Title: Identify personal financial management tools and strategies.
Course: Agricultural Business Fundamentals I (18201-I) > Section: Managing Financial Records and Reports

Identification should include

- saving
- investing (e.g., 401-K, healthcare spending account [HSA], individual retirement account [IRA])
- calculating simple and compound interest
- borrowing (e.g., business loans, student loans, mortgages)

- guarding against identity theft
- obtaining a personal credit report and credit score on a regular basis.

Process/Skill Questions:

- Why should one have a personal financial management strategy?
- What is identity theft?
- How can one guard against identity theft?
- What steps can one take to evaluate the risks vs. benefits of an investment?
- What is an advantage of placing money in a savings account?
- Who can provide advice about investing money?
- What resources can one use to check one’s credit score?
- How can one improve or build one’s credit score?