Lesson
The Gig Economy
Summary
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.
Bellringer: Earning Without a Boss
- Students brainstorm 3+ ways to earn money this weekend without being formally employed.
- Transition to defining "independent contractor" by asking who sets the rate and schedule.
Instruction
- Cover three categories of gig work (service, skill, product) and pros/cons of contracting.
- Explain the "double tax" (full 15.3% FICA), withholding responsibilities, and business expense write-offs.
Discussion: True Cost of a Gig
- Walk through the Uber trip math—$20 earned minus expenses and taxes—to reveal actual take-home pay.
- Discuss Worker's Comp gaps and why companies prefer hiring 1099 contractors over W-2 employees.
Activity: Unleash Your Inner Entrepreneur Worksheet
- Students complete "Unleash Your Inner Entrepreneur" worksheet in pairs or individually.
- Have students note key terms as they read.
Wrap-Up & Assessment
- How much is employment tax (FICA/Social Security/Medicare) and who pays it?
- Name one gig you think you would be good at, and why the risk would be worth it.
| Est. Time | Activity | Description |
|---|---|---|
| 5 min | Bellringer: Earning Without a Boss |
|
| 15 min | Instruction |
|
| 10 min | Discussion: True Cost of a Gig |
|
| 10 min | Activity: Unleash Your Inner Entrepreneur Worksheet |
|
| 5 min | Wrap-Up & Assessment |
|
Lesson Prep
High School Personal Finance Workbook
Students complete "Unleash Your Inner Entrepreneur" on pages 13-14 of the workbook.
Class Presentation
Includes an 18-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
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.
Digital Professionalism
Your reputation online isn't built when you start job hunting—it's been building since your first post. This lesson explores how your digital footprint shapes your career and how to audit and protect your professional image.
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