Choosing how to save and spend money

Choosing employment

When looking for a job to make money, what other factors need to be considered?

If you would like, you can complete this activity using TVO Mathify. You can also use your notebook or the following fillable and printable document.

A student is saving money for their tuition, so they are trying to find work during the summer months. They have found two jobs, and need to pick which one they want to commit to.

• Option A: Watering and caring for plants at a garden centre. They will work 6 hours a day at an hourly rate of $12 for 5 days each week. The garden centre is walking distance from their house.
  
  
• Option B: Painting decks and fences with a landscaping company. They will work 6 hours a day at an hourly rate of $18 for 5 days each week. They will spend an average of $15 daily on gas to drive to each job site and will spend $35 a week on supplies.

Help this student weigh each option and decide which is the best job for them. Give reasons for your decision.

How much money do I have to live on?

Task 1: Annual salary

Think of a future job or career that you would like to have one day. Research the average annual salary of this type of work.

Record your findings in an audio recording, on paper, or on a computer.

Task 2: Fixed and variable expenses

Create your own budget based on your net income. Research what your average fixed and variable living expenses would be based on where you want to live, what method of transportation you want to use, lifestyle, etc.

Use an audio recording, a speech to text software, a spreadsheet, or a table to list all your monthly expenses. Compare the totals with your income.

Complete the Budget: Fixed and Variable Expenses in your notebook or use the following fillable and printable documents.

Many young people, who start living independently, quickly realize that they cannot afford the same lifestyle they had when they were living with their parents.

Even adults have a hard time making and sticking to a budget. Reflect on what this activity has taught you about the challenges of budgeting.

Reflection

As you read the following descriptions, select the one that best describes your current understanding of the learning in this activity. Press the corresponding button once you have made your choice.

Now, expand on your ideas by recording your thoughts using a voice recorder, speech-to-text, or writing tool.

When you review your notes on this learning activity later, reflect on whether you would select a different description based on your further review of the material in this learning activity.

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