Earning and managing money

• Earning and managing money

  Ways to earn money and how to manage it
• Ways to earn money

  • Wages
  • Salary
• Wage


  A payment for a weeks work, calculated on an hourly basis
• Types of employment


  • Permanent employment
  • Casual employment
• advantages to wages

  • Includes superannuation, sick and holiday pay.
  • overtime payments for extra work
• salary advantages

  • No superannuation, sick or holiday pay
  • Paid for hours worked only
• Jobs with salaries

  • Teachers
  • Nurses
• Example salary: $120,000 per year
• Calculating weekly salary

  Annual salary / 52 weeks = $2,307.69 per week
• Wages are fixed and do not increase with extra work
• Wages provide a lower incentive to work extra hours