MORRIS HILLS REGIONAL DISTRICT
MORRIS HILLS HIGH SCHOOL MORRIS KNOLLS HIGH SCHOOL
Rockaway, New Jersey Denville, New Jersey
Joseph Cacciaguida, Principal William Cleffi, Principal
PERSONAL FINANCE
COURSE OF STUDY
BUSINESS SEPTEWMBER 2008
INSTRUCTIONAL AREA DATE
DR. ERNEST PALESTIS
SUPERINTENDENT OF SCHOOLS
DR. JOHN MUCCIOLO
ASSISTANT SUPERINTENDENT OF
CURRICULUM & INSTRUCTION
PREPARED BY LAUREN JACKSON
TECHNOLOGY LITERACY STANDARDS
8.1 All students will use technology skills and tools to gather and organize information and to solve problems.
CAREER EDUCATION AND LIFE SKILLS
9.1 All students will develop career awareness and planning, employable skills, and foundational knowledge
necessary for success in the workplace.
9.2 All students will demonstrate critical life skills to be successful members of society.
PERSONAL FINANCE
PHILOSOPHY
Being able to successfully manage your personal finances is a very valuable skill. This course will provide important
information about buying, saving, and spending. Students will learn how to avoid many financial mistakes and how to
make good decisions that will lead to a prosperous future.
Personal Finance
Grades 9-12; 5 Credits; One-Year Elective
This course is designed to provide the knowledge needed to solve a wide variety of financial issues. The students are
given the tools necessary to address the challenges of living on their own, such as bringing home a paycheck, utilizing a
checking and savings account, renting an apartment, purchasing a house, purchasing a car, budgeting, and using credit.
Personal Finance is a practical course that helps students become more informed consumers and avoid common
mistakes.
The following New Jersey Core Curriculum Content Standards will be addressed in the course of study.
9. Career Education and Consumer, Family and Life Skills
STANDARD 9.1 (Career and Technical Education) All students will develop career awareness and planning, employability skills, and
foundational knowledge necessary for success in the workplace.
A. Career Awareness/Preparation
1. Re-evaluate personal interests, abilities, and skills through various measures including self assessments.
2. Evaluate academic and career skills needed in various career clusters.
3. Analyze factors that can impact an individual’s career.
4. Review and update their career plan and include the plan in a portfolio.
5. Research current advances in technology that apply to a selected occupational career cluster.
B. Employability Skills
1. Assess personal qualities that are needed to obtain and retain a job related to career clusters.
2. Communicate and comprehend written and verbal thoughts, ideas, directions, and information relative to educational and
occupational settings.
3. Select and utilize appropriate technology in the design and implementation of teacher-approved projects relevant to
occupations and/or higher educational settings.
4. Evaluate the following academic and career skills as they relate to home, school, community, and employment:
Communication
Punctuality
Time management
Organization
Decision making
Goal setting
Resources allocation
Fair and equitable competition
Safety
Employment application skills
Teamwork
5. Demonstrate teamwork and leadership skills that include student participation in real world applications of career and
technical education skills.
STANDARD 9.2 (Consumer, Family, and Life Skills) All students will demonstrate critical life skills in order to be functional members
of society.
A. Critical Thinking
1. Apply communications and data analysis to the problem-solving and decision making processes in a variety of life situations.
2. Describe and apply constructive responses to criticism.
B. Self-Management
2. Apply project planning and management skills in academic and/or occupational settings.
C. Interpersonal Communication
1. Model interpersonal and effective conflict resolution skills.
2. Communicate effectively in a variety of settings with a diverse group of people.
D. Character Development and Ethics
1. Analyze how character influences work performance.
3. Discuss consequences and sanctions when on-the-job rules and laws are not followed.
E. Consumer and Personal Finance
1. Analyze factors that influence gross and net income.
2. Design, implement, and critique a personal financial plan.
3. Discuss how to obtain and maintain credit.
4. Prepare and use skills for budget preparation, making predictions about income and expenditures, income tax preparation,
and adjusting spending or expectations based on analysis.
5. Use comparative shopping techniques for the acquisition of goods and services.
6. Analyze the impact of advertising, peer pressure, and living arrangements on personal purchasing decisions.
7. Evaluate the actions a consumer might take in response to excess debt and personal financial status.
8. Analyze the interrelationships between the economic system and consumer actions in a chosen career cluster.
PERSONAL FINANCE
TABLE OF CONTENTS
UNIT TITLE TIMELINES PAGE
Career Decisions 10 weeks 1A
1
Chapters 1, 2, 5
Money Management 8 weeks 4A
2
Chapters 6, 7, 8, 9
Financial Security 2 weeks 8A
3
Chapter 10
Credit Management 10 weeks 9A
4
Chapters 16, 17, 18, 19
Resource Management 10 weeks 13A
5
Chapter 20, 21, 22, 23
UNIT #1 CAREER DECISIONS
INSTRUCTIONAL OBJECTIVES SUBJECT MATTER CONTENT
Chapter 1: Choosing Your Career Careers of the Future
Major Occupational Groups
Students will be able to: Job Titles and Descriptions
1. Understand career and job trends. Job Analysis
Positive and Negative Features of Employment
2. Describe sources of job information. Entrepreneurship
3. Complete a job analysis. Coping With Change
Read Widely
4. Describe positive and negative features of potential Be a Lifetime Learner
career choices. Take Classes
Complete a Self-Assessment
5. Describe the techniques for coping with change.
Changing Career Opportunities
6. Explain changing career patterns and the need for
Long-Term Planning
job networking.
World Economy
7. Understand entrepreneurship and the risks involved Networking
in starting your own business.
1A
Chapter 2: Planning Your Career Why People Work
Students will be able to: Factors Affecting Career Choice
Values and Lifestyle
1. List reasons why people work and factors that affect Aptitudes and Interests
career choices. Personal Qualities
2. Identify and describe good career planning Career Planning
techniques. Steps in Career Planning
Importance of Goals
3. Differentiate among short-term, intermediate, and Role of Experience
long term goals, and the importance of setting goals.
Sources of Job Opportunity Information
4. List sources of job opportunity information and Contacts
explain good job search techniques.
School Counseling and Placement Services
Public and Private Employment Agencies
Newspaper, Yellow Pages, and Private Job Listings
Online Job Information
Job Search Techniques
Get Organized
Make a Plan
Follow Up
Don’t Give Up
2A
Chapter 5: Work Laws and Responsibilities Required Work Forms
Form W-4
Students will be able to: Form W-2
Social Security Form
1. Discuss the purpose of various work-related forms. Work Permit Application
2. Explain provisions of major employment laws. Employment Laws
Social Security Act
3. Understand employee and employer responsibilities Unemployment Compensation
at work. Fair Labor Standards Act
Workers’ Compensation
Family and Medical Leave Act
Equal Pay Act
Civil Rights Act of 1964
Age Discrimination in Employment Act
Americans with Disabilities Act
Responsibilities on the Job
Responsibilities to Employers
Responsibilities to other Employees
Responsibilities to Customers
Employer Responsibilities
Adequate Supervision
Fair Human Resource Policies
Safe Working Conditions
Open Channels of Communication
Recognition of Achievement
Compliance with Employment Laws
3A
UNIT #1 CAREER DECISIONS
SUGGESTED TIME ALLOTMENT— 10 WEEKS
INSTRUCTIONAL ACTIVITIES INSTRUCTIONAL MATERIALS ASSESSMENT
Chapter 1 Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Career Research Project-- Thomson South-Western, 2006 Student Workbook
students choose a career and
research the following: Completion of Career Assessment at
education, work Workbook: Managing Your Personal Peterson’s Online Prep Solution.
characteristics, salary, job Finances, Fifth Edition
outlook, positive and negative Thomson South-Western, 2006 Preparation of a report on a career of
features. Students will use their choice using the information found
various career exploration and Internet at the Occupational Outlook Handbook
career planning websites to (US Department of Labor website) and
gather their data. Study Guide Coin website.
2. Complete a job analysis. Career Planning Websites: Students will give oral presentations on
their career choice.
3. Research the COIN
accomplishments of a famous www.coin3.com Prepare a poster describing the life of
entrepreneur. the entrepreneur chosen.
Peterson’s Total Online Prep Solution
4. Graffiti wall activity sharing http://www.guidancenet.com/GuidanceN
characteristics of etTOPS/default.asp?sponsor=8846
entrepreneurs.
http://online.onetcenter.org
www.bls.gov/oco
1B
Chapter 2 Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Outline the steps in career Thomson South-Western, 2006 Student Workbook
planning.
Workbook: Managing Your Personal Analyze their plan that outlines the
2. Set various short-term, Finances, Fifth Edition steps they can take to prepare for a
intermediate, and long-term Thomson South-Western, 2006 job, and include ways to improve their
goals and share. preparation techniques.
Internet
3. Find ads for jobs from various
sources to share with class. Newspapers
4. Outline a plan to get a job. Job postings in Guidance office
2B
Chapter 5 Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. KWL (What do you know? Thomson South-Western, 2006 Student Workbook
Want to know? What have you
learned?) on work-related Workbook: Managing Your Personal Presentation of responsibility posters.
topics—minimum wage, work Finances, Fifth Edition
laws, work forms. Thomson South-Western, 2006 Complete sample work forms.
2. Learn how to fill out common Internet Research the New Jersey and United
work forms and understand States’ work laws for minors and
their purposes. www.state.nj.us (labor and child labor prepare a presentation on these
laws) important facts.
3. Jigsaw activity to learn and
explain different work laws. Study Guide Research the varying minimum wages
in different states throughout the
4. Create posters outlining Sample W-2 Form country. Reflect on why minimum wage
employer and employee in some areas of the country may be
responsibilities. Sample W4 Form higher than others.
Sample Job Application Form
3B
UNIT #2 MONEY MANAGEMENT
INSTRUCTIONAL OBJECTIVES SUBJECT MATTER CONTENT
Chapter 6: Pay, Benefits, and Working Conditions Gross Pay, Deductions, and Net Pay
Hourly Wages, Overtime, Salary
Students will be able to: Deductions, Net Pay
Self-Employed Requirements
1. Compute gross pay, payroll deductions, and net pay.
Benefits and Incentives
2. Compute overtime pay. Profit Sharing
Paid Vacations and Holidays
3. Identify optional and required employee benefits and Employee Services, Child Care
recognize their value. Sick Pay and Leaves of Absence
Insurance, Bonuses and Stock Options
4. Explain several flexible job arrangements.
Pension and Savings Plans
5. Describe the role of unions and professional Travel Expenses
organizations in the workplace. Evaluating Employee Benefits
Flexible Work Arrangements
Altered Workweeks
Job Rotation
Job Sharing
Permanent Part-Time and Telecommuting
Labor Unions and Professional Organizations
Functions of Unions
Types of Unions
Professional Organizations
4A
Chapter 7: Federal Income Tax Types of Taxes
Students will be able to: Components of the Tax System
IRS
1. Describe the purpose of taxes and different types of The Power to Tax
taxes in the United States. Paying Your Fair Share
IRS Audit
2. Describe components of the US tax system.
Definition of Tax Form Terms
3. Understand the concept of filing taxes. Filing Status
Exemptions
4. Identify different tax forms. Gross Income
Adjusted Gross Income
Taxable Income
Tax Credits
Preparing to File
Who Must File?
When to File?
Which Forms to Use?
Where to Begin?
Filing Electronically
Preparing Your Income Tax Return
Tax Preparation Software
Form 1040EZ
Form 1040A
5A
Chapter 8: Budgets and Financial Records Importance of Financial Planning
Students will be able to: Preparing a Budget
Steps in preparing a budget
1. Describe and prepare a personal budget. A typical monthly budget
2. Explain the purpose of record keeping. Personal Records
Records of Income and Expenses
3. Prepare a net worth statement and personal property Net Worth Statement
inventory. Personal Property Inventory
Tax Records
6A
Chapter 9: Checking Accounts and Other Banking Purpose of a Checking Account
Services
Opening a Checking Account
Students will be able to:
Parts of a Check
1. Describe the purpose of a checking account.
Using Your Checking Account
Writing Checks
2. Understand how to prepare banking forms. Paying Bills Online
Making Deposits
3. Be able to distinguish between different types of Using a Checkbook Register
checking accounts. Reconciling Your Checking Account
4. Understand how to use and maintain a checkbook Endorsing Checks
register.
Types of Checking Accounts
5. Understand how to reconcile your checking account. Joint Accounts
Special Accounts
6. Understand how to endorse a check. Standard Accounts
Interest-Bearing Accounts
7. Describe various banking services. Share Accounts
8. Identify services for which banks commonly charge Other Banking Services
fees. Guaranteed-Payment Checks
Money Orders
Debit Cards
Bank Credit Cards
Automated Teller Machines
Online and Telephone Banking
Stop Payment Orders
Safe Deposit Boxes
Loans and Trusts
Financial Services
Bank Fees
7A
UNIT #2 MONEY MANAGEMENT
SUGGESTED TIME ALLOTMENT— 8 WEEKS
INSTRUCTIONAL ACTIVITIES INSTRUCTIONAL MATERIALS ASSESSMENT
Chapter 6 Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will compute gross pay Thomson South-Western, 2006 Student Workbook
of various jobs.
Workbook: Managing Your Personal Accurate computation of gross pay,
2. Students will calculate overtime Finances, Fifth Edition overtime, net pay
pay based on a given hourly Thomson South-Western, 2006
wage.
Internet
3. Students will calculate net pay
given gross pay and deductions. Study Guide
4. Students will review state laws Sample pay stubs to calculate gross
regarding minimum wage and pay, overtime, deductions, and net
working conditions for minors. pay.
Sample tax table to look up
withholdings
4B
Chapter 7 Sample Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will differentiate Thomson South-Western, 2006 Student Workbook
among proportional,
progressive, and regressive Workbook: Managing Your Personal Students will correctly categorize taxes
taxes. Finances, Fifth Edition into progressive, regressive, or
Thomson South-Western, 2006 proportional.
2. Students will research the role
of the IRS. Internet Identify and label parts of different tax
return forms.
3. Students will use the tax www.irs.gov
brackets to determine various
tax rates. Study Guide
4. Students will compare various Sample tax forms
income tax return forms.
5. Students will research who must
file, when to file, and what form
to use when filing tax returns.
6. Students will research the
different terms involved in filing
a tax return.
5B
Chapter 8 Sample Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will keep track of their Thomson South-Western, 2006 Student Workbook
expenses for a given amount of
time. Workbook: Managing Your Personal Essay reflecting what they learned
Finances, Fifth Edition from keeping track of their expenses.
2. Students will create a budget. Thomson South-Western, 2006 Address why this process is important
when preparing a budget.
3. Students will create a net worth Internet
statement.
Study Guide
4. Students will understand
purposed of contracts and Sample budgets
warranties.
Graphic Organizer
5. Complete graphic organizer
defining the elements of an
enforceable contract.
6B
Chapter 9 Sample Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will keep a fictitious Thomson South-Western, 2006 Student Workbook
checking account for a “month”
Workbook: Managing Your Personal Completion of checking account
2. Students will reconcile account Finances, Fifth Edition simulation
with bank statement at the end Thomson South-Western, 2006
of the month.
Activity Book: Your Checking Account:
3. Students will complete Jigsaw Lessons in Personal Banking, Third
activity to teach each other Edition
check topics.
Internet
4. Students will be knowledgeable
of various types of checking Study Guide
accounts that banks offer.
7B
UNIT #3 FINANCIAL SECURITY
INSTRUCTIONAL OBJECTIVES SUBJECT MATTER CONTENT
Chapter 10: Saving for the Future Why You Should Save
Short-term needs
Students will be able to: Long-term needs
Home ownership
1. Describe different purposes of saving. Education
Retirement
2. Explain how compound interest works and compute Investing
Financial Security
compound interest.
How Your Money Grows
Compound interest
3. Explain the features and purposes of different
Where You Can Save
savings options. Commercial banks
Savings banks
4. Explain several ways to save money. Savings and loan associations
Credit unions
Brokerage firms
Savings Options
Regular Savings Account
Certificate of Deposit
Money Market Account
Selecting a Savings Plan
Liquidity
Safety
Convenience
Interest-earning potential (yield)
Fees and restrictions
Saving Regularly
Direct deposit
Automatic payroll deductions
8A
UNIT #3 FINANCIAL SECURITY
SUGGESTED TIME ALLOTMENT— 2 WEEKS
INSTRUCTIONAL ACTIVITIES INSTRUCTIONAL MATERIALS ASSESSMENT
Chapter 10 Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will discuss the Thomson South-Western, 2006 Student Workbook
different types of needs that
people need to save for. Workbook: Managing Your Personal Accurate computation of simple and
Finances, Fifth Edition compound interest
2. Students will research different Thomson South-Western, 2006
banks in the area and the Presentation on banking services and
different types of accounts and Internet accounts.
services they offer. Present
findings to the class. Study Guide
3. Students will compute simple
and compound interest and
understand why compounding
interest will earn more.
4. Students will discuss factors to
consider when choosing a
savings plan.
8B
UNIT #4 CREDIT IN AMERICA
INSTRUCTIONAL OBJECTIVES SUBJECT MATTER CONTENT
Chapter 16: Credit in America Development of Credit
In the past
Credit today
Students will be able to:
The Vocabulary of Credit
1. Describe how credit developed in America. Borrower, debtor
Creditor
2. Discuss the advantages and disadvantages of using Capital
credit. Collateral
Repossessed
Principal
3. List and describe the different types of credit
Balance due
available. Finance charge
Minimum payment
4. Compare various sources of credit. Installment agreement
Advantages of Credit
Disadvantages of Credit
Kinds of Credit
Open 30-Day Accounts
Revolving Credit Accounts
Credit Card Terms
Closed-End Credit
Service Credit
Sources of Credit
Retail Stores
Credit Card Companies
Banks and Credit Unions
Finance Companies
Pawnbrokers
Private Lenders
Other Sources of Consumer Credit
9A
Chapter 17: Credit Records and Laws Credit Records
Your Credit File
Students will be able to: How Information is Gathered and Used
Types of Information Stored
1. Understand the importance and purpose of credit
records. Creditworthiness—5 C’s of Credit
Character
2. Describe the 5 C’s of credit. Capacity
Capital
3. Understand how to get started using credit. Conditions
Collateral
4. Describe credit ratings and a point system for
determining creditworthiness. Getting Started With Credit
Begin with a savings account
5. Describe the different parts of a credit report. Open a checking account
Open a store credit account
6. Discuss the protections provided by major credit Get a small loan
laws. Apply for a credit card
Credit Ratings
Credit Reports
Credit Laws
Consumer Credit Protection Act
Fair Credit Reporting Act
Fair Credit Billing Act
Equal Credit Opportunity Act
Fair Debt Collection Practices Act
10A
Chapter 18: Responsibilities and Costs of Credit Responsibilities of Consumer Credit
Responsibilities to Yourself
Students will be able to: Responsibilities to Creditors
Creditors’ Responsibilities to You
1. Describe the responsibilities of consumer credit.
Protecting Yourself form Credit Card Fraud
2. Discuss identity theft and ways to protect your credit Safeguarding Your Cards
card from fraud. Protecting Your Cards Online
3. Explain how you can reduce or avoid credit costs, Avoiding Unnecessary Credit Costs
and why costs may vary.
Why Credit Costs Vary
4. Compute simple interest and APR.
Computing the Costs of Credit
5. Compare and contrast methods of computing finance Simple interest formula
charges on revolving credit. Annual percentage rate formula
Credit card billing statements
Adjusted balance method
Previous balance method
Average daily balance method
Credit
T
11A
Chapter 19: Problems With Credit Solving Credit Problems
The 20/10 Rule
Students will be able to: Credit Counseling
Debt Adjustment
1. Explain methods for solving credit problems. Credit Repair
Credit Scams
2. Outline bankruptcy laws and choices.
Bankruptcy
3. Discuss the major causes of bankruptcy. Bankruptcy Laws and their Purposes
Types of Bankruptcy
4. Describe the advantages and disadvantages of Involuntary
bankruptcy. Voluntary
Chapter 11 bankruptcy
Chapter 7 bankruptcy
Chapter 13 bankruptcy
Legal Advice
Reaffirmation of Debts
Major Causes of Bankruptcy
Job Loss
Emotional Spending
Failure to Budget and Plan
Catastrophic Injury or Illness
Advantages of Bankruptcy
Disadvantages of Bankruptcy
12A
UNIT #4 CREDIT IN AMERICA
SUGGESTED TIME ALLOTMENT— 10 WEEKS
INSTRUCTIONAL ACTIVITIES INSTRUCTIONAL MATERIALS ASSESSMENT
Chapter 16 Sample Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will research history of Thomson South-Western, 2006 Student Workbook
credit in America.
Workbook: Managing Your Personal A reflective essay on why it is
2. Students will discuss and Finances, Fifth Edition important to use credit carefully.
understand common credit Thomson South-Western, 2006 Address advantages and
vocabulary terms. disadvantages, as well as safe sources
Internet of credit.
3. Students will weigh the
differences between the Study Guide
advantages and disadvantages
of credit.
4. Students will complete Jigsaw
activity to learn about the
different kinds of credit and
different sources of credit that
are available to consumers, as
well as their risks.
9B
Chapter 17 Sample Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will understand the Thomson South-Western, 2006 Student Workbook
importance of a credit record
and how information is gathered Workbook: Managing Your Personal Students will write a letter responding
and used. Finances, Fifth Edition to a question from a student regarding
Thomson South-Western, 2006 how to get started with credit. They
2. Students will complete graphic will address the steps that person can
organizer to list and explain the Internet take to get started, and explain why
“5 C’s of Credit”. having good credit is important for their
www.equifax.com credit rating and credit report.
3. Students will list the ways one www.experian.com
can get started with credit. www.transunion.com
4. Students will explain the Study Guide
purposes of credit ratings and
credit reports.
5. Students will discuss and
understand credit laws and how
they protect consumers.
10B
Chapter 18 Sample Activities: Text: Managing Your Personal End of Chapter quiz or test
1. Students will complete a Graffiti Finances, Fifth Edition
Wall activity to come up with Thomson South-Western, 2006 Student Workbook
responsibilities of consumer
credit—responsibilities to yourself, Workbook: Managing Your Personal Accurately compute simple interest,
to the creditor, and the creditor’s Finances, Fifth Edition finance charges, and APR.
responsibilities to you.
Thomson South-Western, 2006
2. Students will research credit card Credit card scenario
fraud cases and share with class. Internet
Discuss ways to safeguard credit Presentation on credit card interest
cards and protect your identity Study Guide rates
when using them.
Sample credit reports
3. Students will list ways to avoid
unnecessary credit costs. Graphic organizer
4. Students will outline the different www.bankrate.com
costs associated with credit and
why they vary.
5. Students will compute the cost of
credit, using the terms principal,
rate, time, interest.
6. Students will compute finance
charges and annual percentage
rate (APR)
7. Students will compare and contrast
different credit card billing
statements.
8. Students will compare credit card
interest rates from the Internet.
9. Students will complete a credit
card scenario to find the potential
cost of credit if it is overused and
not paid off in a timely manner.
11B
Chapter 19 Sample Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will recognize credit Thomson South-Western, 2006 Student Workbook
problems that may arise and
ways to solve them. Workbook: Managing Your Personal Given a certain situation, the students
Finances, Fifth Edition will provide certain suggestions to
2. Students will discuss various Thomson South-Western, 2006 solve the credit problem.
bankruptcy laws and their
purposes. Internet
3. Students will distinguish Study Guide
between the different types of
bankruptcy and recognize the Sample interest problems
circumstances in which an
individual or company would file.
4. Students will discuss and list the
different causes of bankruptcy.
5. Compare and contrast the
advantages and disadvantages
of bankruptcy.
12B
UNIT #5 RESOURCE MANAGEMENT
INSTRUCTIONAL OBJECTIVES SUBJECT MATTER CONTENT
Chapter 20: Personal Decision Making Opportunity cost
Basic needs
Students will be able to: The Decision-Making Process
Define the Problem
1. Apply the decision-making process to solve Obtain Accurate Information
consumer problems. Compare Choices
Make a Decision
2. Explain economic needs and wants that influence Take Action
consumer decision making.
Economic Wants and Needs
3. List and describe factors that influence spending Individual wants
decisions. Collective values
4. Analyze marketing strategies that influence spending Factors that Influence Spending
decisions. Personal Factors
Outside Factors
Planning Major Purchases
Marketing Strategies that Influence Spending
Advertising
Pricing
Sales
Promotional techniques
13A
Chapter 21: Renting a Residence Housing Alternatives
On-campus housing
Students will be able to: Apartments
Duplexes
1. Describe several housing rental alternatives. Condominiums
Houses
2. Describe the elements of a rental application, rental
Living Arrangements
inventory, and lease. Where to Live
What to Take
3. Describe landlord and tenant responsibilities.
Planning Your Move
Group Financial Decisions
Moving Costs
Installation Charges
Advantages and Disadvantages of Renting
Rental Agreements
Leases and Month-to-Month Agreements
Rental Inventory
Landlord and Tenant Responsibilities
Landlord Obligations
Tenant Obligations
14A
Chapter 22: Buying a Home Advantages of Home Ownership
Equity Increases
Students will be able to: Tax Savings
Quality-of-Life Advantages
1. Discuss the advantages of home ownership.
Costs and Responsibilities of Home Ownership
2. Describe the costs and responsibilities of owning a Down Payment
Mortgage
home. Closing
Property Taxes
3. Describe the steps in the home-buying process. Insurance
Utilities
4. Discuss how to obtain financing and describe the Maintenance and Repairs
closing process. Finding and Selecting a Home
Working with a Real Estate Agent
Making an Offer
Obtaining Financing
Down Payment Sources
Qualifying for a Mortgage
Taking Title to Property
15A
Chapter 23: Buying and Caring for a Vehicle Steps in the Car-Buying Process
Identify Your Needs and Wants
1. Describe the process of buying a car. Determine What You Can Afford
Identify and Research Your Choices
2. Explain automobile leasing costs, processes, Decide Whether to Buy New or Used
Get Credit Pre-Approval
advantages, and disadvantages. Research Insurance Rates
Search for Available Vehicles
3. Understand consumer protection available for new Test Drive Each Vehicle
Check the History of a Used Vehicle
and used car buyers. Get the Vehicle Checked Mechanically
Determine a Fair Price
4. Identify the costs of owning and maintaining a Negotiate the Price
Dealer Add-Ons
vehicle.
Financing Your Car
5. Describe methods for extending the life of your care Financial Institutions
Care Dealers
and maintaining its resale value.
Leasing A Car
Consumer Protection For Car Buyers
Lemon Laws
The FTC Used-Car Rule
Cost of Operating a Car
Gas and Oil
Depreciation
Registration and Title
Maintenance and Repairs
Accessories
Extending the Life of Your Car
Maintain Fluid Levels
Perform Routine Maintenance
Keep Your Car in a Garage
Preserve the Exterior and Interior
Follow Wise Driving Habits
16A
UNIT #5 RESOURCE MANAGEMENT
SUGGESTED TIME ALLOTMENT— 10 WEEKS
INSTRUCTIONAL ACTIVITIES INSTRUCTIONAL MATERIALS ASSESSMENT
Chapter 20 Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will define the steps in Thomson South-Western, 2006 Student Workbook
the decision-making process.
Workbook: Managing Your Personal Marketing Strategies log
2. Students will differentiate Finances, Fifth Edition
between needs and wants and Thomson South-Western, 2006
identify collective values.
Internet
3. Students will complete a Graffiti
Wall activity to list various Study Guide
factors that influence spending
(personal and outside factors)
4. Student will list the steps to take
to plan a major purchase.
5. Students will identify and
explain the marketing strategies
that influence spending.
6. Students will keep a log of the
marketing strategies that they
notice for the span of a week
(television, radio, newspaper,
magazines, packaging at stores,
product placement)
13B
Chapter 21 Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will list various housing Thomson South-Western, 2006 Student Workbook
alternatives available to people.
Workbook: Managing Your Personal Students will present results of
2. Students will list things to Finances, Fifth Edition apartment search
consider when choosing living Thomson South-Western, 2006
arrangements and planning to
move. Internet
3. Students will differentiate Study Guide
between the advantages and
disadvantages of renting. Sample lease agreement
4. Students will understand the www.gsmls.com
terms of a lease and month-to-
month agreement.
5. Students will list all tenant and
landlord responsibilities.
6. Students will “apartment-hunt”
to find apartments within certain
budgets.
14B
Chapter 22 Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will discuss and be Thomson South-Western, 2006 Student Workbook
able to explain the advantages
and costs of home ownership. Workbook: Managing Your Personal House Project
Finances, Fifth Edition
2. Students will research the role Thomson South-Western, 2006 Student presentations of House Project
of a real estate agent and how
to look for and select a home. Internet
3. Students will learn the process Study Guide
of making an offer on a house
and understand the real estate
terminology involved in
purchasing a house.
4. Students will compare the
different ways to obtain
financing and the different types
of mortgages available to home
buyers.
5. Given a price, students will
search for a home in two
separate parts of the country
and compare.
15B
Chapter 23 Activities: Text: Managing Your Personal End of Chapter quiz or test
Finances, Fifth Edition
1. Students will research the steps Thomson South-Western, 2006 Student Workbook
in the car buying process.
Workbook: Managing Your Personal Car project
2. Share car buying experiences. Finances, Fifth Edition
Thomson South-Western, 2006
3. Use Internet to learn how to
research the history of a used Internet
vehicle.
Study Guide
4. Compare and contrast the
positive and negative points
when leasing and financing a
vehicle.
5. Students will the types of
protection consumers have
when purchasing a vehicle.
6. Students will research the costs
of maintaining a car as well as
ways to extend the life of your
car.
7. Students will research the costs
of financing and leasing a
vehicle and report monthly
payments.
16B