Personal Finance 1
Program Goal: The program will focus on the students’ role as a citizen, student, family
member, consumer, and active participant in the business world. It will inform them of
their various financial responsibilities and provide opportunities for self-awareness,
expression, and satisfaction.
Program Objective: A. Students will demonstrate an understanding of money
1. Compute payroll deductions and net pay
2. Identify optional and required employee benefits and
recognize their value
3. Explain several flexible job arrangements
4. Describe the role of unions and professional organizations in
5. Discuss the purpose of taxes and different types of taxes in
6. Describe components of the US tax system
7. Define tax vocabulary
8. Prepare tax Forms 1040EZ and 1040A
9. Describe and prepare personal budgets
10. Explain the purpose of record keeping
11. Prepare a net worth statement and a personal property
12. Discuss the elements of legal contracts and responsibilities
13. Describe negotiable instruments and warranties
14. Discuss ways to set up a filing system for personal records
15. Describe the purpose of a checking account.
16. Discuss how to prepare banking forms
17. Be able to distinguish between different types of checking
18. Describe various banking services
19. Identify services for which banks commonly charge fees.
Program Objective: B. Students will demonstrate understanding of financial security
1. Describe different purposes of saving.
2. Explain how money grows through compounding interest.
3. List and describe the financial institutions where you can
4. Explain the features and purposes of different savings options.
5. Discuss some factors that influence the selection of a savings
6. Explain at least two ways to save regularly.
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7. Describe the stages of investing and the relationship between
risk and return.
8. Discuss investment strategies, options, and sources of
9. List and describe sources of financial information to make
10. List and define basic investment option, rated by risk. 11. Describe the features of common and preferred stock. 12. Discuss stock investing classifications. 13. Explain how stock values are determined. 14. Discuss factors that affect a stock’s price.
15. Describe the process for buying and selling securities. 16. Describe short- and long-term investment strategies when
buying and selling stocks.
17. Explain how to read the stock listings and stock indexes. 18. Discuss the features and types of corporate bonds. 19. Calculate earnings and % yield on corporate bond. 20. Describe federal and municipal government securities bonds. 21. Describe how to buy and sell bonds.
22. Describe how to evaluate different grades of bonds. 23. Explain how to read bond listings in financial publications. 24. Explain what mutual funds are and their advantages 25. Discuss different types of mutual funds. 26. Describe how to evaluate mutual funds.
27. Describe direct and indirect real estate investments. 28. Discuss some risks and responsibilities of owning rental
29. Describe investments in precious metals, gems and
30. Discuss the nature of futures and options markets. 31. Describe a person’s or family’s needs at retirement.
32. List the features of wills, powers of attorney, trusts, and joint
33. Discuss inheritance, estate, and gift taxes. 34. Describe the features of retirement investments options. 35. Explain basic benefits available through pension plans.
Program Objective: C. Students will demonstrate an understanding of Credit
1. Describe how credit developed in America. 2. Define basic credit vocabulary.
3. Discuss the advantages and disadvantages of using credit. 4. List and describe the kinds of credit available. 5. Describe and compare sources of credit.
6. Discuss the importance and purpose of credit records.
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7. Describe the five Cs of credit.
8. Explain how to get started using credit.
9. Describe credit ratings and a point system for determining
10. Outline the contents of a credit report.
11. Discuss the protections provided by the major credit laws. 12. Describe the responsibilities of consumer credit. 13. Discuss how to protect your credit card from fraud. 14. Explain how you can reduce or avoid credit costs. 15. Explain methods for solving credit problems. 16. Outline bankruptcy laws and choices.
17. Discuss the major causes of bankruptcy.
18. Describe the advantages and disadvantages of declaring
Program Objective D. Students will demonstrate knowledge of Resource Management.
1. Apply the decision-making process to solve consumer
2. Explain economic needs and wants that influence consumer
3. List and describe factors that influence spending decisions. 4. Analyze marketing strategies that influence spending
5. Describe several housing rental alternatives. 6. Discuss potential living arrangements and moving choices. 7. List the advantages and disadvantages of renting a place to
8. Describe the elements of a rental application, rental inventory,
9. Discuss landlord and tenant responsibilities. 10. Discuss the advantages of home ownership. 11. Describe the costs and responsibilities of home ownership. 12. Describe the steps in the home-buying process. 13. Discuss how to obtain financing and the closing process. 14. Describe the process of buying a car.
15. Explain automobile leasing costs, processes, advantages, and
16. Discuss consumer protection available for new- and used-car
17. Identify the costs of owning and operating car. 18. Describe methods for extending the life of your car and
maintaining its resale value.
19. Describe the steps, costs, and planning involved in getting
20. Discuss important family living decisions.
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21. Outline the steps needed to plan a successful vacation. 22. Describe the steps and costs in a divorce. 23. Discuss preparations for death, life’s final plans.
Program Objective E. Students will examine different types of risks along with strategies
to manage risks.
1. Explain the concept of insurance.
2. Define insurance terminology and types of risk. 3. Discuss the risk-management process. 4. Explain how to create a risk-management plan. 5. Discuss ways to reduce the costs of insurance. 6. 6. Explain the purpose of renter’s and homeowner’s
7. Describe fire, theft, and other forms of property insurance
8. Discuss common types of automobile insurance coverage. 9. Describe group and individual health insurance plans. 10. Explain Medicare and Medicaid coverage. 11. Discuss different types of disability insurance. 12. Describe the characteristics of different life insurance plans.
Program Objective F. Students will explore wise buying practices and discover their
rights and responsibilities.
1. Describe deceptive practices used to defraud consumers.
2. Discuss how to be a responsible consumer.
3. Identify national sources of consumer information and
4. List and describe state and local agencies and private consumer
5. Define remedies available to consumers other that individual
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