to find how
much money you will need to reach these goals. Create a table to show the goals and
what is needed to meet these goals. Now create a family budget to help you meet these
financial goals. For your budget, you may use your family’s expenses or research to
findthe average cost of typical budget expenses in your area. What are some areas you
can improve? Summarize how a person can better manage resources in a family budget.
Activity 12 Life Skills Workbook
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Activity 13
41
Name _________________________________________ Date _______________ Class ____________
Activity 13 The Impact of Technology
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Using Technology
Effectively
With technology, the only thing certain
is that things will change. Just think of
what your life would be like without the
Internet, your cell phone, texting, email,
or a digital camera that takes pictures and
videos. Computer technology has
advanced so rapidly in the past several
years that a cell phone that does not send
texts, or take photos is obsolete.
Technology has certainly improved
people’s quality of life by making it
easier to research and send information,
or contact a friend or the office. It can
even bring a family together through a
shared game, online research for school,
or planning a vacation. But it can also
creep into all aspects of your life and
steal time away. The technology makes it
easy to check texts from friends or
emails from work while at the dinner
table, perhaps too easy to do.
You can maximize technology to meet
your family’s needs though, rather than
letting it take over your life. You can
create a family calendar or keep a log of
appointments with deadlines and
information for the family and individual
activities. You can check off items when
they are done and send reminders to each
member in the family to get them done.
You can create and organize paperless
documents and files for a household
budget, meal plans, grocery lists, chores,
and ‘to do’ lists.
You can use TV-based devices for indoor
exercises. You can even get the whole
family involved in a virtual sporting game.
It is important to set some limits on
the use of technology. Too much
computer time and not enough personal
face time can erode relationships. It is
good to actually talk to one another,
instead of just sending a text. You can be
distracted from the people right in front
of you while you answer a text.
The cost of new technologies can be
prohibitive. You should consider how
you will use the item, how it will
improve your life, and what are the pros
and cons of purchasing it. Do you just
want it because your friends all have one
or because you saw a really neat
advertisement for it? Companies will
create a lot of hype and energy around
the release of a new product which can
influence people to make uninformed
decisions. Wait and do your research and
the price will come down.
Some companies create products
using a strategy called planned
obsolescence. A company may create a
product and then, in a few years, drop
technical support or stop updating the
program to force customers to buy a
newer version or new product.
Technology has improved our lives in
many ways. We are able to learn more
more quickly than ever before. It is
important to use that information to help
you meet your short- and long-term goals.
Life Skills Workbook Activity 13
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Activity 13
42
Name _________________________________________ Date _______________ Class ____________
Vocabulary
obsolete out- of-date and no longer useful
planned obsolescence the practice of purposely designing products to have a short life
so that consumers will be forced to replace them
Fact and Idea Review
1. What types of technology have had the greatest impact on family and consumer
decision making?
2. List ways to maximize technology to meet family goals.
3. How can you determine if you are ready for a new product? What are some possible
advantages for waiting a few months before buying new technology?
Critical Thinking
4. How has technology affected individual and family resources and the management
of these resources?
Activity 13 Life Skills Workbook
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Activity 13
43
Name _________________________________________ Date _______________ Class ____________
5. What affect has technology had on people’s quality of life? What are the positive and
negative impacts?
6. What are a few examples of possible research sources to use before buying a new
technology product? What are the advantages and disadvantages of each source?
Extension Activity
Describe the influence technology has on the environment. How would your life be
different without technology? Do you think you are better off with technology?
Summarize your responses.
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Activity 14
44
Name _________________________________________ Date _______________ Class ____________
Activity 14 Taxes and the Consumer
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Managing Taxes on
Consumer Purchases
At some point, you will need to buy a
car. You will need to decide what you
can afford and what you need in a car.
You should consider what you plan on
using the car for, how much you will
drive it, and how long will you keep it.
When buying a car it is important to do
your homework and research the price,
reviews, recalls, and automotive
problems.
A good place to start is with the price.
New car prices can cause “sticker shock”
especially if you are a first-time buyer.
Used cars prices will be much lower
because of depreciation. The Kelley
Blue Book reports market value prices
for new and used cars. It factors in
depreciation into the price, which can
drop 10 percent as soon as you drive that
new car off the lot, to a 50 percent price
drop for a car that is five years old.
Consumer Reports is a good resource to
research new or used cars, too.
Consumer Reports is a monthly
magazine printed by the Consumers
Union, a nonprofit group that does not
accept advertising, so its opinions are
independent. The company publishes
product and car reviews based on its
own testing. Edmunds provides similar
services as a private company.
A sales tax is collected only once by
the seller at the time of sale. A used car
can actually be taxed multiple times as it
is sold and resold multiple times.
The sales tax rates imposed by cities and
counties on the retail sale of goods vary
from 1 percent to 10 percent. The sales
tax on your new car can be calculated
on the total purchase price, the purchase
price after a trade-in is deducted, or the
purchase price after a cash incentive is
deducted.
With this in mind, each of these
calculations can alter your monthly car
payment. For a $25,000 new car, $10,000
trade-in, and a $2,000 cash incentive, the
vehicle sales tax could be anywhere
from $1,200 to $2,000 (based on 8%
automobile sales tax) depending on the
tax basis. These factors can affect what
kind of car you end up driving.
The sales tax is a state and local tax
assessment collected as general revenue,
which can then be used to pay for city
and state services. There is no federal
sales tax.
There are other taxes collected at the
local level, such as property taxes, which
are generally used to support public
schools. Income taxes are collected at
the local, state and federal levels. The
money collected from these taxes
supports everything from repaving roads,
to libraries, to national defense.
Additionally, payroll taxes are imposed
by the federal and all state governments,
which cover Social Security and
Medicare taxes imposed on both
employers and employees.
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 14
45
Name _________________________________________ Date _______________ Class ____________
Vocabulary
tax a required payment to a local, state, or national government
depreciation loss in value over time
Fact and Idea Review
1. What is sales tax?
2. What are examples of local, state, and federal tax assessments?
Critical Thinking
3. Research to find taxes in your state and local area. What items are taxed? How can
taxes in your area impact how you manage your finances? How can local and state
taxes impact your financial goals?
4. How might state and local taxes impact your career goals?
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Activity 14
46
Name _________________________________________ Date _______________ Class ____________
5. Why do we have taxes? What is tax money used for at the federal level, your state
level, and your local level?
Extension Activity
Compare two new vehicles using the Kelley Blue Book and Edmunds. What did you find
on these sites? Now, find out what the sales tax is in your city and county. What would
the automobile sales tax be on the two vehicles you looked up based on their total
purchase price? What is the difference between a sales tax on a new and used car?
Summarize your results.
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Activity 15
47
Name _________________________________________ Date _______________ Class ____________
Activity 15 Being Green
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Environmental Issues and
the Consumer
Reducing the amount of paper, plastic,
and electricity you use, and recycling the
trash you create, makes sense financially
and environmentally.
To conserve electricity look for high-
efficiency appliances. When purchasing
appliances, look for the labels that tell
you how energy efficient they are. The
EnergyGuide label shows you the
estimated yearly energy consumption
and estimated yearly operating cost. This
is helpful when comparison shopping.
The Energy Star label is awarded to
items that have outstanding energy
efficiency. It is found on refrigerators,
dishwashers, televisions, computers, and
even new homes and buildings.
There are many strategies to employ
to use environmental resources wisely.
For example, trees are used for building
and making paper using plantation
timber. By planting trees and waiting for
them to grow to maturity before they are
cut down, practices sustainability. Other
practices such as using wind, solar, and
thermal energy show respect for the
environment through the wise use of
resources. Iceland relies on geothermal
and hydropower energy for all of its
energy needs. California has the largest
group of geothermal power plants in the
world, which provide 60 percent of the
electricity demand for five counties.
There are specific practices you can
follow to manage waste properly,
namely, recycling. Of course, plastic,
glass, and paper can be recycled, but
other things like food waste can be
turned into compost and can help your
garden grow instead of expensive soil
additives. Rainwater from your roof can
be captured in rain barrels and used to
water your landscaping or garden saving
on your water bill. On a larger scale,
some cities and countries incinerate
trash and create electricity and heat as a
by-product.
Another way to contribute to
conservation efforts is to purchase
carbon offsets. If you plan on flying
somewhere or you drive a lot, then you
can purchase a carbon offset and your
money will fund a reforestation project
or help build a wind turbine.
The media can play a role in bringing
attention to an environmental issue as
well. In 2010, the Gulf of Mexico was
polluted with oil when an off-shore
wellhead burst and could not be capped
for three months. Images of the burning
oil platform, and beaches and animals
slick with oil moved people to donate
money to the clean up. It also alerted
people to the dangers of deepwater
drilling and they called for more
oversight so this would not happen
again.
All of these practices as well as
awareness can be great for the
environment and great for your wallet.
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 15
48
Name _________________________________________ Date _______________ Class ____________
Vocabulary
EnergyGuide label a black and yellow label, found on major appliances, that gives
information about energy consumption
Energy Star label a green and blue label awarded by the environmental Protection
Agency and the Department of Energy to products with outstanding energy efficiency
Fact and Idea Review
1. What are some strategies to employ to use environmental resources wisely?
2. What are some strategies to manage waste?
Critical Thinking
3. How can conservation and recycling efforts help you save money?
4. Why is it important to consider the environment when making consumer decisions?
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Activity 15
49
Name _________________________________________ Date _______________ Class ____________
5. How can employing these strategies impact your short-term and long-term
financialgoals?
Extension Activity
Being green is often easier said than done. Describe a time you had to strike a balance
between your personal and environmental commitments. Summarize how a person
makes decisions that weigh the personal financial costs and the environmental costs.
Life Skills Workbook Activity 15
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Activity 16
50
Name _________________________________________ Date _______________ Class ____________
Activity 16 The Environment
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Environmental Literacy
Saving Energy Most homes most likely
have many small and large appliances all
using electricity. Do you know that cell
phones, televisions, and computers all
draw energy even when turned off? The
clock on your microwave or cable box is
drawing energy even though you are not
using it. You have to unplug or disconnect
items so you can really turn them off.
Recently, one school district saved
$350,000 a year on electricity bills when it
simply placed notes above lights switches,
computers, and printers to remind people
“When not in use, turn off the juice.”
You can do a lot of other things to
conserve some of this electricity, which
is good for the environment as well as
your electricity and gas bills. Set the
thermostat a little cooler in the winter
and warmer in the summer. Turn your
water heater temperature down and use
less hot water by washing your clothes in
warm or cold water. Use fluorescent
bulbs and turn off lights when you are
not in the room. If your family is
shopping for new appliances, buy the
energy efficient appliances.
Recycling There are many ways to
reduce waste. Recycle trash and buy
products that are made of recycled
materials. Reuse items more than once
to reduce the need to replace items. You
can wash out that plastic container and
reuse it, or better yet, reuse a glass jar
instead. Bring cloth bags to the grocery
store. Repurpose the comics section of
your newspaper as gift wrapping paper.
Pesticide-Free As far back as 1962,
Rachel Carson’s research made the
connection that pesticides negatively
affect the environment. People’s reaction
to her book, Silent Spring, led to a ban
on a pesticide called DDT, which was
originally intended to kills mosquitoes
but also killed birds. Ecology is the
study of relationship between living
things and the environment. Her book
helped people realize that pollution can
seriously affect our environment. To
help, you can buy local food to reduce
the carbon footprint and buy food grown
without pesticides to reduce chemical
pollution in the soil and water.
One new trend is to create guerrilla
gardens. People drop seeds where one
would least expect to find any plant life,
such as near a bus stop. In a few weeks
some flowers or a tomato plant may
bloom. It awakens people to the idea that
we live in a natural world not just
concrete and roads.
These trends are in response to some
serious environmental issues. As a
nation, we produce tons of trash daily.
Landfills are filling up and some items
are leaching out of landfills and into our
soil and drinking water. In addition the
air is polluted by exhaust fumes,
factories that produce chemicals, and
power plants that burn coal to produce
electricity to meet our demands.
Our demands for electricity and
convenience have a price that can cause
polluted water, land, and air. The power
to affect change is in our hands.
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 16
51
Name _________________________________________ Date _______________ Class ____________
Vocabulary
ecology a science that deals with the relationships between living things and the
environment
Fact and Idea Review
1. What are some ways to conserve, reuse, and recycle resources?
2. What are some environmental trends and solutions?
Critical Thinking
3. What conservation practice do you think would impact the environment the most if
everyone did it?
4. How is a concern for the environment linked to family and consumer resources?
Life Skills Workbook Activity 16
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Activity 16
52
Name _________________________________________ Date _______________ Class ____________
5. What responsibility do people have to address environmental trends and issues?
6. Do you think one person can make a difference with global issues?
Extension Activity
Take a look around your community. What environmental issues do you notice? Is there
an old factory lot that needs cleaned up, a sewer run-off that needs reported, or a
community garden that needs tilled? What are the environmental trends and issues in
your community? What can you do to help address these issues? Summarize your
responses.
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Activity 17
53
Name _________________________________________ Date _______________ Class ____________
Activity 17 The Impact of the Consumer
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
How Do Consumers Affect
the Market?
The food on your plate arrived there
through the efforts of many people,
including suppliers, farmers, retailers,
policymakers, and finally the consumer.
What you buy sends a strong message to
producers and retailers about what you
think is important.
Cost and the nutritional quality of
food have always influenced consumer
choices. As an informed consumer, you
shop and compare prices and the quality
of food. When you evaluate your options,
keep in mind the source of the
information and the credibility of that
source. Government agencies are usually
some of the most reliable agencies to use
for information. Nonprofit organizations
are also reliable. If a company is
providing information in order to sell a
product, the information may be biased.
Always check the credibility and
reliability of your sources.
When evaluating food options you
must also consider your values and what
is important to you. For example, you
may value using organic foods or buying
from local farms. However, when
evaluating your budget, you may find that
organic vegetables are more expensive.
Organic vegetable are often more
expensive because they are handpicked
and do not use pesticides. If that is a cost
you are willing to pay, you will be
supporting a local farmer, and, on a
larger scale, helping to increase the
global demand for organic vegetables.
Sometimes an external event like a
drought can affect large sections of our
food system and increase the cost of all
food due to a lack of supply. You will
see the price of corn increase. But corn
is also used in feed for cattle, chicken,
and pigs. Corn syrup is also an
ingredient in many processed foods, so
meat, cereal, or juice prices will
increase. To offset these increases, the
government will pay farmers money, or
subsidies, to stabilize costs.
There are regulations that protect both
farmers and consumers. As our
population increases and the need for
more housing increases, farmland is
threatened. There are public policies, the
Farmland Preservation Policy Act, to
protect prime farmland and regulate
housing development so there will not be
a shortage of land or food. At the same
time, there are already housing
developments built near farmland and
existing developments next to working
farms. Local and state regulations require
environmentally safe farming practices to
protect homeowners. For example, a
farmer can be required to reduce
pesticide spraying because it will drift
onto nearby homes and yards.
The consumer, the economy, and
environment are all connected. Good
environmental farming practices like
rotating crops annually, and using
natural fertilizers, preserve farmland for
future use and benefit the environment
and consumers. The entire economy is
affected by these practices and policies.
Life Skills Workbook Activity 17
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Activity 17
54
Name _________________________________________ Date _______________ Class ____________
Vocabulary
supply the quantity of a particular product that producers are able and willing to make
available for sale at a given price
Fact and Idea Review
1. What is a public policy that addresses environmental concerns and consumer
rights?
2. What is an example of an external influence and how can it influence the economy?
Critical Thinking
3. What is the relationship among the environment, the economy, and consumers?
How are they connected?
4. How can choices consumers make impact the global economy?
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Activity 17
55
Name _________________________________________ Date _______________ Class ____________
5. The food you eat may be impacted by the region of the world in which you live.
Every region in the world has its own unique way of preparing food. Research
another culture or region of the world. Compare and contrast the food they prepare
for their meals with your own. Give examples.
Extension Activity
Research other policies that balance consumer and environmental interests. Explain
how you would craft a public policy to balance both the economy and the environment.
Summarize your results.
Life Skills Workbook Activity 17
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Activity 18
56
Name _________________________________________ Date _______________ Class ____________
Activity 18 Credit Cards
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions,
an Extension Activity, and a Concept Application.
Understanding Consumer
Credit
Before credit cards were
commonplace, people would put an item
on layaway that they wanted to buy but
could not afford immediately. The store
would keep the item until the customer
paid for it in full. Now people rely on
credit cards to pay for many items.
The typical credit card account is also
called a revolving agreement because
you make a full or partial monthly
payment to your creditor. Other types of
credit include a charge card, or interest
free plan, which is an agreement
between you and a small business to pay
the monthly balance in full with no
interest charged to you. An installment
agreement is a signed contract to repay a
fixed amount in equal payments over a
specific period of time, such as 90 days.
Automobiles or large appliances are
often funded this way.
All credit cards have something called
a Schumer box. It was named after New
York Congressman Charles Schumer
who sponsored legislation in 1988
mandating all credit cards to display
clearly the basic terms of the agreement.
All boxes look similar and contain
information about the annual fee, the
Annual Percentage Rate (APR), other
APRs (balance transfer, cash advances,
default APRs), the grace period, finance
calculation method, and other
transaction fees (balance transfers, late
payments, over-the-limit fee.)
Some credit cards come with annual
fees, which are fixed fees paid each year.
The APR is the cost of credit as a yearly
interest rate, essentially a charge for
using the credit card. Low interest credit
cards are the better choice if you do not
plan to pay the full amount each month.
All credit cards come with a credit limit,
which is the maximum balance the card
can hold at any time. Even if you do not
intend to pay off a credit card in full
each billing statement, you will have to
send a minimum payment. The minimum
payment amount is calculated as a
percentage of your balance.
Many cards allow a grace period of 20
to 25 days before your additional interest
rates are applied. Other cards have a
double billing cycle. If you pay the
balance in full one month but only
partially the following month, you will be
charge interest on both months. If you
are reported late by another creditor,
your APR can be raised with your other
creditors under the universal default
clause. Some credit cards charge fees for
credit limit increases and other services.
Be careful of credit card offers with
no annual fee; the APR interest rate
could be higher. Credit cards that offer
rewards or free airplane tickets can have
other fees. Some cards offer promotional
rates that expire after six months or a
year; know when it does and what the
new APR will be. Read the Schumer box
closely to protect your finances and your
future.
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Activity 18
57
Name _________________________________________ Date _______________ Class ____________
Vocabulary
credit the supplying of money, goods, or services at present in exchange for the
promise of future payment
creditor a business or organization that extends credit
credit limit the maximum amount of credit that a creditor will extend to a borrower
Fact and Idea Review
1. What are some forms of credit?
2. What are the differences among credit plans such as revolving charge, 90-day and
installment accounts, and interest free credit plans?
Critical Thinking
3. What are the responsibilities involved with having a credit card? Why is it important
to use your credit card responsibly? What are the consequences of not using credit
responsibly?
4. What should you be wary of when shopping for credit cards
Life Skills Workbook Activity 18
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 18
58
Name _________________________________________ Date _______________ Class ____________
5. Why do you need to understand the terms of a credit card?
Extension Activity
Review the sample credit card statement. Locate the billing period for this statement,
the annual percentage rate, and the current amount due. Use the information in the
Schumer box in on page X and find two other credit card offers online to compare the
annual fees, APR rates (including balance transfers), grace periods, and other
transaction fees (including late payments, minimum finance charge, and cash advances).
Create a spreadsheet showing your findings.
CREDIT CARD STATEMENT
Summary of Account Activity
Questions?
Call Customer Service 1-xxx-xxx-xxxx
Lost or Stolen Credit Card 1-xxx-xxx-xxxx
SEND PAYMENTS TO: BANKCENTER P.O. BOX 6575 GOLDEN, NEVADA 88777
Payment Information
Sale
Date
etaD-ot-raeY slatoT 210252 :DOIREP GNILLIB NI SYAD
Balance Subject to Interest Charge >
ANNUAL PERCENTAGE RATE >
Total fees charged $0.00
in 20XX
Total interest charged $1.13
in 20XX
01/05
Post
Date
01/07
Reference
Number
24036215006661
Type of Activity
Daisy Market
Location
Clover, IL
Amount
104.30
DEVIECER TNEMYAP3103105856
404731/1031/10
--
00.054UOY KNAHT
05.511LI ,revolCcisuM laeR4669105126304202/1081/10
09.31OM ,rialctnoMsweN n skooB1357
3305035724230/2020/20
06.4OM ,rialctnoMydnaC skciN00092305935724230/2010/
20
01/08 01/10 24692165008000
03.2TC ,gnidleiF
Statement Date
02/03/– –
Payment Date
02/28/– –
Previous
Balance
$535.07
Payments
$450.00
Purchases
$240.60
Balance
Transfers
$0.00
Cash
Advances
$0.00
Past Due
Amount
$0.00
Fees
Charged
$0.00
Interest
Charged
$1.13
New
Balance
$332.80
Credit
Limit
$1,000.00
Available
Credit
$667.20
Statement
Closing
Date
2/28/20XX
Days in
Billing
Cycle
30
Purchases Cash Advance
00.%70.58
16.00% 27.00%
$332.80
New Balance
$15.00
Minimum Payment Due
2/20/2010
Payment Due Date
Late Payment Warning If we do not receive your minimum payment by
the date listed above, you may have to pay a $35 late fee and your APRs
may be increased up to the Penalty APR of 28.99%.
Minimum Payment Warning If you make only the minimum payment each
your balance.
If you make no
additional
charges using
this card and
each month you
pay ...
Only the minimum
payment
$40
the balance
shown on this
statement in
about ...
3 months
And you will end
up paying an
estimated total
of ...
$86.91
(Savings=$2.13)
6 months $89.04
Activity 18 Life Skills Workbook
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 18
59
Name _________________________________________ Date _______________ Class ____________
Concept Application
Opening a credit card account is one way to start building your credit history. Many of
these credit card applications can be completed online. When completing a credit card
application, you must provide the following: your name, social security number,
address, how long you have lived at that address, any previous addresses, if you own or
rent, your date of birth, marital status, gross (pre-tax) annual income(s), employer, and
length of employment. Credit card companies will then use this information and
research your credit history to create a credit profile.
Credit card companies want to know what types of credit you use, and how much credit
you have used, the length of time your accounts have been open, and whether you paid
your bills on time. Two of the most important factors that credit card companies
consider are timeliness of payments and the amount of debt you have compared to your
credit limit. If you paid a bill late once, that will be noted. If you already have a credit
card, and your credit limit is $5,000 with a balance of $4,889.32 you may not receive a
credit card. If this is your first credit card, then paying your bills on time and carrying a
low monthly balance will be critical to establish a good credit history for the rest of
your life. A Schumer box is included with all credit card applications.
Critical Thinking
1. What is the default Annual Percentage Rate (APR) in the Schumer box? How can
you cause the APR to default to a higher percentage? Why is a high APR bad?
2. What other fees do you need to be aware of before you accept the terms of this
credit card?
3. Why is it critical to review the terms in the Schumer box before applying for a
credit card?
Life Skills Workbook Activity 18
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 18
60
Name _________________________________________ Date _______________ Class ____________
Activity 18 Credit Cards
Bank Disclosures
Annual Percentage Rate
(APR) for purchases
11.99% variable.
Other APRs Balance transfer APR: As long as first balance transfer is
completed within 9 months from date of account opening,
0.00% for 9 months from date of first balance transfer. After
that, 11.99% variable.
Cash advance APR: 20.99% variable.
Default APR: 29.99% variable. See explanation below.*
Variable rate information Your APRs may vary each billing period. **
The purchase and balance transfer APR equals the Prime Rate
plus 5.99%. The cash advance APR equals the Prime Rate
plus 14.99% (never lower than 19.99%).
The default APR equals the U.S. Prime Rate plus up to
23.99%.
Grace period for
repayment of the
balance for purchases
At least 20 days if you pay the total balance in full by the due
date every billing period. If you do not, you will not get a
grace period.
Method of computing the
balance for purchases
Average daily balance. This includes new purchases.
Minimum finance charge 50 cents.
Annual fees None.
Fee for purchases made
in a foreign currency
3% of each purchase after it is converted into US dollars.
Other fees Balance transfer fee: 3% of each balance transfer;
$5minimum. There is no fee with the 0.00% APR balance
transfer offer described above. Cash advance fee: 3% of
each cash advance; $5 minimum.
Late fee: $15 on balances up to $100
$29 on balances of $100 up to $250
$39 on balances of $250 and over
Over-the-credit-line fee:$35
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 18
61
Name _________________________________________ Date _______________ Class ____________
* How can your actions trigger the default APR? If you default under any card
agreement you have with us because you
1) do not make the minimum payment when due,
2) go over the credit line, or
3) make a payment to us that is not honored,
all your APRs may automatically increase to the default APR. We set your default APR
by reviewing (1) the seriousness of your default with us and (2) your credit history.
** How do we calculate variable rates? For each billing period we use the Prime Rate
published in The Wall Street Journal two business days before the Statement/Closing
Date.
How do we apply your payments? We apply your payments to low APR balances first.
You cannot pay off higher APR balances until you pay off lower APR balances. That
means your savings from any promotional APR offer will be reduced if you make
purchases or cash advances that have higher APRs.
Rates, fees, and terms may change: We have the right to change the rates, fees, and
terms at any time, for any reason, in accordance with the cardmember agreement and
applicable law. These reasons may be based on information in your credit report, such
as your failure to make payments to another creditor when due, amounts owed to
other creditors, the number of credit accounts outstanding, or the number of credit
inquiries. These reasons may also include competitive or market-related factors. If we
make a change for any of these reasons, you will receive advance notice and a right to
opt out in accordance with applicable law.
Signature
Date
(Continued)
Life Skills Workbook Activity 18
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 19
62
Name _________________________________________ Date _______________ Class ____________
Activity 19 Loans
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Understanding Your Loan
Options
Some day you will need to borrow
money for a car, for school, or a house.
It is important to understand your loan
options. You should consider what type
of loan you need for your situation and
what you feel comfortable paying. As an
informed consumer, always shop around
with several lenders to compare loan
options. This is not a formal loan
application step. If you provide basic
financial information, such as income,
assets, and debt, then lenders can
provide you with a rate.
Most loans are structured with a set
number of payments scheduled for a set
time frame anywhere from three months
to 30 years; these are installment loans.
A mortgage is a type of installment loan.
Home loans are closed-end installment
loans, and the home serves as security for
the loan. Closed-end means you cannot
change the number or amount of
payments, the maturity date or other
terms. One kind of mortgage loan requires
an oversized payment due at the end of
the life of the loan, hence the name
balloon payment. It can be a shock to
your finances to have to pay $1,000 for
your last payment when you were paying
$100 a month. These kinds of loans are
more common in commercial real estate.
Once you have been approved for a
loan and you pledge your home as
security for the loan, you have the right
to cancel the loan in writing within three
business days of signing it. This is called
your right of rescission, provided by the
Truth in Lending Act of 1968 to promote
accurate disclosures about the loan.
When shopping for loans you will be
offered many options. One option for the
loan is buying different points. Points are
fees you are willing to pay in order to get
a lower interest rate. The number of
points refers to the percentage of the
loan amount that you would pay. For
example, "2 points" means a charge of 2%
of the loan amount. You will need to
consider the immediate cost of points
with the long-term benefits of a lower
interest rate to decide if buying points is
right for you. You should research and
carefully consider all options presented
to you during the process to make sure
you get the best loan for your needs.
Some other loan types include:
Home improvement loans are closed-
end installment loans. Home equity
loans can be closed- or open-end loans.
Vehicle loans are closed-end
installment loans and can be for new
or used vehicles.
A personal line of credit is an
open-end loan with a preset limit.
Student loans cover the cost of
technical training, college, or
post-secondary school. You generally
do not have to start paying this loan
back until six to twelve months after
you leave school. These loans have
flexible repayment schedules.
Take your time while loan shopping
and compare offers from many lenders
to get the best deal for you.
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 19
63
Name _________________________________________ Date _______________ Class ____________
Vocabulary
balloon payment a final loan payment that is much larger than the other installments
right of rescission the right provided by the Truth in Lending Act, that gives borrowers
up to three business days to cancel a loan or other credit transaction for which their
home is pledged as security
Fact and Idea Review
1. How do student loans differ from personal loans?
2. How does the balloon loan differ from the installment loan?
Critical Thinking
3. Why is it important to compare loans and get offers from several lenders? What
might happen if a person accepted the first offer they received?
4. How is researching loans, lenders, and loan options a critical component to
managing your finances and helping you to meet your financial goals? Explain and
provide examples.
Life Skills Workbook Activity 19
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 19
64
Name _________________________________________ Date _______________ Class ____________
5. Research various loan options and describe each. For example, mortgage points are
one option to lower your interest rate. Why is it important to know all your options
before selecting a loan?
Extension Activity
Some day you will need to borrow money. Research loan rates online to see what kind
of interest rates and terms are available for a new and used vehicle loan, a 30-year fixed
home loan, or a student loan. Create a table or spreadsheet to present your findings
along with an explanation.
Activity 19 Life Skills Workbook
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 20
65
Name _________________________________________ Date _______________ Class ____________
Activity 20 Debt
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Managing Debt
Debt can be caused by overspending,
job loss, illness, and family issues.
Spiraling debt can be overwhelming as
late fees and interest rates pile up. Debt
can cause serious stress and serious
damage to your credit history. Saving
money or reaching your financial goals is
impossible when your money is going to
pay down debt. In some cases, filing
bankruptcy is the last resort for people
to reorganize their finances.
However, you can climb out of debt.
Your creditors will work to try to keep
you in affordable payments. You should
stop using your credit cards immediately
so as not to incur more debt. Your
number one priority should be to pay
down your debt. Debt credit counselors
can help by combining all your debt into
one loan with manageable payments.
This way you only have to pay the loan
instead of several different creditors at
several different interest rates.
You can avoid debt in the first place by
maintaining good credit. Credit scores.
range from 300 to 850. The higher the
debt load, the lower your score; the lower
the debt load, the higher your score. This
is one aspect of your score. Good credit
is established when you enter into an
agreement with a lender, and pay the
money back as agreed or sooner.
Having a good or excellent credit
rating can benefit you in many ways. It
qualifies you for credit cards with lower
interest rates, higher credit limits, more
rewards, and lower fees; basically you are
getting more money at a lower cost. Car,
home, and personal loans will have lower
interest rates, which mean lower monthly
payments for you. Your insurance rates
will decrease. You will be rewarded.
Many jobs will check your credit
history to see how you organize your
finances, which might indicate how you
would be as an employee. Government
jobs may require a security clearance,
and people with poor credit are not
given clearance for the job. Financial
jobs will require good credit so you are
not at risk of taking money to cover your
own debt. Paying yourself first is a
useful strategy to meet your goals. The
Pareto Principle or 10-10-80 rule is a
simple concept that sets aside 10 percent
of your money for savings, 10 percent for
charity, and 80 percent to living
expenses. This works well if your
income is steady. Another similar
concept with different percentage splits
is the 10-10-10-70 rule which states
youshould save 10 percent, invest
10percent, give 10 percent and live off
the remaining 70 percent. Both of these
plans have a giving, saving, and spending
aspect, which is the basis of any budget.
To avoid debt and maintain good
credit as an individual or as a family, the
same rules apply. It is critical to set
goals, establish a budget, and stick to
your budget. You need to be disciplined,
have self control, and a willingness to
sacrifice when appropriate.
Life Skills Workbook Activity 20
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 20
66
Name _________________________________________ Date _______________ Class ____________
Vocabulary
credit rating an evaluation of a consumer’s credit history
credit history a pattern of past behavior in regard to repaying debt
bankruptcy legal relief from repaying certain debts
Fact and Idea Review
1. What are the 10-10-80 or 10-10-10-70 rules?
2. How can a good or excellent credit rating benefit you?
Critical Thinking
3. What can you do to address credit and debt issues?
4. What skills are necessary to address credit and debt issues?
Activity 20 Life Skills Workbook
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 20
67
Name _________________________________________ Date _______________ Class ____________
5. Why do you think people fall so easily into the credit card trap?
Extension Activity
Consider what you need to do to establish and maintain good credit. What are your
personal and family goals in relation to credit and debt? Create a table or spreadsheet to
illustrate the steps needed to meet your goals and maintain your credit.
Life Skills Workbook Activity 20
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 21
68
Name _________________________________________ Date _______________ Class ____________
Activity 21 Savings
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Understanding Your
Savings Options
It is never too soon to start saving.
You can start now by saving for your
education using an education savings
plan. Every state sponsors 529 savings
plans, which are mutual funds that allow
a yearly contribution to grow tax free.
Each state determines the allowed yearly
maximum contribution. About half of the
states also allow a tax deduction on
contributions to 529 plans. Anyone can
contribute - parents, grandparents, aunts,
uncles, and friends. It takes as little as
$25 to start one. Because the 529 saving
plans are mutual funds, there is a fee to
manage the growth of the money which
ranges from 0%–2.5%. For example, if
you invest $10,000 and the expense ratio
is 1.5%, then you pay $150 that year. The
529 prepaid plan allows you to prepay
some or all of the tuition costs, at
today's price, and you cash the plan in
later when you are ready to start school.
The prepaid plan has restrictions if you
use the plan for an out-of-state college.
Another option for saving for college
is the Coverdell Education Savings
Account. This account can be used to
pay for college and graduate school, but
also for elementary and high school. The
maximum yearly contribution is $2,000,
which can grow tax free; it is not tax
deductible. Parents, family members,
and you can contribute to it. The money
is invested in stocks, bonds, and mutual
funds.
Another way to save money is to use a
savings account. If you are only saving
money for a short period of time or for
emergency purposes for your budget,
then a savings account will allow you
easy access to your money. Savings
accounts usually require a minimum
balance and charge a fee if you go below
it. The interest rates are usually low,
under 2 percent.
When your goals are long term, it is
best to save your money in places that
are not easy to access, especially when
the main reason is to save it. Long-term
savings options include:
A money market account is good for
long-term goals because it has a much
higher interest rate compared to a
savings account. Once you build up
enough saving, you might want to
consider a money market account. The
rate is higher if your balance is larger.
A certificate of deposit (CD),
places your money “on loan” to the
bank ranging from one month to five
years, while it earns interest for you.
You cannot access it until the time
frame is up without paying a stiff
penalty.
Savings bonds are backed by the
United States Treasury and the interest
you earn is tax-deferred. This means
you will not pay taxes on it until you
cash it out.
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 21
69
Name _________________________________________ Date _______________ Class ____________
Most financial institutions use
compounding interest to calculate
earnings. Few use simple interest.
Most banks pay compound interest.
Compound interest is interest calculated
on deposits you make and on the interest
you have already earned. The more
frequently interest is compounded, and if
you leave your money in the account, the
more you gain. When comparing interest
rates from several banks, make sure to
take note of the annual percentage yield
(APY). The APY tells you how much you
earn including the impact of compound
interest. An example of compounding
interest in action is if you deposit $1,000
at 10 percent compounding interest then
the interest earned in the first month is
$100. This interest is added to your
original amount to equal $1,100. Next
month’s 10 percent interest earned will
be on the new total of $1,100, which will
increase to $1,210.
If you are evaluating investments for
your money, the Rule of 72 is a quick and
simple method to help you estimate the
time it will take for an investment to
double. You divide the interest rate into
72 to determine the number of years in
which money will double. For example,
$1 invested at a rate of 10 percent will
take 7.2 years to double to $2. This is
why exploring several banks and their
rates is so important.
The SMART method (Specific,
Measurable, Attainable, Relevant,
Timely) is another way to help you create
a plan for achievable results.You can use
this method to set personal financial
goals, such as planning for a large
purchase, saving for college, or saving for
retirement. Specific refers to setting clear
goals. A specific goal is more likely to be
accomplished. For example, your goal
should not be “save for a new car.”
Instead, the goal should be “save $500 a
month for five months.” Measurable
refers to establishing an outcome for
your goals. You should be able to
measure the progress of your goal. You
should set target dates and keep track of
your progress. Attainable means you
should set your goals within reach.
Identify goals that are most important to
you. If the goal is important to you, you
are more likely to achieve this goal.
Relevant means that the goal should
make sense to you. This step also
stresses making your goals realistic. Only
you know if a goal is realistic for you, but
you should make sure to set realistic
time frames for your goals. Timely means
you should set a deadline to achieve your
goal. It is critical to set a deadline for
your goal. A deadline will help to keep
you focused and on track. An example of
a SMART goal is as follows: you want to
save to purchase a new computer. It will
cost $600. You plan to save $150 a month
for four months from your summer job.
Your deadline is the last day of summer,
when your job ends.
No matter how you save money,
saving money is critical to meeting your
short- and long-term financial goals.
People today are living longer. It is more
important than ever to save and invest to
prepare for your future and retirement.
The choices you make now can impact
your financial future. The options
described in the article are just a few of
the savings options available to you.
(Continued)
Life Skills Workbook Activity 21
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 21
70
Name _________________________________________ Date _______________ Class ____________
Vocabulary
simple interest interest calculated only on money deposited, not on prior interest earned
compound interest interest calculated on both deposits made and prior interest earned
money market account a type of savings account in which deposits are invested by
the financial institution to yield higher earnings
certificate of deposit (CD) a certificate issued by a financial institution to indicate
that money has been deposited for a certain term
savings bonds nontransferable debt certificates issued by the U.S. Treasury
Fact and Idea Review
1. What are some long-term savings options? What are the benefits and drawbacks of
long-term options?
2. What are some ways to save money for education? What are the drawbacks
ofeach?
3. What is the rule of 72?
4. Why is it important to save money?
Activity 21 Life Skills Workbook
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 21
71
Name _________________________________________ Date _______________ Class ____________
Critical Thinking
5. Use the SMART method to set a short and long-term goal. Remember to use the
steps: Specific, Measurable, Attainable, Relevant, and Timely.
6. Evaluate the methods of saving money that are relevant to your goals. Which
options would work best for you and your goals?
Extension Activity
Research the characteristics of the savings options from the article in your area or state.
Include any additional options you discover. Create a chart displaying the
characteristics of each savings option. Make sure to include specific details, such as
term, interest rate, and fees, as well as benefits and drawbacks of each. Finally, explain
how each savings option relates to your short- and long-term financial goals.
Life Skills Workbook Activity 21
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 22
72
Name _________________________________________ Date _______________ Class ____________
Activity 22 Investing
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Understanding Your
Investment Options
Life is full of risks such as illness,
theft of property, and accidents that can
negatively impact your finances. You can
manage risk and protect your finances
by avoiding risk, reducing it, accepting it,
or transferring the risk to someone else.
For example, if you stop rock
climbing, then your risk of injury drops
to zero, and you are effectively avoiding
that risk. The risk of a car accident can
be transferred to the insurance company
when you buy auto insurance. The risk
of a fire in the home can be reduced by
installing smoke detectors.
Some risks you learn to accept
because the risk level is so low. For
example, if you live in Florida, you will
not bother to put snow tires on your car
in the winter because the risk is so small
that it will snow in Florida. By using
these strategies, you can minimize your
financial losses.
When you invest money you want to
maximize your return. If you buy a
stock for $5 a share and sell it at $15 a
share, your return is $10 on your original
$5 investment. Some stocks may have a
lot of volatility. You may buy a stock
for $5 hoping it will increase to $20 over
the next six months, but you watch
nervously as the share prices spike,
$3one day, and then drop $5 the next.
Some stocks have a lot of risk
associated with them for that reason.
The level of risk, return, and liquidity
you are comfortable with will dictate
what investment and savings options you
will use. Public utilities stocks, such as a
power company, are an example of a
liquid investment. Homes, cars, and
retirement accounts are not liquid as
they take time to be turned into cash.
Having investments that are liquid allows
you to access cash quickly. Of course,
having some investments that are not
easily turned into cash is good since you
will not be tempted to cash them out.
Some examples of investments and
their level of liquidity include:
Certificates of Deposit (CD) have a
low risk and low return and their
liquidity can vary depending on the
term of the CD, from 3 months,
moderately liquid, to 5 years, low
liquid.
Savings accounts have low returns and
low risks but are highly liquid as you
can access your money instantly.
U.S. savings bonds and Treasury Bills
or T-Bills for short, are liquid but have
a low return and low risk.
Money market accounts have a low
risk, moderate return, and they are
also highly liquid.
Stocks in companies that are small
and new will have a higher risk and
return associated with them, whereas
older, large companies may have a
lower risk and more moderate returns.
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 22
73
Name _________________________________________ Date _______________ Class ____________
No matter what your preference is,
it is good to have varying levels of risk,
return, and liquidity in your financial
portfolio to protect you from large
losses. You do not want to rely solely on
high-risk, volatile stocks to meet your
financial goals.
Inflation is another consideration
when evaluating investments. Have you
ever heard someone lament “I remember
when a loaf of bread only cost a quarter”?
Inflation is the rise in prices of items over
time and deflation is the decrease in
prices. Inflation erodes your purchasing
power and can hurt your investments’
rate of return.
Cash investments like stocks, bonds,
mutual funds, real estate, and CDs are
affected by inflation because fluctuating
interest rates and prices are directly tied
to their rate of return. If you spend $1,000
on a stock with a rate of return of
5percent but inflation increases by
6percent, then you have lost $60 not
gained $50 as would have been expected
with no change in inflation. This is how
inflation can chip away at your money.
The U.S. Treasury sells special bonds
called a Treasury Inflation Protected
Securities (TIPS) and I Bonds that are
adjusted to protect them from the effects
of inflation. Having these in your portfolio
will protect you from the corrosive
effects of inflation.
You may need some help with creating
a diversified portfolio. A financial planner
or advisor can help, but it is important to
choose the right one. Here are some ways
to verify and evaluate their credentials:
The certified financial planner (CFP)
should be certified through the CFP
Board of Standards, Inc. which you can
verify at their Web site www.cfp.net.
Advisors should be registered with
Securities and Exchange Commission
at www.adviserinfo.sec.gov.
Planners and advisors should also be
registered with the Financial Industry
Regulatory Authority (FINRA) at
www.finra.org.
(Continued)
Life Skills Workbook Activity 22
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 22
74
Name _________________________________________ Date _______________ Class ____________
Vocabulary
return the income that an investment produces
volatility the degree to which an investment’s return or value may change
risk the possibility of variation in the return on an investment
liquidity the ease with which savings or investments can be turned into cash to be spent
portfolio collection of investments
inflation a general, prolonged rise in the price of goods and services
Fact and Idea Review
1. How does inflation affect different types of investments?
2. What should you look for in a financial advisor’s credentials?
3. How do risk, return, and liquidity affect savings and investment options?
Critical Thinking
4. What are some risk-management strategies? How do they protect against financial loss?
Activity 22 Life Skills Workbook
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 22
75
Name _________________________________________ Date _______________ Class ____________
5. What is your risk tolerance? What investment options would you prefer? How did
risk tolerance impact your decisions, and how would you manage risk?
Extension Activity
Compare and contrast the risk, return, and liquidity of savings and investment options by
creating a chart showing the investments, and another chart showing the savings options.
Research the investment options and savings accounts online.
Life Skills Workbook Activity 22
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 23
76
Name _________________________________________ Date _______________ Class ____________
Activity 23 Tax Forms
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions,
anExtension Activity, and the Concept Application.
Understanding Taxes
Taxes pay for many services that could
not be paid for by any one individual or
group. The federal government uses tax
dollars to support Social Security,
healthcare, national defense and social
services such as food stamps and
housing. States, cities, and counties use
tax dollars for public schools, roads,
prisons, garbage service, police and fire
protection, and social services.
By paying taxes, you are contributing
to the greater good of your community
and country. If you knowingly do not file
your tax returns, it is a criminal violation
of the law. The Internal Revenue Service
or IRS will audit your filings and compare
your W-4 forms. They can collect the
taxes owed, interest, and penalties.
Tax policies provide benefits to
families and individuals to offset costs
like child care, education, and economic
development. The child and dependent
care tax credit gives a maximum $3,000
credit per child for working parents. The
Hope Credit provides a maximum $2,500
tax credit for tuition costs to help pay
for college. Businesses that invest in
low-income communities receive tax
credits to encourage them to build or
start a business, or hire more people.
Most states also collect a state income
tax. The states that do not collect an
income tax will tend to have higher sales
tax or property tax rates. A tax year runs
from January 1 to December 31 and you
are required to file your federal income
tax returns by April 15.
Amount*
Gross pay $1,923.08
Federal income tax $191.06
Social security tax $80.77
Medicare tax $27.88
State income tax $89.00
City income tax $57.00
Final pay check $1477.37
* Twice weekly pay based on 26 pay periods, annual
income of $50,000.00
An employer is required to withhold
federal, state and, in some cases, local
income taxes from your paycheck.
Anemployer will also have you complete
a W-4 form which lets the employer
know how many deductions you can
take. Adeduction can be a standard
deduction, which deducts a flat rate per
person claimed, or itemized eductions
for interest on loans and charitable
donations. For every deduction claimed,
you deduct an amount of your income
from being taxed. You can claim one
deduction for yourself, one for a
non-working spouse, and one for each
child under the age of18.
States raise revenue in other ways
including sales taxes, excise taxes, license
taxes, intangible taxes, property taxes,
estate taxes, and inheritance taxes.
Depending on where you live, you may end
up paying all of them or just a few.
Property taxes are used to finance local
schools, police, road repair, and other
services. They are usually calculated by
taking the assessed value of the home and
multiplying that by the local tax rate.
Applicable exemptions are then subtracted.
Activity 23 Life Skills Workbook
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 23
77
Name _________________________________________ Date _______________ Class ____________
Vocabulary
itemized deductions on a tax return, a listing of the amounts actually spent on
tax-deductible expenses during the year
standard deduction on a tax return, a set amount that the IRS allows as a tax
deduction without the need to list actual expenses
Fact and Idea Review
1. What are examples of local tax assessments?
2. Refer to the chart in the article to compute the local, state and federal income taxes
that the person in the chart pays a year.
Critical Thinking
3. Why is it important to pay taxes? What are the consequences of not paying?
4. How do federal, state, and local government tax policies affect individuals, families,
and communities?
Extension Activity
Research your local tax assessments. Create a chart or table showing how taxes
collected in your community and state are allocated.
Life Skills Workbook Activity 23
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 23
78
Name _________________________________________ Date _______________ Class ____________
Concept Application
Review and complete the sample W-4 form.
Form W-4 (2011)
Purpose. Complete Form W-4 so that your
employer can withhold the correct federal
income tax from your pay. Consider completing a
new Form W-4 each year and when your
personal or financial situation changes.
Exemption from withholding. If you are exempt,
complete only lines 1, 2, 3, 4, and 7 and sign
the form to validate it. Your exemption for 2011
expires February 16, 2012. See Pub. 505, Tax
Withholding and Estimated Tax.
Note. If another person can claim you as a
dependent on his or her tax return, you cannot
claim exemption from withholding if your income
exceeds $950 and includes more than $300 of
unearned income (for example, interest and
dividends).
Basic instructions. If you are not exempt,
complete the Personal Allowances Worksheet
below. The worksheets on page 2 further adjust
your withholding allowances based on itemized
deductions, certain credits, adjustments to
income, or two-earners/multiple jobs situations.
Complete all worksheets that apply. However,
you may claim fewer (or zero) allowances. For
regular wages, withholding must be based on
allowances you claimed and may not be a flat
amount or percentage of wages.
Head of household. Generally, you may claim
head of household filing status on your tax return
only if you are unmarried and pay more than
50% of the costs of keeping up a home for
yourself and your dependent(s) or other
qualifying individuals. See Pub. 501, Exemptions,
Standard Deduction, and Filing Information, for
information.
Tax credits. You can take projected tax credits
into account in figuring your allowable number of
withholding allowances. Credits for child or
dependent care expenses and the child tax
credit may be claimed using the Personal
Allowances Worksheet below. See Pub. 919,
How Do I Adjust My Tax Withholding, for
information on converting
your other credits into
withholding allowances.
Nonwage income. If you have a large amount of
nonwage income, such as interest or dividends,
consider making estimated tax payments using
Form 1040-ES, Estimated Tax for Individuals.
Otherwise, you may owe additional tax. If you
have pension or annuity income, see Pub. 919 to
find out if you should adjust your withholding on
Form W-4 or W-4P.
Two earners or multiple jobs. If you have a
working spouse or more than one job, figure the
total number of allowances you are entitled to
claim on all jobs using worksheets from only one
Form W-4. Your withholding usually will be most
accurate when all allowances are claimed on the
Form W-4 for the highest paying job and zero
allowances are claimed on the others. See Pub.
919 for details.
Nonresident alien. If you are a nonresident alien,
see Notice 1392, Supplemental Form W-4
Instructions for Nonresident Aliens, before
completing this form.
Check your withholding. After your Form W-4
takes effect, use Pub. 919 to see how the
amount you are having withheld compares to
your projected total tax for 2011. See Pub. 919,
especially if your earnings exceed $130,000
(Single) or $180,000 (Married).
Personal Allowances Worksheet (Keep for your records.)
A Enter “1” for yourself if no one else can claim you as a dependent . . . . . . . . . . . . . . . . . . A
B Enter “1” if:
{
• You are single and have only one job; or
• You are married, have only one job, and your spouse does not work; or . . .
Your wages from a second job or your spouse’s wages (or the total of both) are $1,500 or less.
}
B
C
Enter “1” for your spouse. But, you may choose to enter “-0-” if you are married and have either a working spouse or more
than one job. (Entering “-0-” may help you avoid having too little tax withheld.) . . . . . . . . . . . . . .
C
D Enter number of dependents (other than your spouse or yourself) you will claim on your tax return . . . . . . . . D
E Enter “1” if you will file as head of household on your tax return (see conditions under Head of household above) . . E
F Enter “1” if you have at least $1,900 of child or dependent care expenses for which you plan to claim a credit . . . F
(Note. Do not include child support payments. See Pub. 503, Child and Dependent Care Expenses, for details.)
G Child Tax Credit (including additional child tax credit). See Pub. 972, Child Tax Credit, for more information.
If your total income will be less than $61,000 ($90,000 if married), enter “2” for each eligible child; then less “1” if you have three or more eligible children.
• If your total income will be between $61,000 and $84,000 ($90,000 and $119,000 if married), enter “1” for each eligible
child plus “1” additional if you have six or more eligible children . . . . . . . . . . . . . . . . . .
G
H
Add lines A through G and enter total here. (Note. This may be different from the number of exemptions you claim on your tax return.)
a
H
For accuracy,
complete all
worksheets
that apply.
{
• If you plan to itemize or claim adjustments to income and want to reduce your withholding, see the Deductions
and Adjustments Worksheet on page 2.
If you have more than one job or are married and you and your spouse both work and the combined earnings from all jobs exceed
$40,000 ($10,000 if married), see the Two-Earners/Multiple Jobs Worksheet on page 2 to avoid having too little tax withheld.
• If neither of the above situations applies, stop here and enter the number from line H on line 5 of Form W-4 below.
Cut here and give Form W-4 to your employer. Keep the top part for your records.
Form W-4
Department of the Treasury
Internal Revenue Service
Employee's Withholding Allowance Certificate
a
Whether you are entitled to claim a certain number of allowances or exemption from withholding is
subject to review by the IRS. Your employer may be required to send a copy of this form to the IRS.
OMB No. 1545-0074
2011
1 Type or print your first name and middle initial.
Last name
Home address (number and street or rural route)
City or town, state, and ZIP code
2 Your social security number
3
Single Married Married, but withhold at higher Single rate.
Note. If married, but legally separated, or spouse is a nonresident alien, check the “Single” box.
4
If your last name differs from that shown on your social security card,
check here. You must call 1-800-772-1213 for a replacement card.
a
5 Total number of allowances you are claiming (from line H above or from the applicable worksheet on page 2) 5
6 Additional amount, if any, you want withheld from each paycheck . . . . . . . . . . . . . . 6
$
7 I claim exemption from withholding for 2011, and I certify that I meet both of the following conditions for exemption.
• Last year I had a right to a refund of all federal income tax withheld because I had no tax liability and
• This year I expect a refund of all federal income tax withheld because I expect to have no tax liability.
If you meet both conditions, write “Exempt” here . . . . . . . . . . . . . . .
a
7
Under penalties of perjury, I declare that I have examined this certificate and to the best of my knowledge and belief, it is true, correct, and complete.
Employee’s signature
(This form is not valid unless you sign it.)
a
Date
a
8 Employer’s name and address (Employer: Complete lines 8 and 10 only if sending to the IRS.)
9 Office code (optional)
10 Employer identification number (EIN)
For Privacy Act and Paperwork Reduction Act Notice, see page 2.
Cat. No. 10220Q
Form W-4 (2011)
Activity 23 Life Skills Workbook
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P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 23
79
Name _________________________________________ Date _______________ Class ____________
Form W-4 (2011)
Page 2
Deductions and Adjustments Worksheet
Note. Use this worksheet only if you plan to itemize deductions or claim certain credits or adjustments to income.
1
Enter an estimate of your 2011 itemized deductions. These include qualifying home mortgage interest,
charitable contributions, state and local taxes, medical expenses in excess of 7.5% of your income, and
miscellaneous deductions . . . . . . . . . . . . . . . . . . . . . . . . .
1
$
2 Enter:
{
$11,600 if married filing jointly or qualifying widow(er)
$8,500 if head of household . . . . . . . . . . .
$5,800 if single or married filing separately
}
2
$
3 Subtract line 2 from line 1. If zero or less, enter “-0-” . . . . . . . . . . . . . . . . 3
$
4
Enter an estimate of your 2011 adjustments to income and any additional standard deduction (see Pub. 919)
4
$
5
Add lines 3 and 4 and enter the total. (Include any amount for credits from the Converting Credits to
Withholding Allowances for 2011 Form W-4 Worksheet in Pub. 919.) . . . . . . . . . . .
5
$
6 Enter an estimate of your 2011 nonwage income (such as dividends or interest) . . . . . . . . 6
$
7 Subtract line 6 from line 5. If zero or less, enter “-0-” . . . . . . . . . . . . . . . . 7
$
8 Divide the amount on line 7 by $3,700 and enter the result here. Drop any fraction . . . . . . . 8
9 Enter the number from the Personal Allowances Worksheet, line H, page 1 . . . . . . . . . 9
10
Add lines 8 and 9 and enter the total here. If you plan to use the Two-Earners/Multiple Jobs Worksheet,
also enter this total on line 1 below. Otherwise, stop here and enter this total on Form W-4, line 5, page 1
10
Two-Earners/Multiple Jobs Worksheet (See Two earners or multiple jobs on page 1.)
Note. Use this worksheet only if the instructions under line H on page 1 direct you here.
1
Enter the number from line H, page 1 (or from line 10 above if you used the Deductions and Adjustments Worksheet)
1
2
Find the number in Table 1 below that applies to the LOWEST paying job and enter it here. However, if
you are married filing jointly and wages from the highest paying job are $65,000 or less, do not enter more
than “3” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3
If line 1 is more than or equal to line 2, subtract line 2 from line 1. Enter the result here (if zero, enter
“-0-”) and on Form W-4, line 5, page 1. Do not use the rest of this worksheet . . . . . . . . .
3
Note. If line 1 is less than line 2, enter “-0-” on Form W-4, line 5, page 1. Complete lines 4 through 9 below to figure the additional
withholding amount necessary to avoid a year-end tax bill.
4 Enter the number from line 2 of this worksheet . . . . . . . . . . 4
5 Enter the number from line 1 of this worksheet . . . . . . . . . . 5
6 Subtract line 5 from line 4 . . . . . . . . . . . . . . . . . . . . . . . . . 6
7 Find the amount in Table 2 below that applies to the HIGHEST paying job and enter it here . . . . 7
$
8 Multiply line 7 by line 6 and enter the result here. This is the additional annual withholding needed . . 8
$
9
Divide line 8 by the number of pay periods remaining in 2011. For example, divide by 26 if you are paid
every two weeks and you complete this form in December 2010. Enter the result here and on Form W-4,
line 6, page 1. This is the additional amount to be withheld from each paycheck . . . . . . . .
9
$
Table 1
Married Filing Jointly
If wages from LOWEST
paying job are—
Enter on
line 2 above
$0 - $5,000 - 0
5,001 - 12,000 -
1
12,001 - 22,000 -
2
22,001 - 25,000 -
3
25,001 - 30,000 -
4
30,001 - 40,000 -
5
40,001 - 48,000 -
6
48,001 - 55,000 -
7
55,001 - 65,000 -
8
65,001 - 72,000 -
9
72,001 - 85,000 -
10
85,001 - 97,000 -
11
97,001 -110,000 -
12
110,001 -120,000 -
13
120,001 -135,000 -
14
135,001 and over
15
All Others
If wages from LOWEST
paying job are—
Enter on
line 2 above
$0 - $8,000 - 0
8,001 - 15,000 - 1
15,001 - 25,000 - 2
25,001 - 30,000 - 3
30,001 - 40,000 - 4
40,001 - 50,000 - 5
50,001 - 65,000 - 6
65,001 - 80,000 - 7
80,001 - 95,000 - 8
95,001 -120,000 - 9
120,001 and over 10
Table 2
Married Filing Jointly
If wages from HIGHEST
paying job are—
Enter on
line 7 above
$0 - $65,000 $560
65,001 - 125,000 930
125,001 - 185,000 1,040
185,001 - 335,000 1,220
335,001 and over 1,300
All Others
If wages from HIGHEST
paying job are—
Enter on
line 7 above
$0 - $35,000 $560
35,001 - 90,000 930
90,001 - 165,000 1,040
165,001 - 370,000 1,220
370,001 and over 1,300
Privacy Act and Paperwork Reduction Act Notice. We ask for the information on this form to
carry out the Internal Revenue laws of the United States. Internal Revenue Code sections
3402(f)(2) and 6109 and their regulations require you to provide this information; your employer
uses it to determine your federal income tax withholding. Failure to provide a properly
completed form will result in your being treated as a single person who claims no withholding
allowances; providing fraudulent information may subject you to penalties. Routine uses of this
information include giving it to the Department of Justice for civil and criminal litigation, to
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from you. See the instructions for your income tax return.
Life Skills Workbook Activity 23
076_080_BPF_A_LSW_A23_895836.indd Page 79 10/09/11 3:51 AM s-20076_080_BPF_A_LSW_A23_895836.indd Page 79 10/09/11 3:51 AM s-20/Volumes/102/GO00953/LIFE_SKILLS_WORKBOOK/NATIONAL/ANCILLARY/G1/007_895836_9_P1/Production_P1/.../Volumes/102/GO00953/LIFE_SKILLS_WORKBOOK/NATIONAL/ANCILLARY/G1/007_895836_9_P1/Production_P1/...
P rinter P DF
Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 23
80
Name _________________________________________ Date _______________ Class ____________
Review and complete the sample form I-9, which all United States employers must
complete and retain for each citizen and noncitizen they hire for employment.
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Activity 23 Life Skills Workbook
076_080_BPF_A_LSW_A23_895836.indd Page 80 10/09/11 3:51 AM s-20076_080_BPF_A_LSW_A23_895836.indd Page 80 10/09/11 3:51 AM s-20/Volumes/102/GO00953/LIFE_SKILLS_WORKBOOK/NATIONAL/ANCILLARY/G1/007_895836_9_P1/Production_P1/.../Volumes/102/GO00953/LIFE_SKILLS_WORKBOOK/NATIONAL/ANCILLARY/G1/007_895836_9_P1/Production_P1/...
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 24
81
Name _________________________________________ Date _______________ Class ____________
Activity 24 Working Families
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Work-Life Benefits
Working families have several
programs and opportunities available for
them at work through their employers.
Flex Scheduling One example is
flexible work scheduling. This allows
employees to shift their start and end
time to hours other than the standard
9-5. An employee could start at 6:00 a.m.
and end at 2:00 p.m. to be home in time
for his or her child returning from
school. This can benefit the employer if
the company works in different time
zones. It also allows a company to share
desks, computers, and telephones if the
schedules of flex-time employees do not
overlap. Another option is to work four
ten-hour days which reduces commuting
time and cost.
Telecommuting Employees can
telecommute to reduce commuting time
and cost, too. Employers can benefit by
reducing their overhead costs like saving
on heating and cooling of office spaces
while employees work from home.
Employers can also offer job sharing
where two part-time employees split the
duties of one full-time job.
Child Care Employer-sponsored child
care is another way to help balance work
and life. An employer can make full or
partial payments for the cost of child care
services, regardless of location. An
employer may also offer on-site child care,
which the employer manages. Employers
can establish accounts that the employee
funds with pre-tax contributions.
Insurance Coverage Employers also
offer free or low-cost assistance programs
to employees usually connected with
health insurance plans. Employees and
their family members can use these
programs to work through personal
issues like substance abuse, emotional
counseling, financial issues, aging parent
issues, and grief counseling.
FMLA The 1993 Family and Medical
Leave Act (FMLA) requires employers
with more than 50 employees to provide
unpaid leave when employees have a
serious health issue, or when they need
to care for a newborn, adopted or foster
child, or to care for a sick family
member. Employers are also required to
give employees their job back when they
return, or if it is unavailable then one
that is identical in pay, responsibility,
and benefits. Employees can take up to
12 weeks of unpaid leave a year. Prior to
this federal law, employers could decide
if they would hold an employee’s job or
replace them. Under FLMA, an employer
cannot seek retaliation, such as
termination, against an employee for
using 12 weeks for a family issue. The
FMLA does not apply to part-time
employees or to companies smaller than
50 employees. The federal FMLA only
applies to immediate family - parent,
spouse, and child. However, in 2008,
amendments were made to the FMLA for
military family members to include next
of kin and adult children. Other states
have added additional reasons for FMLA
time, such as, being an organ or bone
marrow donor.
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Activity 24
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Name _________________________________________ Date _______________ Class ____________
Vocabulary
telecommute to work from home using communication links to the workplace
Fact and Idea Review
1. What options are available with flexible work scheduling?
2. What options are available with employer-assistance programs and health
insurance?
Critical Thinking
3. What influence do families have on the workplace?
4. How does FMLA positively impact families?
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Activity 24
83
Name _________________________________________ Date _______________ Class ____________
5. Why do you think employers offer these programs and benefits? Explain.
Extension Activity
There are various employer plans to assists employees. Research the nature and scope
of several employer benefits for families such as the Family and Medical Leave Act
(FMLA) and employer-sponsored child care. Identify what benefits each provides to
employees. Summarize your findings.
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Activity 25
84
Name _________________________________________ Date _______________ Class ____________
Activity 25 The Decision-Making Process
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Making Decisions
When you have to consider a problem
it is helpful to be aware of the positive
and negative factors influencing your
decision-making process. Each decision
you make will have consequences. These
consequences will be negative, positive,
or a combination. In addition, the results
may only affect you, or they may affect
others. Before you make a decision,
consider the impact it will have on you
as well as others. Critical thinking is
about applying reasoning strategies in
order to make sound decisions.
Evaluating information, discerning fact
from opinion, and drawing conclusions
based on relevant criteria are strategies
that can help you make good judgments.
The decision-making process consists
of six steps. This process will help you
tomake decisions effectively. The first
step in the process is to identify the
decision. You need to know what your
goal is and what the desired outcome
willbe.
Next you should list possible options.
You need to gather information to work
and develop alternative solutions to see
which one is best. You should think of as
many options as possible.
The third step is to consider the pros
and cons of each option. Listing the pros
and cons for each alternative will let you
see very clearly which alternative is not
going to work and which might work.
Also remember to keep in mind how
each alternative might impact others.
Once you have done this, you are
ready for the next step: choosing the
decision. You are now able to make your
decision. You should select the option
that will have the most positive outcome.
The fifth step is to act on your decision.
Identify what you need to do and carry
out your decision.
The final step is to evaluate your
decision. Ask yourself: Did I make the
best choice? How did my decision
impact others? You should allow a
moment of reflection to reinforce how
you arrived at your particular decision to
learn from what you have done.
The factors that influence your
decision-making process are past
experiences, biases, age, and personal
relevance. If you have lost money buying a
risky stock, then in the future, you may not
choose a risky stock. Bias is a preference
that might prevent impartial judgment and
may influence your decision.
Your age can also affect your decision-
making process. Older people may be
more confident in their decision-making
abilities. Older people prefer to have
fewer choices then young adults.
Personal relevance refers to the fact
that when you believe what you decide
matters, then you are more likely to make
a decision. Take voting for an example, if
you really believe it matters who wins,
then you are more likely to vote. Once
you make your decision, you may regret it
or be pleased with it; either of these
feelings will influence you the next time
you use the decision-making process.
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 25
85
Name _________________________________________ Date _______________ Class ____________
Vocabulary
critical thinking applying reasoning strategies in order to make sound decisions
bias a preference that might prevent impartial judgment
Fact and Idea Review
1. What are some factors that influence the decision-making process?
2. What are the six steps in the decision-making process?
Critical Thinking
3. How do the factors influencing the decision-making process have a positive and/or
negative influence on decisions?
4. How might values of different cultures in other parts of the world impact the
decision-making process? Provide examples.
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Activity 25
86
Name _________________________________________ Date _______________ Class ____________
5. How might two people choose different paths in the decision-making process? What
are some possible reasons for their decisions?
6. What do you think would happen if a person did not consider the impact of his or
her decisions on others or did not consider alternative courses of action?
Extension Activity
Recall a time you had to make a big decision. Apply the steps of the decision-making
process. How did factors have a positive or negative influence on your decision?
Summarize your experience.
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Activity 26
87
Name _________________________________________ Date _______________ Class ____________
Activity 26 Insurance
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Risk Management
Having insurance protection as a part
of your financial planning will minimize
financial losses from accidents. Some
types of insurance include homeowners,
health, and life.
Homeowners insurance protects
property from fires, theft, or damage
fromweather. It provides coverage for
damages to the home, or lossof contents
of the homeowner. Homeowners
insurance also provides liability coverage
for accidents that may occur at the home.
For example, if someone falls off a ladder
while working on your roof, your home
insurance will pay for his or her hospital
bill. The standard amount for liability
coverage is around $300,000. Insurance
has two ways to compensate you for your
losses. They can provide you with the
actual cash value of the lost items, or they
can replace the items with comparable
new ones. The replacement coverage is
more expensive.
Another important type of insurance is
health insurance. Medical costs can
overwhelm you if you do not have
coverage. Coverage for hospital stays,
routine doctor’s visits, and prescription
drugs is a minimum requirement. Major
medical coverage is for major illnesses
when longer hospital stays, treatments,
and medicine are required. Most people
are insured through their employer,
although a self-employed person can
obtain individual health insurance policies.
Plans generally fall under two categories;
fee-for-service or managed care plans.
A fee-for-service plan allows you to
have your choice of doctors and
hospitals. You must keep good records of
your paperwork. You are charged for
each medical service and your insurance
pays a portion of that fee. The plans have
a yearly deductible such as $500 for an
individual, and $1,000 for a family.
Generally, the insurance company will
pay 80 percent and you will have to pay
the remaining 20 percent after you have
paid your deductible. Fee-for-service
plans cost a little more for the freedom
to choose doctors lost.
Managed care plans can vary but they
are similar in that they involve a network
of selected doctors and hospitals who
agree to provide care for predetermined
fees. Managed care plans emphasize
preventive care. Managed care plans
require a co-payment to be paid by the
patient to the doctor or hospital for the
visit. Co-payments vary but generally are
round $20 for a doctor’s visit and $100 for
an emergency room visit.
Life insurance should also be a part of
your financial plan. When someone dies,
his or her life insurance will provide money
to the survivors. How much life insurance
you need is correlated to how many people
depend on you to support them. Someone
who is married with children would need
more life insurance coverage than
someone who is 25 years and single. The
cost of life insurance is based on your age,
gender, health, family’s health history, your
occupation, and hobbies. To qualify for life
insurance you are required to fill out a
form that details your health history, age,
and other factors.
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 26
88
Name _________________________________________ Date _______________ Class ____________
Vocabulary
insurance purchased protection that guarantees to pay you in the event of certain
specified losses
co-payment a flat fee given to a health care provider at the time of service
liability legal responsibility to pay someone who has suffered an injury or loss caused
by another
Fact and Idea Review
1. What is liability and homeowners insurance?
2. What is health and life insurance?
Critical Thinking
3. Why is it important to have property and liability insurance as a part of individual
and family financial plans?
4. Why is it important to have health and life insurance as a part of individual and
family financial plans?
Activity 26 Life Skills Workbook
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 26
89
Name _________________________________________ Date _______________ Class ____________
5. Which type of insurance would be most important for you now and in the future?
Explain your choices.
Extension Activity
Select one type of insurance from the article. Research consumer options for this
insurance type. What is needed to apply? What factors influence costs? What choices do
you have to make for the policy and which would you choose? Where can you buy this
insurance? Who would you select as your provider and seller? Summarize your findings.
Life Skills Workbook Activity 26
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 27
90
Name _________________________________________ Date _______________ Class ____________
Activity 27 Communication
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Effective Communication
Being able to communicate clearly to
other people is important for good
relationships whether you are
communicating with family, or friends, at
school, or work.
There are different types of
communication. It can be verbal, which
refers to oral language, or nonverbal,
which refers to body language such as
posture, facial reactions, or hand
gestures. Communication can be formal
or informal depending on the situation
or the person you are addressing. Formal
communication can be used with work
or school and informal communication
can be used with your friends and family.
Some techniques to enhance
communications skills are listening,
asking questions, and being respectful of
other people’s perspective and
contributions. Not being understood can
be frustrating. People like to have their
ideas heard and considered, and other
people often provide different and
interesting perspectives.
How you say something is just as
important as what you say. “I” messages
show you are taking responsibility for
your own actions, such as “I need to
learn this program.” “You” messages can
be perceived as accusatory or blaming,
such as “You always sleep in.” “We”
messages show inclusiveness and an
ability to work together, such as “We can
rework the budget here and save some
money.”
Being able to listen and communicate
effectively to convey your message to
other people at school or work will also
help you balance your personal and
familylife.
Here is an example of using
communication in the workplace. A new
employee is asked to work overtime
tonight. She has plans that night to
volunteer at the animal shelter. Because
she is new, she may find it hard to say
no. She has options to communicate her
concerns though. She can say yes and
just cancel her plans without mentioning
it to her boss. Or she can say yes to
working late tonight, but say that she has
to reschedule her commitment.
From a management perspective, her
boss has to get an amount of work done
tonight which is why she asked her to
stay late. The manager has options to
communicate also. She can tell her
employee she has to work late. Or she
can listen and provide a solution to the
scheduling issue by offering to let her
employee return to work after she
finishes volunteering or to come in
earlier the next morning.
Both employee and manager have
something that needs done but by talking
and listening they can resolve the
scheduling problem.
How you communicate with people
and how you handle conflicts can impact
the relationships you have and how you
live your life.
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 27
91
Name _________________________________________ Date _______________ Class ____________
Vocabulary
overtime work in excess of 40 hours per week
management the process of using resources effectively to reach goals
Fact and Idea Review
1. What are some types of communication?
2. What are some techniques to enhance communications skills?
Critical Thinking
3. What kind of message do you send when you speak using “I,” “you,” and “we”
statements?
4. How is communication related to problem solving?
Life Skills Workbook Activity 27
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Activity 27
92
Name _________________________________________ Date _______________ Class ____________
5. How can nonverbal communication such as body language impact your ability to
communicate a message? How can you correct this?
Extension Activity
Create a script to demonstrate a communication technique to deal with a problem, then
role play the scenario. Evaluate if the communication process was effective. What are
some other forms of effective communication? Summarize your findings.
Activity 27 Life Skills Workbook
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Activity 28
93
Name _________________________________________ Date _______________ Class ____________
Activity 28 Stress
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Identifying Causes and
Managing Stress
School, activities, sports, friends,
family, and work all make your life
interesting and busy. But sometimes these
things mean reports, tests, practices,
games, and arguments, which can lead to
stress. Often when you try to do too
much you feel stress. Positive and
negative experiences can cause stress.
For example, performing in a play can
cause stress even if you enjoy performing.
Sometimes stress can motivate you to
meet a deadline and help you meet your
goals. However, too much stress can
have a negative impact even causing you
to get sick. Effectively managing your
time and other items in your life will help
reduce stress. Learning to cope with
stress is a good skill to have as you will
use it your entire life.
There are many methods to help
manage stress. Eating well and
exercising are two ways to alleviate
stress and maintain your mental and
physical wellness. Walking outside is
simple and can refresh your outlook on
whatever was bothering you. Sleeping
well is also important. Being well rested,
fed, and exercised will give you a better
perspective on your problem.
Another way to reduce stress is
through time management skills. Time
management helps you feel less
overwhelmed.
Like creating a budget, you need to set
goals, prioritize your tasks, and schedule
time to accomplish your tasks. At a
minimum you can write a to-do list and
set your priorities for the day or week.
Talking is another great way to
alleviate stress. Talk to your friends or
family about what is bothering you. They
may have a solution to help you or you
may just feel better once you talk about
it. Sometimes you can fixate on your
problems and lose perspective. Talking
to someone helps you regain your
perspective.
Sometimes just doing nothing helps
relieve stress. Breathing deeply and
relaxing can make stress dissipate.
Having a hobby you enjoy can also take
your mind off the things in your life that
are stressing you. You can also try doing
something for someone else. Volunteer
with a local food bank or organization
and help others. This will often give you
a feeling of pride and satisfaction and
often alleviate stress.
It is important to avoid substances and
behaviors that will harm your health.
Alcohol, tobacco, and drugs harm your
health and can endanger your life.
Engaging in risky behavior to alleviate
stress will only harm you. Stay positive
and remind yourself that stress is a part
of life, and you can work through it.
Life Skills Workbook Activity 28
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 28
94
Name _________________________________________ Date _______________ Class ____________
Vocabulary
stress physical or mental tension caused by events or situations
wellness the practice of a making a conscious effort to achieve an overall state of
well-being
Fact and Idea Review
1. What are positive stress relievers?
2. What are tips and options for managing stress?
Critical Thinking
3. What are some factors that contribute to stress among your age group?
4. How can time management be an effective stress reliever? How can you implement
this skill?
Activity 28 Life Skills Workbook
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 28
95
Name _________________________________________ Date _______________ Class ____________
5. How can stress be a positive influence in your life? Provide examples of when
stress had a positive influence and explain how stress impacted the situation and
what the outcome was.
Extension Activity
Evaluate the nature and scope of stress from a positive and negative standpoint.
Research to find the effects of long-term stress. What impact can stress have on a
person’s health? What are the effects of long-term and chronic stress? How can you
manage and prevent long-term stress? Summarize your findings and your responses.
Life Skills Workbook Activity 28
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Copyright © by The McGraw-Hill Companies, Inc. All rights reserved.
Activity 29
96
Name _________________________________________ Date _______________ Class ____________
Activity 29 Conflict
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Dealing with and
Resolving Conflict
You probably encounter numerous
opportunities for conflict to arise
through the course of your day, so it is
important to learn strategies to deal with
it. Some people avoid conflict altogether,
but conflict can also be an opportunity
to share diverse points of views, to
resolve an issue, and to create
relationships.
Conflict is not unusual and can be
started by many things including
• misunderstandings
• differing opinions
• gossip
• jealously
• prejudice
There are as many ways to diffuse
conflict as there are to start conflict.
Some conflicts are pointless, and you are
better off not wasting your energy. If a
conflict arises you can
use humor to diffuse a situation.
steer clear of conflict to allow people
to calm down, or avoid it completely.
delay or postpone the conflict.
get help from someone else. He or she
can act as a neutral third party and
listen to both sides. Mediation is
helpful when one of you is at a distinct
disadvantage, or extremely emotional.
Conflict is often caused by poor
communication. Good communication
skills are helpful in not only preventing
conflict but also resolving conflicts.
Being able to truly listen to the other
person and being able to talk clearly and
calmly about your own concerns is
critical to having a productive discussion
rather than an argument. Asking
questions to try to get a better
understanding of why someone behaves
a certain way or does something can be
helpful to you too.
When dealing with conflict it is
important to be rational and objective
about the situation. Becoming emotional,
angry, or upset will not help the situation
get resolved. It may even escalate the
conflict. Being tolerant of other people
can also prevent conflict. There is a
variety of opinions in the world. If you
are tolerant of other people’s opinions
you can learn to understand their side
and make it more likely that you will
resolve the conflict or not have a conflict
with them at all.
Sometimes conflict may seem only
negative but once you work through it
calmly you realize the result is positive.
If you manage the conflict well you can
improve relationships, build trust, and
solve problems.
Activity 29 Life Skills Workbook
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Name _________________________________________ Date _______________ Class ____________
Vocabulary
mediation a process in which two parties try to resolve a dispute with the help of a
neutral third party
Fact and Idea Review
1. What are some positive results of conflict?
2. What are some negative actions that lead to conflict?
3. How can mediation resolve conflict?
Critical Thinking
4. How can you demonstrate approaches to resolving conflict?
Life Skills Workbook Activity 29
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Activity 29
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Name _________________________________________ Date _______________ Class ____________
5. What are some strategies for preventing conflict?
6. What role does communication play in both creating conflict and resolving conflict?
Extension Activity
Most people avoid confrontations and conflict, but sometimes it is inevitable.
Summarize what factors contribute to conflict, strategies to prevent it, and positive and
negative methods for dealing with conflict. Think of a recent conflict you experienced.
Summarize both sides of the issue and describe how the conflict was resolved.
Activity 29 Life Skills Workbook
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Activity 30
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Name _________________________________________ Date _______________ Class ____________
Activity 30 Life and Career Changes
AS YOU READ, learn the Vocabulary. AFTER YOU READ, check your
understanding through Fact and Idea Review, Critical Thinking Questions, and
anExtension Activity.
Dealing with Change
There is a saying that change is the
only constant, which means that things
are never stagnant; they will change. In
your lifetime you will experience a great
deal of change. You may live in different
places due to family, school, or work.
During your career, you may have many
employers. You may resign for better
opportunities or because your job was
not a good fit for you, or you may be laid
off from a job. Layoffs can be temporary
or permanent staff reductions. You may
receive a severance package to help
with the transition to unemployment. A
severance package may include bonus
pay or other benefits.
However, you can plan for the change.
Even if you do not know if the change is
coming, you can still prepare for a job
layoff for example by having your resume
updated and a savings account with
enough money for food, bills, and house
and car payments for six to twelve
months. Being aware of how things may
change will also help you anticipate it
rather than be caught unaware or off
guard. Being prepared for change can go
a long way to helping you respond to
change when it happens.
How you deal with change will affect
your quality of life. Your perspective on
change is important. An event such as
the loss of a job, income, home, or family
will obviously have negative emotions
associated with it. Anger, sadness,
frustration are normal responses to these
changes.
But at a certain point, your response
will shift to acceptance, adaptation, and
you will want to deal with your new
situation. The sooner you can see the
opportunity in your new situation, the
sooner you will embrace the change.
Many dislike change because it pushes
them out of their comfort zone of what
they like to do. You can respond to
change by fearing it or avoiding it
(temporarily), or you can embrace it and
have a positive outlook.
Change can also create new
opportunities. If you move to a new city,
you have new places to explore and new
people to meet. Visiting your new area
can help to reduce anxiety. You can also
research the new area to learn more
about the community. If you are friendly
and show interest in others in your new
community, you will soon feel right at
home.
Change may take you outside of your
comfort zone, but it can be a chance to
grow as a person and see what you are
capable of, which is probably a lot more
than you thought.
Imagine how much has changed
already. When telephones were invented,
no one could have imagined us today
carrying cell phones around without
wires and cords. Change can be exciting
and transformative. Embrace change and
see where it takes you.
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Name _________________________________________ Date _______________ Class ____________
Vocabulary
severance package bonus pay or special benefits offered to laid-off workers
Fact and Idea Review
1. What are some situations that can lead to change?
2. What are some techniques for responding to change?
Critical Thinking
3. What role does change have in balancing work and family concerns?
4. How can you help a family member or friend deal with change?
Activity 30 Life Skills Workbook
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Activity 30
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Name _________________________________________ Date _______________ Class ____________
5. Think about new students who just moved to your community and are starting at
your school. What could you do to help them cope with this change? What
information would be helpful to them?
Extension Activity
Consider what effect change can have on how you manage your finances and how it
impacts your quality of life. What steps can you take to prepare for change? How will
this impact your personal, financial, and career goals? Summarize your results.
Life Skills Workbook Activity 30
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