MADISON PUBLIC SCHOOLS
Madison High School
Personal Finance
Authored by: Timothy Maseker
Reviewed by: Lee Nittel,
Director of Curriculum and Instruction
Kathryn Lemerich,
Supervisor of Mathematics and Business Education
Approval Date: January, 2013
Members of the Board of Education:
Lisa Ellis, President
Patrick Rowe, Vice-President
Kevin Blair
Tom Haralampoudis
Linda Gilbert
James Novotny
David Arthur
Shade Grahling
Superintendent: Dr. Michael Rossi
Madison Public Schools
359 Woodland Road, Madison, NJ 07940
www.madisonpublicschools.org
I.
OVERVIEW
Personal Finance is a semester elective that introduces students to a variety of financial
concepts and strategies. The course is one of the most practical courses offered at Madison
High School teaching invaluable financial life skills. The course is structured in a manner
where basic financial concepts are initially covered to provide a foundation from which to
expand into more complex, sophisticated financial concepts.
The course is an interactive, activity-based curriculum engaging the students in the learning
process. Topics covered range from; Budgeting, Banking Services, Credit, Investing, Taxes
and Risk Management. This course will elevate the financial competency of all students.
II.
RATIONALE
The simple goal of Personal Finance is to elevate the financial competency of the students
and help put them on the path of financial responsibility and security.
•
•
•
•
•
•
III.
Students will develop an understanding budgeting (income vs. expenses)
Students will elevate their awareness and understanding of the variety of banking
services available to them.
Students will understand the significance of Credit, how it works, the potential
pitfalls and the importance of maintaining a good score.
Students will learn about a number of different investment options including
learning about the stock market and the mechanics behind it.
Students will learn what entities tax them and how that affects their pay, as well
as, what the tax revenues pay for.
Students will be introduced to the concept of Risk Management and the
importance of protecting your assets through insurance (Auto, Life, Home,
Umbrella and Personal Articles)
STUDENT OUTCOMES (Link to New Jersey Core Curriculum Standards)
Completion of this course meets the state’s requirement for Financial Literacy by fulfilling
the following Core Curriculum Standards.
8.1.12. A.1 Construct a spreadsheet, enter data, and use mathematical or logical functions to
manipulate data, generate charts and graphs, and interpret the results.
8.1.12. B.1 Design and pilot a digital learning game to demonstrate knowledge and skills
related to one or more content areas or a real world situation.
9.1 21st-Century Life and Career Skills: All students will demonstrate the creative, critical
thinking, collaboration, and problem-solving skills needed to function successfully as both
global citizens and workers in diverse ethnic and organizational cultures.
9.2 Personal Financial Literacy: All students will develop skills and strategies that promote
personal and financial responsibility related to financial planning, savings, investments, and
charitable giving in the global economy.
IV.
ESSENTIAL QUESTIONS AND CONTENT
Students enrolled in Personal Finance will demonstrate the ability to:
•
•
•
•
•
•
•
•
Understand and apply knowledge of Excel software to create spreadsheets for Budgets and
Expense Trackers.
Research and compare different banking services from different banks.
Research and find the best interest rate for a Certificate of Deposit.
Calculate the interest earned on a Certificate of Deposit.
Research and compare interest rates for CD’s, Auto Loans and Mortgages.
Understand stock market terminology including; P/E ratio, Bonds, 52 wk, Market
Capitalization, etc.
Understand how credit card companies make money and how to maintain good credit
Understand insurance terminology such as; premiums, deductibles, coverage, claims, insured,
policy holder, beneficiary, actuary, claims adjustor, liability.
V.
STRATEGIES
Strategies will include:
a.
b.
c.
d.
e.
f.
g.
h.
VI.
Guest Speakers
Stock Market Investment Simulation
Power Point Presentations
Interactive activities including; Buying/Financing a Home, Buying/Financing a Car
Debate
Analysis of financial statistics
Virtual Business: Computer Simulation
Wall Street Journal case studies & analysis
EVALUATION
Evaluations may include:
Case Study Analysis
Tests & Quizzes
In-class Activities
Student Presentations/Projects
VII.
REQUIRED RESOURCES
Excel Software
Internet: Trulia.com, Bankrate.com, KBB.com, Google Finance,
T.V. - CNBC
Hoovers.com
VIII.
SCOPE AND SEQUENCE
Number of Weeks
2
Unit 1
Budgeting
Excel Basics
Create Monthly Budget
Create Expense Tracker
Discuss Net Worth Statements
Unit 2
Banking Services
Bank Comparison Sheets
Define Certificate of Deposit
Research CD interest rates using Bankrate.com
Research Homes for Sale using Trulia.com
Financing a Home
Research Cars for Sale using KBB.com
Financing a Car
2
Unit 3
Check Writing & Reconciliation
Parts of a check
How to properly fill out a check
Posting to the checkbook register
Balancing your checkbook (reconciliation)
1
Unit 4
Investing
What is a Stock?
Stocks vs. Bonds
NYSE and NASDAQ
DJIA and S&P 500
Retirement Plans
4
Unit 5
Credit
What is credit?
Credit vs. Debit
The mechanics of using a credit card
How credit card companies make money
FICO scores
Credit rating agencies
Importance of maintaining good credit
3
Unit 6
Taxes
Entities that tax individuals
Gross vs. Net Salary
Federal/State tax brackets
Property Tax
What do tax revenues pay for?
3
Unit 7
Risk Management
Insurance: Home, Auto, Life, Umbrella, Personal Articles
Terminology – premium, deductible, coverage, claim, liability
2
FINAL
Final Project
1
TOTAL
18