1. Identify 3 jobs you would be interested in doing once you finished highschool. For each job describe the type of schooling required, the pay you would could expect at the beginning of your career, any benefits that would come with the job, and any job related expenses. (e.g. equipment, tools, parking).

2. Pick one of the above jobs and using the starting wage find your deductions for CPP, EI, Income tax (both federal and BC) and other deductions (e.g. union fees, medical, life insurance) and calculate net pay.

3. Using the same job above, write a personal budget based on the net pay found in #2. Be sure to include the following deductions: Rent/Mortgage, Groceries, Transportation, Utilities, Telephone (and Internet access), Clothing, Personal Care, Insurance, Entertainment, Savings (minimum 10% of pay)

4. Payday game: For this game, you must have the following sheets filled out:
   1. "Worksheet #1" (work out a different budget than the one above, remembering you will be making between $8 and $15/ hour for 38 hours a week). Do the budget for the month and then multiple by 12 and divide by 52 to get weekly expenses.
   2. "Getting Started on Your Job"
   3. "Application for Employment" :assume you have only completed high school at this point in time.
   4. "Time Sheet" :you should have 4 of these, one for each week. Your starting and finishing time for each day should be noted as well as total time. Remember if you arrive on time and do not leave class early that counts as an 8 hour day and a 6 hour day on Friday. You must deduct 10 minutes for every minute you are late or leave early. If you are absent, you do not get paid for that day!
   5. "Salary Record" :you should record your salary for each week "worked" (there will be 4 weeks in total) including all appropriate deductions. Assume you are claim code 0 for Income Tax.
   6. "Savings Account" :use $100.00 for your Balance Forward. Each week you add 10% of your net pay.
   7. g) "Balance Sheet" :your balance forward the first week is $0. For every week after that it is the final balance from the week before. Total expenses is the figure from Worksheet 1. Savings is 10% of net pay for that week.

Back to Essentials of Math 10 course materials page.