Chapter 2. WORKING, BUDGETING AND PLANNING

1
Chapter 2. WORKING, BUDGETING AND PLANNING
The Value of Your Work Your Legal and Financial
Rights as an Employee Setting and Meeting Your
Financial Goals
A. The Role of Work in Your Life B. Factors in
Choosing Your Work 1. Attitudes and
Aspirations 2. Education 3. Aptitude 4.
Personal Experience Economic
Trends
2
D. Financial Rewards
1. Pensions, Profit-Sharing and Investment
Plans 2. Insurance Benefits 3. Job Training
and Education Miscellaneous Benefits
3
E. The Job Quest
1. Selling Yourself a. Resume b.
References c. Presentation
4
F. Work and Income - Protection and
Regulation
1. Taxes Withholding, W-4, W-2 and 1040 ES 2.
Income Protection Workers Compensation,
Unemployment
Insurance and Pension Safety (ERISA) 3.
Right to Work and Discrimination Laws 4. Union
Matters 5. Garnishment Contracts
5
G. The Master Plan
1. Goal-setting 2. Prioritizing 3. Risk
Management Your Goal Worksheet
(see Text page 58)
6
The Master Plan
H. Shaping Future Goals Worksheet (see text
page 63) I. Sources for Meeting Future
Goals Income from work, saving, investing,
borrowing, windfalls J. The Financial
Statement as a Planning Tool Early warning
signal, credit gauge, risk management,
insurance, estate planning
7
TALKING POINTS Chapter Two, Number One
You boss tells you he has to cut your pay for the
foreseeable future resulting in a 25 reduction
in your take-home pay. What are the pros and
cons, and the priorities, of these options as
ways of dealing with this problem?

• A. You and/or your spouse should get a second
  job to make up for the lost income.
• B. You should cut your expenses accordingly -
  giving up what in what order?
• C. If youre a homeowner, refinance your
  mortgage to cut your monthly payment. If youre
  a tenant, negotiate with your landlord to cut
  your rent.
• D. Move into a less costly dwelling.
• E. Borrow as much as you can to help tide you
  over.
• F. Consolidate all your loans (credit cards,
  charge accounts, car financing, etc.)
• G. Quit and look for another job

8
TALKING POINTSChapter Two, Number Two
A person of opposite gender is doing the same job
that you are, but getting 25 more pay. What
remedies can you seek to equalize the pay
differential?