Career and Technology
Studies
Student Learning Guide
FIN 1010: Personal Financial
Information
Submitted by:
Crystal Jiang
Ed 3601
~ 2~
Why
take this course?
Most of you don’t see financial life skills as relevant to you in
school and don’t have the experience to apply financial
learning in your lives. This course involves a great amount of
hands-on interactive activities which allows you to learn
financial life skills in a meaningful and practical way.
What
do you need to know before you start?
 There are no prerequisites to this course.
 Have the curiosity about personal finance.
 Find the value of this course to your real-life experience.
~ 3~
What
will you know and be able to do when you
finish?
 Describe aspects of the lifestyle you envision for your
future.
 Understand how personal needs and wants affect
budgeting and financial planning.
 Able to take income and expenses into a personal budget.
 Calculate simple and annual interest and total savings
 Describe how credit and debit could affect you transition
from secondary school.
 Describe different forms of insurance.
 Choose an investment portfolio suited to you.
~ 4~
When
should your work be done?
 This course requires approximately 23-25 hours of
work in and out of classroom, excluding quizzes.
 When in-class time allowed for the activities is up, you
need to arrange your own time to complete them by
deadline.
How
will your grade be determined?
 7 assignments (45%)
 3 mini-projects (35%)
 6 quizzes (20%)
~ 5~
Which
resources may you use?
 Most handouts and templates will be provided to you by
the teacher in class.
 Glossary of financial terms provided by your teacher
 A Financial Consumer Agency of Canada site, “The Money
Belt”: http://www.themoneybelt.ca/home-accueil-eng.asp
you will need to register a student account for “The City”
program.
 Other particular websites provided in the activities.
 Various internet sites in consultation with your teacher
~ 6~
Activities
Your Future Lifestyle:
1. Goal setting(assignment)
Needs and Wants:
1. Proposition paper on media and wants(project)
Income, Expenses and Budget
1. Monthly budget (assignment)
Savings and Banking:
1. Savings calculation(assignment)
2. Research on Savings accounts, GICs, and Canada Savings
Bonds (project)
Credit and Debit
1. The cost of borrowing(assignment)
2. Credit-related frauds presentation (project)
Insurance
1. My insurance needs (assignment)
Investing
1. Sample investments (assignment)
2. My investment portfolio(assignment)
Note: There are 6 quizzes, one at the end of each topic, except for the first
topic.
~ 7~
Topic 1: Your Future Life-Style
Goal-setting assignment (1 hour, 4% of assignments grade):

Creating your educational and career goals, 2 aimed at your future
career (MUST include financial aspects, for example salary or worth of
house you will own), and 2 aimed at your education to prepare you to
meet your career goals.

Use the S.M.A.R.T. Goals structure and requirements.

S- Specific: A specific goal has a much greater chance of being
accomplished than a general goal. To set a specific goal you should
consider the following six “W” questions:
Who (who’s involved), What, Where, Which (requirements and
constraints), Why (purpose or benefits of accomplishing the goal)
M- Measurable: establish concrete criteria for measuring progress
toward the attainment of each goal you set.
A-Attainable: figure out ways or strategies you can make them come true.
R- Realistic: a goal must represent an objective toward which you are
both willing and able to work.
T- Timely: your goal should be grounded within a time frame.

Typed up using font style and size easy to read.

No extra marks are assigned for decoration.
~ 8~
Topic 2: Needs and Wants
Paper on media and “wants” (4 hours, 10% of projects grade):

Write a paper which debates and supports the proposition that media
advertising promotes a culture of “wants” rather than “needs”.

Use the internet, magazines, newspapers, television and radio
broadcasts as your research medium.

The paper must be composed of an introduction, at least 1 body
paragraph, and a conclusion

Length of the paper should be 3-4 pages, font size:12, font style: Times
New Roman, double spaced.

Cite any internet, magazine, and newspaper sources you have used, use
MLA style (refer to the following website for standard MLA format):
http://www.mcgill.ca/files/library/mla.pdf
~ 9~
Topic 3: Income, Expenses and Budget
Monthly budget (2-3hours, 6% of assignments grade):
Part 1 (5pts)
Choose a career that you would like to pursue once you are done school and
on your own finally. Find the salary for this position.
Career title:______________
Salary:________________
Part 2: (10pts)
Calculate what your gross pay would look like if you were paid weekly,
bi-weekly, and monthly. Show your calculations.
Weekly___________
Bi-weekly___________
Monthly__________
Now choose a pay period. How often would you like to receive a paycheck?
___________
Part 3: (20pts)
Complete your monthly budget. Your budget must include accommodations,
bills, food, entertainment, transportation, as well as anything else you might
spend your hard-earned money on during the month.
Note:
 If you make more than $80,000 per year you MUST buy a NEW car
 If you make between $30,000 and $79,000 you MUST buy a used car
 If you make less than $30,000 you MUST buy a bus pass
All bills must be researched, a research log (next page) is provided, you must
explain your research by including the website where your information was
retrieved from.
Don’t forget to budget for 5% GST on bills such as groceries, phone, utilities,
clothing, etc.
~ 10~
EXPENSES
Housing
Mortgage or rent
Internet
Phone
Cell phone
Electricity
Cable
Water
Other
Transportation
Vehicle Payment
Bus/Taxi Fare
Insurance & Registration
Gas
Maintenance
Other
Food
Groceries
Dining Out
Other
Personal Care
Medical
Hair/Nails
Clothing
Dry-cleaning
Health Club
Organization Dues/Fees
Entertainment
Videos/DVDs
Movies
Concerts
Sporting Events
Live Theatre
Other
COST
WEBSITE REFERENCE
Part 4: (10pts)
You are going to turn your gross income into net income by taking into
considerations of the deductions that would be taken out of your gross
income each pay period.
~ 11~
Consider the following and re-evaluate your monthly living expenses.
Monthly Income ______________
EI Contributions (1.73% of your gross monthly income)_____________
CPP Contribution (4.95% of your gross monthly income)____________
Income tax (15% of your gross monthly income)______________
Net Monthly Income (amount after deductions) ______________
Can you still afford your monthly living expenses? ____________
Are there any adjustments that you are willing to make not that you are not
making as much money as you had originally budgeted for? Explain in detail.
Total Expense Layout:
Gross Monthly Income
Housing
Transportation
Food
Personal Care
Taxes & Deductions
Entertainment
Net Monthly Income
Deduct reasonable expenses if your budget ended up with a deficit. Figure
out the new budget.
Extended questions (Bonus up to 3pts):
If your monthly budget ended up with a surplus, what are you going to do with
it?
How might your budget change if this was a budget for the month of August?
December?
~ 12~
Topic 4: Savings and Banking
Savings Calculation (1-2 hours, 6% of assignments grade):
Savings add up when you follow a regular savings plan. Calculate the
answers to the problems below. Show the steps needed to arrive at your
answers on a separate piece of paper. OR if you choose to use an electronic
spreadsheet for your calculations, make sure you show the formulas used at
each step.
1. If you put $250 into an investment that paid 5% simple interest each
year, how much interest would you earn in five years? What would your
savings be worth at the end of 5 years?
Year 1
Year 2
Year 3
Year 4
Year 5
Investment
Interest
Total
2. If you put $250 into an investment that paid 5% compound interest
each year, how much interest would you earn in five years? What
would your savings be worth at the end of 5 years?
Year 1
Year 2
Year 3
Year 4
Year 5
Investment
Interest
Total
3. If you put $240 each year into an investment that paid 5% compound
interest each year, how much interest would you earn in 5 years?
What would your savings be worth at the end of 5 years?
Carry over
Annual
Contribution
Subtotal
Interest
Total
Year 1
$0
$240
Year 2
Year 3
Year 4
Year 5
4. Look for the monthly net income from the “Monthly Budget” assignment,
~ 13~
the income after the CPP, EI, and income tax are deducted. Take the
monthly net income and multiply it by 12 to get the annual net income
(goes in the Annual Contribution row). Calculate the total amount you
would have if you saved 5% compound interest each year. Repeat the
calculations for 10% and 15% of your income.
Carry over
Annual
Contribution
(5%)
Subtotal
Interest
Total
Carry over
Annual
Contribution
(10%)
Subtotal
Interest
Total
Carry over
Annual
Contribution
(15%)
Subtotal
Interest
Total
Year 1
$0
Year 2
Year 3
Year 4
Year 5
Year 1
$0
Year 2
Year 3
Year 4
Year 5
Year 1
$0
Year 2
Year 3
Year 4
Year 5
~ 14~
Research on savings accounts, GICs, and Canada Savings
Bonds (4hours, 10% of projects grade):

Write a report to evaluate and compare and contrast the following
three methods of saving: savings accounts, GICs, and Canada
Savings.

Use trusted web resources to research the features, advantages,
and disadvantages of each method.

Include at least 3 web sources.

Email your teacher the web sources you decide to use in order to
get permission of using the sites, make sure you do this before you
start writing the report.

Length of the report should be about 2-3 pages (max 3 pages), font
size:12, font style: Times New Roman. Must include subheadings.

Use MLA citation style (refer to the following website for standard
MLA format): http://www.mcgill.ca/files/library/mla.pdf
~ 15~
Topic 5: Credit and Debit
Cost of Borrowing (1 hour, 6% of assignments grade):
So you found a good deal and made a purchase. Should you pay cash or use
credit card? When you use your credit card, the cost depends on when you’ll
pay it off, and what the interest rate is. Unless you pay before the due date,
credit adds cost.
Use the example below to calculate how much it costs to use credit:
You are starting university and want a laptop computer. You find one for $200
off the regular price – with taxes, it’s $1,498, just below your credit card limit.
You have the money in a savings account, but you decide to put the computer
on your credit card so you can use your savings for other purchases. When
the statement arrives, you don’t have enough to money to pay it, so you make
the minimum payment – 10% of the balance owing, $149.80. You don’t pay
for the computer for three more months, except for the minimum payment
each month.
1. If the annual percentage rate (APR) on your card is 18.9%, what’s the
true cost of the computer when it’s fully paid? (Hint: work out the
monthly interest rate, calculate the added interest, and subtract the
payments each month. Use an electronic spreadsheet if you choose,
but provide the formulas used on the side).
Month 1
Month 2
Month 3
Month 4
Balance
Interest at
1.58% per
month (18.9%
per year divided
by 12 months)
Subtotal
(balance
+interest)
Minimum
Payment (10%
of balance)
New Balance
Owing
(Subtotal less
payment)
~ 16~
2. Calculate the cost of the sum of the items on your credit card
statement, using the interest rate showing on the statement. Assume
that you make only the minimum payments for 3 months.
Final payment (final balance)
Total (final payment + minimum payments + all interest
payments
Note: you can find a variety of credit card calculators on the web such as the
one on FCAC website (for consumers, interactive tools section –
http://fcac-acfc.gc.ca/iTools-iOutilsCreditCardCalculator-eng.aspx)
OR
Credit Canada website (www.creditcanada.com/debtCalc.asp)
~ 17~
Credit-related frauds (4 hours including presentation, 15% of
projects grade):

In groups of 3, group members will be assigned by your teacher.

Prepare a short presentation using PowerPoint on a type of credit
fraud or scam assigned by your teacher (eg: fraudulent statements,
pay check loans, excessive interest rates, phishing, identity theft, etc.).

Each group will be assigned with a different type of fraud or scam.

Present your topic focus to class, and it should be no longer than 15
minutes (leave about 5 minutes for questions) Try to fit as many key
points as you can into the 10mins show!

Content of the presentation should include: what the fraud is, how it
occurs, where do they occur? And how to avoid them?

Make the slide show as appealing and interesting as possible.
~ 18~
Topic 6: Insurance
My insurance needs (2 hours, 8% of assignments grade):
What types of insurance do you need once you graduate from high school
and start living on your own (living with parents is not an option for the
purpose of this assignment).
You can start by listing the properties you may own in the future, such as car,
apartment, house, etc. Depending on the types of properties you own, the
types of insurance you choose varies, also, depending on the values of your
properties, the insurance policies may vary.
Use the sample insurance policies (example of one on the next page)
provided, other sample policies will be handed out during class, and
remember to pick the ones that best suit your personal needs, consider your
monthly net income from the “Monthly Budget” assignment to see whether
your budget allows such insurance policies. (Hint: multiply net income by 12
months to more easily compare with annual insurance expenses)
Provide a 4-5 sentences rationale for each insurance policy you pick.
~ 19~
Safety Insurance
Residential Insurance Policy
This policy insures you against risks of direct physical loss or damage to the
property described in the contract terms. Damage caused by any of the following is
not covered unless included as an additional option:
 Earthquake, snowslide, landslide or earth movement
 Windstorm, hail, snow or sleet
 Flood, surface water, waves, tides, ice or waterborne objects
 Water backup or seepage from sewer, septic tank, eavestroughs or group
water.
This policy does not cover any of the following:
 Motor vehicles, except the contents thereof
 Watercraft, outboard motors, motorcycles, bicycles or parts thereof
 Money, jewelry, precious stones or furs
 Plants, animals, birds or fish
 Property owned by a tenant or damage caused by a tenant.
This policy is effective for 1 year from the date listed in the contract terms.
Premiums on this policy are payable at the amount of specified in the contract
terms.
You must inform us of any material change in the conditions that this policy is based
on. This policy is void and of no effect if you fail to inform us of any material change
within 30 days of the change, or if you have misrepresented any material fact.
Contract Terms
Policy number: 7549-293-0012
Policy type: H5 advantage home
Construction;
Occupancy; homeowner
Effective date: mm/DD/YYYY
Annual premium: $508.00
Deductible amount; $500.00
Type of coverage: Comprehensive, Replacement value
Additional options: earthquake coverage, sewer backup/water damage,
electronic data equipment
Property coverage: $229,000.00
Contents coverage: $145,000.00
Liability coverage: $1,000,000.00
~ 20~
Topic 7: Investing
Sample investments (1 hour, 7% of assignments grade):
Fill in the blanks to describe the characteristics of each types of investments.
As an example, the first one is completed for you. Types of investments will be
investigated as a class. You might also want to consult trusted internet sources
for further information on these kinds of investments.
1. Canada Savings Bonds, Premium Series
 Issued and guaranteed by the Government of Canada
 Bonds are guaranteed to pay 1.75% in the first year, 1.90% in the
second year, 2.05% in the third year
 May be cashed in at any bank in Canada for face value plus interest to
date.
Type of investment:
Liquidity:
Fixed income (bond)
High (cashable at any bank)
Risk rating:
Expected return:
Very low (guaranteed by gov.)
Low (1.5%-2.5% per year)
2. Midas Bank Savings Account
 Savings account in a Canadian bank
 Pays interest compounded monthly, at an annual rate of 0.7% on the
first $5000, and 1.25% on amounts over $5000
 Includes 10 free banking transactions per month
Type of investment:
Liquidity:
Risk rating:
Expected return:
3. Moka-Cola Shares
 Shares in a new company formed to produce a new coffee-flavored cola
drink.
 Shares are listed on a public stock exchange, but don’t trade often.
Brokers charge a commission of 2% to trade the shares.
 The company believes that it can challenge the cola giants with its
patented formula for extracting coffee flavor and adding it to carbonated
beverages.
 The company plans to pay no dividends, but will invest any income it
receives in expanding production and distribution.
 The company projects that will double in size at east every 2 years.
~ 21~
Type of investment:
Liquidity:
Risk rating:
Expected return:
4. Global Entertainment Products Shares
 Shares in the largest entertainment products company in the world, with
annual sales of $9.5 billion.
 Shares are traded on several major stock exchanges around the world.
Brokers charge a commission of 2% to trade the shares.
 The company brings out new products every week to compete with
smaller rivals.
 The company pays dividends four times a year, but keeps enough of its
profits to pay for new product development and to buy other smaller
companies from time to time
Type of investment:
Liquidity:
Risk rating:
Expected return:
5. Ethical Fun Mutual Fund Units
 Units in a fund that invests in companies that manufacture toys and
games following strict ethical and environmental standards.
 Fund managers believe that ethical toys will be a profitable retail sector
that will pay steady dividends and grow at a rate of 10% to 15% per year
 Fund managers charge an annual fee equal to 3% of the funds they’re
managing.
 Fund charges a fee of 3% when investors sell their units
Type of investment:
Liquidity:
Risk rating:
Expected return:
6. Technical Tests Mutual Fund Units
 Units in a fund that invests in very new technologies before they
have a proven market.
 Fund is new and has not been offered publicly before, but fund
managers are known to analyze risks carefully before they invest.
 Fund brochures say that it is very risky, but could increase in value
rapidly if the new technology it supports becomes profitable.
 Fund managers charge an annual fee equal to 5% of the funds
they’re managing.
~ 22~

Fund charges a sales fee of 5% when investors sell their units.
Type of investment:
Liquidity:
Risk rating:
Expected return:
7. Government of Canada 90-day Treasury Bills
 An investment in government securities that can be cashed in for their
full face value in 90 days.
 Rather than paying interest, these treasury bills are sold for $995 today
and can be cashed in 90 days from now for $1,000 (equivalent to a bit
more than 2% per year).
 Can be sold through any bank or investment dealer in Canada for their
market value on the date of sale.
Type of investment:
Liquidity;
Risk rating:
Expected return;
8. Maple Petroleum Company Bonds
 Issued by a private company with large oil and gas holdings in northern
Canada, and long-term contracts to supply petroleum products to
customers in the United States.
 The company pay interest quarterly, calculated at a rate of 5.5% per
year.
 Bonds are non-redeemable for five years, but because the company is
well established and has a good financial record, the bonds can be
traded through investment dealers.
Type of investment:
Liquidity;
Risk rating:
Expected return;
~ 23~
My investment portfolio (3 hours, 8% of assignments grade):
Complete the financial risk self- assessment at:
http://www.bankatfirstnational.com/Financial%20Self-Assessment%20Worksh
eet.pdf
Total up your score, and find which type of investor you are, then take a close
look at the investing model for your type.
Now that you have a general idea of the structure of your investment portfolio.
Imagine that you have $25,000 to invest. List the types of investments you
would choose for your portfolio and the amount of each investment you would
choose.
You can choose any types of investments you can find in the “Sample
Investments” assignment.
Use the form below to describe your choices.
Investment Amount
Invested
Expected
Return
Risk
Liquidity
Reason
choosing
it
Now discuss with your parents or another adult your choice of investments and
any revisions they would recommend. Write a summary of your discussion (5-6
sentences long).
~ 24~
Rubrics
Goal-setting assignment:
2
Satisfactory
The goals fail to
incorporate financial
components and the
elements of the SMART
goals requirements.
Poorly worded.
3
Good
The goals contain
financial component but
lack certain elements of
the SMART goals
requirements.
Good effort.
4
Excellent
The goals contain
financial components
and cover all the
elements of the SMART
goals requirements.
Thoroughly worded, and
easy to understand.
~ 25~
Proposition paper on media and wants:
Criteria
Content
Clarity and
correctness
of the
writing
Citation
1-2
Poor
Hardly
supports the
idea that
media
influences
wants.
There is no
central theme.
3-4
Good
The main idea
is clear, but
needs more
information to
strengthen the
support.
Ideas of the
paper are
mostly(not all)
relevant.
It is difficult for The writing is
the reader to
generally
understand
clear, but
what the writer unnecessary
is trying to
words are
express.
occasionally
Paper contains used.
spelling and
Some
grammatical
mistakes in
errors as well
grammar and
as improper
spelling,
punctuation.
and/or
punctuation
exist.
References
References
are not cited in are in MLA
MLA style.
style but with
some errors.
5
Excellent
Proposition is
very
powerfully
demonstrated.
Ideas are
in-depth and
without being
redundant.
Weightings
The writing is
clear and
concise.
There are
no(or very few
mistakes in
grammar,
spelling and/or
punctuation.
X5
Accurately
adheres to
MLA style.
X5
X 10
Total_____________
~ 26~
Research on savings accounts, GICs, and Canada Savings
Bonds:
Criteria
1-2
Poor
3-4
Good
5
Excellent
Weight
X10
ings
Content
Paper lacks
features,
advantages
and/or
disadvantages
Very vaguely
describes the
saving
methods.
Paper includes
all components
(features,
advantages, and
disadvantages).
More information
is needed to
more thoroughly
describe the
saving methods.
Paper includes all
components(featu
res, advantages,
and
disadvantages)
Descriptions of the
saving methods
are in-depth
without being
redundant.
Clarity and
correctness
of the
writing
It is difficult for the
reader to understand
what the writer is
trying to express.
Paper contains
spelling and
grammatical errors
as well as improper
punctuation.
The writing is
generally clear, but
unnecessary words
are occasionally used.
Some mistakes in
grammar and spelling,
and/or punctuation
exist.
The writing is clear and
concise.
There are no(or very
few mistakes in
grammar, spelling
and/or punctuation.
X5
Citation
References are not
cited in MLA style.
References are in
MLA style but with
some errors.
Accurately adheres to
MLA style.
X5
Total_______________
~ 27~
Credit-related frauds presentation:
Criteria
3
Satisfactory
Student is uncomfortable
Subject
Knowledge with information and is
able to answer only the
rudimentary questions,
and fails to elaborate.
Student occasionally
Uses visual aids that
Rarely support the
presentation
Student’s voice is low.
Verbal
Techniques Audience
members have difficulty
Hearing presentation
Visual
4
Good
5
Excellent
Student is at ease
and
answers most
questions
with explanations
and
some elaboration.
Student’s visual aids
relate to the
presentation
Student
X5
demonstrates full
knowledge by
answering all
questions with
explanations and
elaboration
Student’s visual
X2
aids explain and
reinforce the
presentation
Student uses a
X5
clear voice.
All audience
members can hear
presentation
Student’s voice is
clear.
Most audience
members can
hear presentation
Weightings
Total:____________