Boosting Your Personal Income Options
Unit Standard US28098 Level 3 - 3 Credits Year 13 Business Studies
What You'll Learn
Evaluate options to increase personal income Understand financial impacts of income decisions Compare different income strategies Make informed recommendations
Assessment Overview - US28098
3 credits at Level 3 Evaluate positive and negative financial impacts Evidence required for 3 different income options Compare options and recommend the best choice
Achievement Levels
Achieved: Evaluate impacts and compare options Merit: Provide examples of impacts on income Excellence: Include justified comparisons with detailed analysis
Quick Income Check
Think about your current income sources Write down 3 ways you could increase your income Share with a partner and discuss feasibility
Topic 1: Increasing Personal Income
Pay increases from current employment Secondary income sources Taking in boarders Unearned income options
Pay Increases
Salary negotiations and promotions Overtime and additional hours Skill development and qualifications Performance-based bonuses
Pay Increase: Pros and Cons
{"left":"Higher regular income\nBetter job security\nCareer progression","right":"Increased responsibilities\nHigher tax bracket\nMore work stress"}
Secondary Income Sources
Part-time jobs and casual work Freelancing and gig economy Small business ventures Online income opportunities
Secondary Income Brainstorm
List 5 skills you have Match each skill to a potential income source Research one option: How much could you earn? What would be the time commitment?
Taking in Boarders
Rental income from spare rooms Homestay for international students Short-term accommodation (Airbnb) Shared living arrangements
Boarders: Financial Analysis
{"left":"Regular weekly income\nUtilize existing space\nTax implications on rental income","right":"Increased utility costs\nWear and tear on property\nPrivacy and lifestyle impacts"}
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