Ch. 15: Mrs. Rashid

1. Our Economy and You 
1. Managing Your Money 
1. Income: Knowing What You Have
1. The pay that people receive for work is called earned income.
2. fringe benefits: payments other than money that you receive for work
3. dividends: money from the profits of companies paid to people who own stock
4. disposable income: the amount of money left after taxes are paid
2. Making Financial Choices
1. fixed expenses: costs or bills that have to be paid regularly, such as every month
2. variable expenses: costs or bills that change from month to month 
2. Spending and Saving
1. Making Spending Decisions
1. People’s values affect their guiding decisions.
2. friends, salespeople, and advertisements may influence you.
3. Factors affecting Spending Decisions:
1. Price
2. Quality 
3. Features
4. Warranty: promise by the maker of a product to repair the product if it breaks within a certain time period …and Service 
5. Sales and Discounts
2. Making Savings Decisions
1. liquidity 
3. Insurance
3. Careers: Planning for the Future
1. Thinking About Careers 
2. Career Research
3. Satisfying Employers