TOPIC:

The factors that affect a person’s income

RESOURCES NEEDED:

Pieces of paper and writing instruments

LEARNING OPPORTUNITY:

As children start to mature, they begin to consider more seriously what they would like to do for a career. No longer do they say that they want to be a superhero, a princess or some other glamorous fictional character. Rather, they begin to reflect their interests and talents when they indicate their thoughts about a future career. It is important, therefore, that they understand the realities associated with those careers and income levels are an important factor for them to consider. They need to understand that there are discrepancies – sometimes quite significant – between careers and that the importance of the work does not necessarily translate into financial status. It is important, therefore, to have them examine incomes associated with certain occupations and understand some of the factors that contribute to that level of income.

THE ACTIVITY:

• Begin by making a comment about a famous individual, one who appeals to your child—be it an athlete, actor, musician, etc. and asking your child how much money they think that person earns.
• Ask your child to suggest the incomes of other occupations as a comparison. That list could include doctors, teachers, truck drivers, people who work at McDonald’s, or other occupations which may have relevance to your child.
• Ask your child if they think that it is fair that there is such a large discrepancy in incomes.
• With your child, suggest that together you look at some of the reasons for this.
• Tell your child that, for fun, the two of you are going to create a mind map that will summarize your ideas. (See making a mind map below under Websites)
• Complete the mind map and then ask your child what careers they are interested in and whether or not this discussion impacted their ideas.

WEBSITES:

• How to Make a Mind Map
  https://www.wikihow.com/Make-a-Mind-Map