PERSONAL FINANCE CURRICULUM MAP Unit 1 SAVING AND INVESTING Week Standard Objective Assessment 1-3 1 1, 2 4-6 E4.1.2 E4.1.2 Chapter 1: Savings I can list the key steps that will lead to strong foundations in personal finance decisions I can explain the three basic reasons to save money: emergency fund, purchases, building wealth I can demonstrate how compound interest works and understand the impact of annual interest rate Chapter 2: Understanding Investments I can compare and contrast compound and simple interest I can explain the KISS rule of investing I can describe the relationship between diversification and risk I can compare and contrast different types of investments Chapter 3: Wealth Building and College Savings I can discuss benefits of long-term and short-term investing I can explain what is meant by "tax-favored dollars" I can list different types of retirement plans I can differentiate between different types of retirement plans I can describe how pre-tax and after-tax investments work I can list types of college savings plans Unit 2 CREDIT AND DEBT Chapter 4: Dangers of Debt I can analyze the history and evolution of credit I can explain what credit is I can give examples of how credit is used by consumers I can discuss the advantages and disadvantages of using credit I can demonstrate the various ways people get into debt I can compare and contrast credit cards and debit cards
4, 5 5, 6 E1.2.2 E1.4.2 E4.1.1 E1.4.2 I can explain how the debt snowball works I can evaluate and refute the myths associated with debt Chapter 5: Consumer Awareness I can list the four major ways companies compete for your money I can evaluate the role opportunity cost plays in purchasing decisions I can distinguish what constitutes a significant purchase I can list the steps to take before making a significant purchase Chapter 6: Credit Bureaus and Collection Practices I can discuss credit reports and credit scores I can understand how my credit score affects my cost of using credit I can explain how to correct inaccuracies/mistakes on a credit report I can become familiar with the Federal Fair Debt Collection Practices Act and the parameters regulating collectors I can describe precautions that will protect you from identity theft 7-10 7 E1.2.2 E4.1.1 Unit 3 -- FINANCIAL RESPONSIBILITY AND MONEY MANAGEMENT Chapter 7: Budgeting 101 I can explain how money is active I can describe the benefits of a budget I can analyze reasons why people do not do a budget I can examine common problems associated with budget failures I can complete a zero-based budget I can manage a checking account Chapter 8: Bargain Shopping I can analyze and use the three keys to getting bargains I can describe the rules of negotiating I can explain why you should be honest when negotiating I can list places to find a great deal
7 E1.4.3 Chapter 9: Relating with Money I can explain the difference between a commission and an allowance I can explore how individuals view money differently I can identify personality traits regarding money 1 and E1.1.2 E4.1.6 Unit 4 -- INSURANCE/RISK MANAGEMENT AND INCOME/CAREERS Chapter 10: Careers and Employment Taxes I can discuss career choices that fit personality styles and occupational desires I can identify my personal strengths and weaknesses I can demonstrate successful job search and interview strategies I can create and evaluate resumes and cover letters I can explain the various types of taxes withheld from a paycheck I can calculate my payroll Chapter 11: Ins and Outs of Insurance I can explain why insurance is an essential part of a healthy financial plan I can identify and discuss the basic types of insurance coverage needed I can list types of insurance to avoid I can understand and use insurance terminology such as deductible, stop loss, elimination period, replacement coverage, liability and out-of-pocket maximum I can differentiate between the types of life insurance Chapter 12: Real Estate and Mortgages I can demonstrate knowledge of the buying, selling and renting processes in regards to real estate I can weigh the various costs associated with home ownership and renting I can identify the pros and cons of renting versus owning I can evaluate the various types of home mortgages I can compare and contrast a 15 year mortgage to a 30 year mortgage I can discuss what to look for when buying a home I can describe the steps to take to maximize the sale of a home Unit 5 FINANCIAL LITERACY PROJECT: LAZY COLT RANCH
1-12 E4 -- Personal Finance Standards Job Search I can complete a job search and properly fill out a job application. I can create a resume. I can write a letter of application. Payroll I can complete the paperwork to receive my pay check. (Form W-4) I can calculate my payroll for a given pay period. I can comprehend the purpose of a Form W-2 Budgets I can manage my money. I can create a personal monthly budget. Checking Accounts I can open a checking account. I can write checks and pay bills. I can deposit money. I can maintain an organized, accurate check register. I can compare my check register activity to the bank statement activity and reconcile the two. Savings Accounts I can set a savings goal. I can transfer money into my savings account. Credit Applications I can complete a credit application. Loan Agreements I can complete a loan agreement. Lease Agreements I can understand the purpose of a lease agreement. I can complete a lease agreement. Insurance I can have health insurance deducted from my pay check. I can purchase and pay for vehicle insurance, life insurance and property insurance. Tax Returns I can prepare my state and federal individual tax returns. (Form 1040 and MI 1040) Lazy Colt Ranch Folder and Materials
Unit 6 VIRTUAL STOCK MARKET PROJECT 1-12 Investments I can trade stocks in a virtual stock market I can discuss strategies for trading stocks I can understand how the stock market works I can research stock choices virtualstockexchange.com