Managing Finances and Budgeting Plan and evaluate income and expenditures. Earning A Living Explore various forms of income and analyze factors that affect income. Insurance Plan for protection against risk and financial loss. Investors / Savings Using assets to earn income to meet goals. Banking Services provided by financial institutions.
How does budgeting affect our future?
How does earning a living effect our lifestyle?
How do you determine the amount of insurance needed for risks that you will encounter?
What is the power of investment?
What services would an ideal bank provide?
1) Construct and use an income/expense plan and evaluate it. 2) Categorize expenses and determine discretionary income. 3) Describe how income/spending patterns change throughout the life cycle for the typical person and family.
4) Explain taxes and how they affect purchasing power.
8) Identify and explain the type of insurance associated with different kinds of risks.
11) Identify advantages / disadvantages of various savings/investing plans. 12) Develop financial goals for the future based on one’s lifestyle expectations and career choices. 13) Develop a financial plan using various investing opportunities to meet financial goals.
14) Identify and compare various types of services provided by financial institutions. 15) Accurately complete the steps involved in various services offered (e.g. bank reconciliation) 16) Demonstrate understanding of electronic transfers.
5) Discuss how personal choices, experiences, technology, 9) Explain why insurance needs change education/training other factors correlate throughout the life cycle. with earning a living. 10) Identify suppliers of insurance. 6) Discuss how income from employment is affected by factors such as supply and demand, geographic location, level of education, type of industry, union membership, productivity, skill level, and ethics. 7) Identify other types of income.
Credit Immediate buying power with ability to pay later. Buying Goals / Services Maximizing consumer satisfaction when buying goods/services. Personal Decision Making Rational decision-making process as it applies to the roles citizens, workers, consumers. Why are decision-making skills important for personal finance?
How does credit affect our lives?
What is the importance of an informed consumer?
17) Explain when and why borrowing is used for the purchase of goods and services. 18) Identify various types of credit and the costs of each. 19) Identify the components listed on credit report and explain how that information is used.
20) Apply a rational decision-making process to personal buying decisions. 21) Identify and describe consumer assistance services provided by public and private organizations (e.g. government, Better Business Bureau, and manufacturers.) 22) Identify the advantages / disadvantages of purchasing, leasing and renting.
23) Apply opportunity costs and tradeoffs to personal decision making. 24) Apply the decision-making process to various types of decisions at different stages.