Lesson
Income Types
Summary
There are different ways to earn income, and different compensation plans used by employers. This lesson discusses hourly, overtime, salary, commissions, passive income, and more.
Bellringer: The Dream Gig
- Students choose between compensation types for a hypothetical dream job.
- Debrief: ask why they chose based on pros or cons of each option.
Instruction
- Walk through earned income types, passive income, and portfolio income.
- Pause on "What if you can't work?" to connect passive and portfolio income as financial safety nets.
Discussion: Pros & Cons
- Facilitate group discussion on pros and cons of hourly, salary, commission, and freelance income—covering predictability, earning caps, and personality fit.
- Ask students which type appeals most to them and why.
Activity: Life Scenarios Warm-Up
- Students complete the Life Scenarios warm-up activity, applying income concepts from the lesson and previewing upcoming topics.
Wrap-Up & Assessment
- Give an example of passive income.
- Name two income types with a pro and con.
| Est. Time | Activity | Description |
|---|---|---|
| 5 min | Bellringer: The Dream Gig |
|
| 10 min | Instruction |
|
| 10 min | Discussion: Pros & Cons |
|
| 15 min | Activity: Life Scenarios Warm-Up |
|
| 5 min | Wrap-Up & Assessment |
|
Lesson Prep
Life Scenarios Warm-Up
Introduce students to basic financial scenarios.
Class Presentation
Includes a 15-slide deck with teacher notes. Present from Banzai, download a PDF, or copy it to Google Slides.
Presentations, Ready to Go
- Built-in PresentationPresent full screen, straight from Banzai
- Copy to Google SlidesMake an editable copy for your class
- Download or PrintSave as a PDF or print
- Teacher NotesSlide-by-slide guidance, printable as one handout
Unit 2: Career Exploration & Market Realities
Human Capital
Every business in the world runs on human capital. Human capital is the sum of characteristics and skills that an employee brings to the table. This lesson covers basics about first jobs, including federal protections.
Income Types
There are different ways to earn income, and different compensation plans used by employers. This lesson discusses hourly, overtime, salary, commissions, passive income, and more.
The Gig Economy
Working as an independent contractor can be a risky and rewarding way to make a living. This lesson covers the financial elements of being an independent contractor, including employment taxes, pros and cons, and tax write-offs.
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