13. Making a personnel budget

Everyone have unlimited wants and limited resources. Therefore, everyone will want to use their income as effectively as possible.

Every day we have to make choices: to buy or not to buy a commodity we like. With budget, our choices and alternatives become clearer. It helps us to use money more effectively.

For the beginning we must know our real income: all sources of money we can rely on. Money sources may include wages and salaries, part-time jobs, interest on saving, allowances, paid. It must be only take-home pay.

At second, we must list fixed expenses, which are set in advance and must be paid regularly. Examples of fixed expenses are rent payments, higher purchase instalments, tuition.

Then, we must list flexible expenses. They are necessary, but change with circumstances. Food, clothing, and gasoline are examples of flexible expenses.

The next step is to list optional expenses. Optional expenses vary and are not always necessary. They may include entertainment, personal care or college suppliers.

In the end, you must compare our income and expenses. Obviously, expenses should not be higher than income.

14. The value of college education

An understanding of opportunity costs and tradeoffs is important personally to high school students, as well as everyone else. Sooner or later, high school students must make choices about what to do after graduation. Every year millions of students graduate from high school. The decision they make will affect the rest of their lives. Some will choose to go to college; some will want to get full time job; others will decide to obtain technical job training. In every case, economic reasoning will help students make better choices.

They should consider the costs and tradeoffs connected with a decision to go to college and decide whether a college education is worth the expense in terms of immediate and future personal growth and economic well-being.

The opportunity costs of going to college involve a loss of practical job experience while attending college. The tradeoffs involved in going to college include using time and money now to gain greater advantages in the future.

15. Comparing prices

Buying decisions result in economic skills. Being a wise consumer is never easy. A wide variety of prices, brands, sizes, and advertising gimmicks influence consumers when they enter a store. Consider the options available, when buying something. First consumers have to decide what kind or bread you need. Eventually there are many things that influence what they buy. Some stores indicate the unit price for the items on the shelves. Although quality or kind of product contributes to the price, generally the larger the quantity, the less per unit cost. Also a very important factor influencing buyer's decision is advertising. The consumers decision is a matter of personal taste. But the decision what to buy and at what price and quality level is a personal one.

16. Finding a job

If you find work you must make several steps. First step is looking for a job openings.

Newspaper ads are a good source of job openings, also public bulletin boards in stores list job openings. Also a good idea to use private job agencies, but sometimes the private firms charge a fee or a percentage of future salary. Second step is to fill out an application. All potential employers must select candidates to interview, often using the application as a guide. Also you should understand what information is being requested, write neatly, and provide complete information.

Also you can find out something about the firm before going to the interview.

And you must be on time, dress neatly, comb his hair, be polite, answer questions thoughtfully, speak clearly, etc.