Lesson Seven-C
Spending A Paycheck (continued)

Objective:

To help participants develop a spending plan (budget) that will enable them to live within their means and move towards prosperity.

 1. Review the homework from the previous session. Focus particularly on whether or not the participant is qualified for the preferred job right now and whether that job is available now. In either case, the facilitator should comment. "Are you willing to (look for that job until you find it?) or (prepare for that job until you are ready for it?)" Get participants to respond "yes." Then have them make the appropriate affirmation about their intention.
 2. Introduce spending a paycheck. Indicate that during the next few meetings, participants will be talking and thinking about money. Indicate that our paychecks provide part of the resources to help us realize our vision.
 3. Distribute the Check Stub handout. Discuss the items on the pay stub. Draw out similarities and differences. Compare the amounts withheld, benefits, and net compensation. Discuss explanations for these differences.
 4.

Draw a cluster diagram around the topic "getting paid." (Review material on Clustering: Finding Direction and Clarity.) Invite participants to suggest concerns about getting a paying job. Make sure the final list includes the following headings:

  • Type of position - full time - part time; salaried, hourly rate, commission
  • Benefits - paid leave, insurance, retirement, education, etc.
  • Deductions - taxes, Social Security, savings, etc.
  • Why some employees are paid differently
  • What you are paid for - to do a quality job, to get along, to follow rules willingly, and to obey lawful authority
  • When you get paid - weekly, bi-weekly, monthly
  • Other compensations - bonuses, merit pay, cost of living, promotions
  • Living within your means - basic needs, cost of working, savings, investments, and discretionary income
 5. After the diagram is complete, elaborate and add details about each of the main topics. Engage participants in comparing the advantages and disadvantages of the various options. Encourage them to ask questions about these and other topics that might emerge about a paying job.
 6.

Homework

Ask participants to write a short paragraph describing in particular the compensation expectations they have for the jobs for which they will be looking or preparing.

 7.

Self-Assessment

Distribute the Self-Worth Checklist. Ask participants to reflect on their behavior during this session and to honestly rate themselves. Ask them to place their evaluations in their portfolios and return to the file cabinet.