PERSONAL FINANCE
COURSE CODE:5131
COURSE DESCRIPTION: This course is designed to introduce the student to basic
financial literacy skills which includes budgeting, obtaining credit, maintaining
checking accounts, analyzing the basic elements of finance, computing payroll,
recording business transactions, and applying computer operations to financial
management.
OBJECTIVE: Given the necessary equipment, supplies, and facilities, the student
will be able to successfully complete the following core standards in a course that
grants one unit of credit.
RECOMMENDED GRADE LEVEL: 9-12
COURSE CREDIT: 1 unit
PREREQUISITE: n/a
COMPUTER REQUIREMENT: one computer per student as needed
A.
SAFETY AND ETHICS
1. Identify major causes of work-related accidents in offices.
2. Describe the threats to a computer network, methods of avoiding
attacks, and options in dealing with virus attacks.
3. Identify potential abuse and unethical uses of computers and
networks.
4. Explain the consequences of illegal, social, and unethical uses of
information technologies (e.g., piracy; illegal downloading;
licensing infringement; inappropriate uses of software, hardware,
and mobile devices).
5. Differentiate between freeware, shareware, and public domain
software copyrights.
6. Discuss computer crimes, terms of use, and legal issues such as
copyright laws, fair use laws, and ethics pertaining to scanned and
downloaded clip art images, photographs, documents, video,
recorded sounds and music, trademarks, and other elements for
use in Web publications.
7. Identify netiquette including the use of e-mail, social networking,
blogs, texting, and chatting.
8. Describe ethical and legal practices in business professions such as
safeguarding the confidentiality of business-related information.
B.
EMPLOYABILITY SKILLS
1. Identify positive work practices (e.g., appropriate dress code for
the workplace, personal grooming, punctuality, time management,
organization).
2. Demonstrate positive interpersonal skills (e.g., communication,
respect, teamwork).
C.
STUDENT ORGANIZATIONS
1. Explain how related student organizations are integral parts of
career and technology education courses.
2. Explain the goals and objectives of related student organizations.
3. List opportunities available to students through participation in
related student organization conferences/competitions, community
service, philanthropy, and other activities.
4. Explain how participation in career and technology education
student organizations can promote lifelong responsibility for
community service and professional development.
D. CAREERS AND INCOME
1. Explore career options.
2. Develop a career plan.
3. Discuss ethical issues as they relate to personal and business
practices.
4. Identify sources of personal income.
E.
PERSONAL FINANCIAL PLANNING
1. Explain the major purposes of budgets.
2. Develop a financial plan that includes short-term and long-term
financial goals.
3. Identify various types of income and expenses.
4. Develop a personal budget.
5. Implement a system for organizing and maintaining financial
records.
6. Explain the importance of saving for emergencies.
7. Describe how saving will build wealth and meet financial goals.
F.
MANAGING CHECKING AND SAVINGS ACCOUNTS
1. Distinguish between different types of banking accounts.
2. Prepare documents used with banking accounts.
3. Maintain a check register including proper procedures for handling
deposits, and withdrawals.
4. Reconcile a bank statement.
5. Give examples of savings options.
6. Discuss the need for and purpose of savings.
7. Compute simple and compound interest.
G.
UNDERSTANDING CREDIT
1.
2.
3.
4.
5.
6.
Identify the costs and benefits of using credit.
Identify types and sources of credit.
Evaluate offers of credit.
Make recommendations on offers of credit based on the analysis.
Reconcile a credit card statement.
Complete a loan application.
7. Describe the concept of creditworthiness as it relates to credit
records, credit ratings, credit reports, and credit laws.
8. Define bankruptcy laws, types of bankruptcy and their purposes,
and the major causes of bankruptcy.
9. Describe the advantages and disadvantages of bankruptcy.
10. Discuss methods of solving credit problems.
11. Explain how major consumer credit laws protect the consumer.
H.
PERSONAL TAXES
1.
2.
3.
4.
5.
6.
7.
I.
Complete W-4 and I-9 forms.
Compute gross earnings.
Evaluate fringe benefit packages.
List mandatory and voluntary deductions.
Identify employer-sponsored retirement plans.
Discuss county and local taxes including tax assessments.
Discuss implications of an inheritance.
PREPARING TAX RETURNS
1. Define exemptions, dependents, and taxable and non-taxable
income.
2. Prepare a 1040EZ using a W-2 form.
3. Prepare a 1040A using a W-2 and a 1099-I (interest) form.
J.
PURCHASING PERSONAL ASSETS
1.
2.
3.
4.
5.
K.
Calculate the cost of credit.
Identify the similarities/differences between leasing and buying.
Calculate cost of ownership.
Identify sources for determining fair market value.
Identify state and federal laws concerning financing.
CALCULATING REAL ESTATE COSTS
1. Compare and contrast the advantages and disadvantages of renting
versus purchasing property.
2. List the cost of ownership and the cost of property rental.
3. Compare the terms and rates of mortgage agreements.
4. Interpret simple contracts.
L.
INVESTING CONSIDERATIONS
1.
2.
3.
4.
5.
6.
Define investment terms.
Describe the concept of risk management and rate of return.
Track various stocks over a period of time.
Identify and evaluate investment alternatives.
Describe how to buy and sell various investments.
Compare and contrast taxable and tax free investments.
7. Describe funding the various life stages (e.g., college funding,
home mortgages, retirement).
8. Describe the purpose and importance of estate planning (wills,
trusts, gifting, and charitable contributions).
9. Explain how governmental agencies regulate investments to protect
consumers.
10. Describe illegal and unethical investment practices.
M.
UNDERSTANDING INSURANCE
1.
2.
3.
4.
N.
FINANCIAL RESPONSIBILITY AND DECISION MAKING
1.
2.
3.
4.
O.
Define the types of risks and risk management methods.
Identify the needs for insurance coverage.
Explain the various types of insurance coverage.
Explain major characteristics of the basic types of life, health, and
disability insurance.
Make responsible financial decisions.
Locate and evaluate financial information.
Identify major consumer protection laws.
Identify means of securing personal financial information.
USING SOFTWARE
1. Identify various financial management software packages.
2. Prepare a budget using spreadsheet software.
STUDENTS WILL NEED:
A classroom set of books are provided for the students. Students are also able to check out
textbook, if needed. A notebook and a pen are also needed. Students are to keep notes and
projects completed in class in the notebook.
LEARNING STRATEGIES:
Students will be exposed to a variety of learning strategies: classroom discussion, group work,
project work, research, classroom presentations, interviews, and surveys.
CLASSROOM RULES:
Classroom rules are posted in the classroom and the teacher goes over these rules at the
beginning of the year and as needed throughout the year. Consequences for breaking rules are
listed on the classroom rules sheet.
EVALUATIONS:
Class Work
Test
Projects
Chapter Terms and Questions
25%
30%
30%
15%
ASSESSMENTS:
Students will be graded on each assignment. Assignments will include class work (daily) and
chapter terms and questions. Major assessments will include written tests and projects. The
following grading scale follows district guidelines:
A
B
C
93 – 100
85 – 92
77 – 84
D
F
70 – 76
69 and Below
STUDENT RECORDS:
Class records are maintained via internet through PowerTeacher.
PARENT COMMUNICATION:
Parents will be notified of the student’s grades each 9 week grading period. An interim report at
the middle of the 9 week grading period is also issued. Both of these will be sent home with the
student. Final grades will be given at the end of each 9 week grading period. Absences will be
recorded and phone calls to the parent will be made with excessive absences. A parent will be
notified by phone if the teacher finds that to be the most appropriate method of communication
for that particular student about class participation, work record, discipline or any other
notification for that parent. Parents may also log in to Power School to monitor student progress
and attendance.
SUPPLEMENTARY MATERIALS/ACTIVITIES:
Oral questioning, pretest, and/or informal surveys will be utilized as initial diagnostic techniques
for course content to be adjusted for maximum class benefits. To accommodate for student
learning differences, assignments may vary in degree of difficulty. Also, supplementary
materials will be given to students who would benefit from additional practice.
COOPERATIVE LEARNING:
Students will work together in teams to complete projects, teamwork exercises, and test taking
skills. Students learn from each other and the experience of others in the classroom.