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									                                             Managing Your Personal Finances
                                                      Topic Guide

IT.PF.10     Examine components of a financial planning process that reflects the distinction between needs
             and wants, values, goals, and economic resources.

      Indicators                 Topics                              Class Activities                        Assessing
                                                                                                             Knowledge
IT.PF.10.01 Assess
opportunity costs
impacted by values and
goals.
IT.PF.10.02 Define and   Wants and needs          Choices lesson plan:
give examples of         Opportunity costs        http://fefe.arizona.edu/curriculum.php?categoryID=7#20
economic wants and                                     Monthly choices made by teens
needs.                                                 Calculate gains and minuses
                                                       Determine balance sheet
IT.PF.10.03 Category
expenses as fixed or
variable.
IT.PF.10.04 Determine
discretionary income in a
budget.
IT.PF.10.05 Develop         Spending plan (budget) Lesson plan and activities:
financial goals for the                               http://fefe.arizona.edu/curriculum.php?categoryID=20#60
future based on lifestyle
expectations and career
choices.
IT.PF.20        Demonstrate management of individual and family resources including food, clothing, shelter, health
                care, recreation, and transportation.
IT.PF.20.01 Analyze the
budgeting process and
create a budget.




July 2008                                                                                                     Page 1
       Indicators                  Topics                        Class Activities                       Assessing
                                                                                                        Knowledge
IT.PF.20.02 Evaluate a
monthly spending plan
compared to actual
monthly expenses.
IT.PF.20.03 Apply           Food              Food: Lesson Plan and activities:
comparison shopping         Auto purchasing   http://fefe.arizona.edu/curriculum.php?categoryID=10#31
practices.                  New vs. used           Shopping or a week’s worth of groceries
                            Lemon laws             Stay within a budget
                            Auto insurance         Prepare menus and shopping list
                            Auto loan         Transportation: researching an automobile lesson plan:
                                              http://fefe.arizona.edu/curriculum.php?categoryID=21#72
                                                    Pre-planning within a budget
                                                    New vs. used chart
                                                    Compare stickers
                                                    PowerPoint and worksheet
                                                    Self assessment on needs and wants
                                                    Comparison chart of three vehicles
                                                    Scenarios
                                                    Loan variable cards
                                              Auto insurance comparisons
                                              Shopping for a loan lesson plan:
                                              http://fefe.arizona.edu/curriculum.php?categoryID=21#73
                                                   PowerPoint
                                                   Game


IT.PF.20.04 Identify
alternative sources for
purchases (e.g., e-malls,
retail stores, and
catalogs).




July 2008                                                                                               Page 2
      Indicators                  Topics                              Class Activities                       Assessing
                                                                                                             Knowledge
IT.PF.20.05 Identify the    Housing                Housing: Lesson Plan and activities:
advantages and                                     http://fefe.arizona.edu/curriculum.php?categoryID=11
disadvantages of                                         Locate housing
purchasing, leasing, and                                 List necessities
renting.                                                 Compare renting vs. owning
IT.PF.30         Evaluate savings and investment options to meet short- and long-term goals.
IT.PF.30.01 Describe
why and how people
save.
IT.PF.30.02 Identify the    Opportunity costs      Time Value of Money lesson plan:
opportunity cost of                                http://fefe.arizona.edu/curriculum.php?categoryID=18#57
saving.                                                      How small costs add up
IT.PF.30.03 Differentiate Savings                  Savings lesson plan:
between saving and          Investing              http://fefe.arizona.edu/curriculum.php?categoryID=18#53
investing.                  Liquidity                   PowerPoint and worksheet
                            Pay yourself first
                            70-20-10 rule
IT.PF.30.04 Analyze the Rule of 72                 Rule of 72 lesson plan:
power of compounding        Compound interest      http://fefe.arizona.edu/curriculum.php?categoryID=18#55
and the importance of       Simple interest              PowerPoint and worksheet
starting early in           Interest rates               Math calculations
implementing a plan of                             Time Value of Money lesson plan:
saving and investing.                              http://fefe.arizona.edu/curriculum.php?categoryID=18#57
                                                        Calculations
                                                        Examples
                                                        How small costs add up
                                                        Investment plans at different ages
IT.PF.30.05 Describe the Savings                   Managing your cash lesson plan:
advantages and              Mutual Funds           http://fefe.arizona.edu/curriculum.php?categoryID=18#54
disadvantages of            Savings Bonds              
different savings and       CD’s                       
investing plans.                                       
                                                        Four of a kind card game


July 2008                                                                                                    Page 3
       Indicators                 Topics                                Class Activities                       Assessing
                                                                                                               Knowledge
IT.PF.30.06 Identify the
risk/return trade-offs for
saving and investing.
IT.PF.30.07 Apply
criteria for choosing a
savings or investment
instrument (e.g., market
risk, inflation risk,
interest rate risk,
liquidity, and minimum
amount needed for
investment).
IT.PF.30.08 Explain why Time value of money          Time Value of Money lesson plan:
a savings and investing                              http://fefe.arizona.edu/curriculum.php?categoryID=18#57
plan changes as one                                        Calculations
proceeds through the life                                  Investment plans at different ages
cycle.
IT.PF.30.09 Develop
financial goals for the
future based on one's
lifestyle expectations
and career choices.
IT.PF.40          Evaluate services provided by financial deposit institutions to manage funds.
IT.PF.40.01 Identify         Commercial banks        Depository institutions lesson plan:
various types of financial Savings and loans         http://fefe.arizona.edu/curriculum.php?categoryID=9#28
deposit institutions         Credit unions                 PowerPoint and graphic organizer
                                                           Comparison worksheet for online or phone
                                                              research

IT.PF.40.02 List the      Commercial banks          Depository institutions lesson plan:
basic services provided   Savings and loans         http://fefe.arizona.edu/curriculum.php?categoryID=9#28
by financial deposit      Credit unions                  Scenarios on selecting the right institution
institutions.             Common services
                          Insurance


July 2008                                                                                                      Page 4
       Indicators                 Topics                                Class Activities                      Assessing
                                                                                                              Knowledge
IT.PF.40.03 Compare        Checking account types      Create a comparison chart of types of checking
and contrast the different Fees                         accounts at a specific bank – may include minimum
types of checking                                       balances, debit cards, credit cards, fees for stop
accounts offered by                                     payment, overdraft, and transactions.
various financial deposit
institutions and the costs
associated e.g.,
overdrafts and stop-
payment orders.
IT.PF.40.04 Describe the Checking account           Checking simulation:
steps involved in                                   http://fefe.arizona.edu/curriculum.php?categoryID=9#26
opening, and using a                                 3 months transactions
checking account.                                    Bank reconciliation
                                                     Paychecks and gift checks
                                                     Deposit slips and checks
IT.PF.40.05 Compare       Electronic banking        Electronic banking:
electronic means of       Debit card                http://fefe.arizona.edu/curriculum.php?categoryID=9#27
transfer (e.g., debit     ATM                            PowerPoint and worksheet
cards, ATM, and           Opt in, Opt out                Trivia game including game cards
automatic                 Privacy policies          Debit card simulation:
deposits/payments)        Recurring payments        http://fefe.arizona.edu/curriculum.php?categoryID=9#168
offered by various                                  Online banking lesson plan: Checking simulation:
financial deposit                                   http://fefe.arizona.edu/curriculum.php?categoryID=9#26
institutions.                                             PowerPoint and graphic organizer
                                                          Interview forms and graphing results
                                                          Poster and rubric
                                                          Charades type game

IT.PF.40.06 Use the       Bank reconciliation       Checking simulation:
steps involved in the                               http://fefe.arizona.edu/curriculum.php?categoryID=9#26
bank reconciliation                                  3 months transactions
process.                                             Bank reconciliation




July 2008                                                                                                     Page 5
       Indicators                  Topics                                Class Activities                           Assessing
                                                                                                                    Knowledge
IT.PF.40.07 Compare        Endorsements              Checking simulation:
and explain the various                              http://fefe.arizona.edu/curriculum.php?categoryID=9#26
forms of endorsement.                                     Endorsements
IT.PF.40.08 Discuss the    Wireless payments         Contactless payment lesson plan:
advantages and             Issuers                   http://fefe.arizona.edu/curriculum.php?categoryID=9#201
disadvantages of e-        Merchants                       Examples of companies
banking.                   Consumers                       Benefits for various stakeholders
                           POS (point of sale)             Payment types timeline (1700-current)
                                                           PowerPoint and worksheet
                                                           Create a brochure – includes a rubric

IT.PF.40.09 Analyze
privacy and security
issues associated with
financial transactions
IT.PF.50        Analyze factors that affect the choice of credit, the cost of credit, and the legal aspects of using credit.
IT.PF.50.01 Describe the 5 C’s of credit             What is credit? Lesson plan:
risks and responsibilities Types of credit           http://fefe.arizona.edu/curriculum.php?categoryID=6#18
associated with using                                     Define and explain the 5 C’s of credit
credit.                                                   Game
IT.PF.50.02 Identify the
opportunity cost of
credit.
IT.PF.50.03 Identify
methods of establishing
and maintaining a good
credit rating.
IT.PF.50.04 Determine      Advantages                What is credit? Lesson plan:
advantages and             Disadvantages             http://fefe.arizona.edu/curriculum.php?categoryID=6#18
disadvantages of credit.                                  Case studies
                                                          Game




July 2008                                                                                                            Page 6
       Indicators                   Topics                               Class Activities                       Assessing
                                                                                                                Knowledge
IT.PF.50.05 Define
interest as a cost of
credit and explain why it
is charged.
IT.PF.50.06 Identify the    Selecting a credit card   Selecting a credit card lesson plan:
various types of credit                               http://fefe.arizona.edu/curriculum.php?categoryID=6#16
including the different                                    PowerPoint with worksheet
types of credit cards.                                     Trivia game complete with game cards

IT.PF.50.07 Explain why
the interest rate varies
with the amount of
assumed risk.
IT.PF.50.08 Compare         Vocabulary                Take charge of credit lesson plan:
and contrast the various    Safety tips               http://fefe.arizona.edu/curriculum.php?categoryID=6#149
aspects of credit cards     Fees                           PowerPoint with graphic organizer
required by law in the      Schumer box                    Matching activity
Schumer box.                                               True/False statistics trivia
                                                           Scenario cards
                                                      Schumer box:
                                                      http://fefe.arizona.edu/curriculum.php?categoryID=6
IT.PF.50.09 Explain         Credit history            Understanding Credit Reports lesson plan:
credit ratings and credit   Credit reports            http://fefe.arizona.edu/curriculum.php?categoryID=6#16
reports and describe and                                   Building credit history
their impact on the cost                                   Scenarios: positive vs. negative report
of credit.                                                 Take steps to correct an error
                                                           Analyze several credit reports
IT.PF.50.10 Recognize
the early warning signs
of credit problems.




July 2008                                                                                                       Page 7
       Indicators                    Topics                             Class Activities                      Assessing
                                                                                                              Knowledge
IT.PF.50.11 Analyze the
advantages and
disadvantages of various
alternatives for resolving
credit problems.
IT.PF.50.12 Research
rights and
responsibilities of
consumers according to
credit legislation (e.g.,
truth-in-lending, fair
credit reporting, equal
credit opportunity, and
fair debt collection).
IT.PF.50.13 Develop          ID’s                    ID Theft lesson plan and activities:
skills necessary to          How ID theft occurs     http://fefe.arizona.edu/curriculum.php?categoryID=5#15
prevent identity theft.      Prevention                   Scenarios
                                                          Interview adults – questions included
                                                          Interview essay and rubric
                                                          PowerPoint and worksheet
IT.PF.50.14 Understand       Personal liability      ID Theft lesson plan and activities:
how identity theft can       Steps to take when it   http://fefe.arizona.edu/curriculum.php?categoryID=5#15
ruin financial resources     happens
and personal credit.

IT.PF.60        Analyze choices available to consumers for protection against risk and financial loss.
IT.PF.60.01 Identify risks Vocabulary              Types of insurance lesson plan:
in life and how to gain    Auto                    http://fefe.arizona.edu/curriculum.php?categoryID=12#36
protection against the     Health                       Vocabulary scramble worksheet
consequences of risk.      Life                         PowerPoint and graphic organizer
                           Disability                   Interview worksheet
                           Renters                      Spoons activity with cards




July 2008                                                                                                     Page 8
       Indicators                  Topics                       Class Activities                       Assessing
                                                                                                       Knowledge
IT.PF.60.02 Explain how
all types of insurance are
based on the concept of
risk sharing and
statistical probability.
IT.PF.60.03 Identify the    Auto insurance   Auto Insurance lesson plan:
type of insurance                            http://fefe.arizona.edu/curriculum.php?categoryID=21#71
associated with different
types of risk (automobile,
life, health, and renters).
IT.PF.60.04 Explain why
insurance needs change
throughout the life cycle.
IT.PF.60.05 Identify
various suppliers of
insurance (e.g., public
and private).




July 2008                                                                                              Page 9

								
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