Financial Math Unit 1: Gross Income This unit examines the various ways that people earn money. This unit also begins the process of compiling information for the creation of a unique financial plan for each student. Unit 2: Net Pay In this unit, students focus on payroll deductions and their calculations as they pertain to net pay. Students will continue to develop goal setting and writing skills. Emphasis is also given to the decision-making process. Unit 3: Checking Accounts This unit explores how to manage money in a checking account. Students will create initial financial plans based on their unique goals and the decision-making process. Unit 4: Savings Accounts This unit addresses the usefulness of savings accounts and how to manage them. Discussions will center on the time value of money and the advantages of starting a savings plan early in life. There is also consideration given to saving versus investing. Compound and simple interest will be investigated. Unit 5: Cash Purchases and Earning Potential This unit addresses the usefulness of savings accounts and how to manage them. Discussions will center on the time value of money and the advantages of starting a savings plan early in life. There is also consideration given to saving versus investing. Compound and simple interest will be investigated. Unit 6: Credit In this unit, students focus on credit in two forms, credit cards and installment loans. Students will learn how credit card interest is calculated, and how this affects the final price of a purchase. Several methods of calculating interest are discussed. Borrowing money in the form of an installment loan is discussed with calculations for finance charge and total repaid emphasized. Loans will be compared according to duration and APR. Then students will learn how to determine the best choice for a given situation. The credit qualification process and how to bolster chances of qualifying for credit in the context of meeting financial goals will be examined. Also, the legal rights of borrowers and action steps to alleviate excessive debt will be explored Unit 7: Transportation This unit explores automobile transportation and the many costs associated with it. These costs include purchasing, insuring, operating and maintaining an automobile. Unit 8: Housing This unit focuses on the costs associated with providing shelter for an individual and for a family. A review/update of the financial plan to include their housing goals is also included. Unit 9: Investments and Insurance Basic investing skills and how to begin to plan and implement a long-term investing plan are introduced with relevant topics. This unit addresses life insurance in two forms: term life and whole life. Healthcare is explored with research and a debate. The financial plan will be updated to include topics discussed in the unit. Unit 10: Record Keeping This unit ties the many aspects of financial planning and money management together. Budgeting is introduced to enhance the relevance of current financial needs and future purchasing decisions. The financial plan is finalized.