Title: Personal Finance (19262-II)

Demonstrating Personal Qualities and Abilities
  Demonstrate creativity and innovation.
  Demonstrate critical thinking and problem-solving.
  Demonstrate initiative and self-direction.
  Demonstrate integrity.
  Demonstrate work ethic.
  WorkplaceReadinessSkillsPoster2019.pdf
Demonstrating Interpersonal Skills
  Demonstrate conflict-resolution skills.
  Demonstrate listening and speaking skills.
  Demonstrate respect for diversity.
  Demonstrate customer service skills.
  Collaborate with team members.
Demonstrating Professional Competencies
  Demonstrate big-picture thinking.
  Demonstrate career- and life-management skills.
  Demonstrate continuous learning and adaptability.
  Manage time and resources.
  Demonstrate information-literacy skills.
  Demonstrate an understanding of information security.
  Maintain working knowledge of current information-technology (IT) systems.
  Demonstrate proficiency with technologies, tools, and machines common to a specific occupation.
  Apply mathematical skills to job-specific tasks.
  Demonstrate professionalism.
  Demonstrate reading and writing skills.
  Demonstrate workplace safety.
Examining All Aspects of an Industry
  Examine aspects of planning within an industry/organization.
  Examine aspects of management within an industry/organization.
  Examine aspects of financial responsibility within an industry/organization.
  Examine technical and production skills required of workers within an industry/organization.
  Examine principles of technology that underlie an industry/organization.
  Examine labor issues related to an industry/organization.
  Examine community issues related to an industry/organization.
  Examine health, safety, and environmental issues related to an industry/organization.
Addressing Elements of Student Life
  Identify the purposes and goals of the student organization.
  Explain the benefits and responsibilities of membership in the student organization as a student and in professional/civic organizations as an adult.
  Demonstrate leadership skills through participation in student organization activities, such as meetings, programs, and projects.
  Identify Internet safety issues and procedures for complying with acceptable use standards.
Exploring Work-Based Learning
  Identify the types of work-based learning (WBL) opportunities.
  (Optional) Reflect on lessons learned during the WBL experience.
  Explore career opportunities related to the WBL experience.
  (Optional) Participate in a WBL experience, when appropriate.
Developing Consumer Skills
  Examine basic economic concepts and their relation to product prices and consumer spending.
  Examine the effect of supply and demand on wages and prices.
  Describe the steps for making a purchase decision.
  (Optional) Describe common types of contracts and the implications of each.
  Demonstrate comparison-shopping skills.
  Maintain a secure system for personal financial records.
  Examine the impact of advertising and marketing on consumer demand and decision making in the global marketplace.
  Access reliable financial information from a variety of sources.
  Explain consumer rights, responsibilities, remedies, and the importance of consumer vigilance.
  Examine precautions for protecting identity and other personal information.
  Interact effectively with salespersons and merchants.
  (Optional) Describe consumer protection regulations.
  (Optional) Describe the role of consumer assistance agencies.
Demonstrating Knowledge of Planning for Living and Leisure Expenses
  Compare the costs and benefits of purchasing vs. leasing a vehicle and other methods of transportation.
  Compare the advantages and disadvantages of renting vs. purchasing a residence.
  Describe the process of renting a residence.
  Describe the process of purchasing a residence.
  Calculate the cost of utilities, services, maintenance, and other housing expenses involved in independent living.
  Evaluate discretionary spending decisions.
Demonstrating Knowledge of Banking Transactions
  Describe the types of financial institutions.
  Examine how financial institutions affect personal financial planning.
  Evaluate services and related costs associated with personal banking.
  Compare contemporary, non-traditional methods of payment between parties.
  Differentiate among types and regulations of electronic monetary transactions.
  Prepare all forms necessary for opening and maintaining a checking and a savings account.
  Reconcile bank statements.
  Compare costs and benefits of online, mobile, and traditional banking.
  Explain how certain historical events have influenced the banking system and other financial institutions.
  (Optional) Compare the U.S. monetary system with the international monetary system.
Demonstrating Knowledge of Credit and Loan Functions
  Evaluate the various methods of financing a purchase.
  Analyze credit card features and their impact on personal financial planning.
  Identify qualifications needed to obtain credit.
  Identify basic provisions of credit and loan laws.
  Compare terms and conditions of various sources of consumer credit.
  Identify strategies for effective debt management, including sources of assistance.
  Explain credit rating and credit report.
  Compare the costs and conditions of secured and unsecured loans.
  Compare amortization schedules for loans.
  Compare the types of voluntary and involuntary bankruptcy and the implications of each.
  (Optional) Calculate payment schedules for a loan, using spreadsheets, calculators, and/or online tools.
  (Optional) Complete a sample credit application.
Demonstrating Knowledge of the Role of Insurance in Risk Management
  Evaluate insurance as a risk-management strategy.
  Distinguish among the types, costs, and benefits of automobile insurance coverage.
  Distinguish among the types, costs, and benefits of life insurance.
  Distinguish among the types, costs, and benefits of property insurance.
  Distinguish among the types, costs, and benefits of health insurance.
  Explain the roles of insurance in financial planning.
  Distinguish among the types of professional liability insurance.
Demonstrating Knowledge of Income Earning and Reporting
  Examine how personal choices about education, training, skill development, and careers impact earnings.
  Differentiate among employment arrangements and sources of income.
  Explain the content and purpose of a standard W-2 and 1099 form.
  Calculate net pay.
  Investigate employee benefits and incentives.
  Complete standard federal employment tax forms.
Demonstrating Knowledge of Taxes
  Describe the types and purposes of local, state, and federal taxes and the way each is levied and used.
  Explore how tax structures affect consumers, producers, business owners, and individual of varying income levels differently.
  Compute local taxes on products and services.
  (Optional) Explain the similarities and differences between state and federal taxation of inheritances.
  Examine potential tax deductions and credits on a tax return.
  Define the terminology associated with inheritance.
  (Optional) Compare investment options for a monetary inheritance.
  (Optional) Examine types and purposes of estate planning.
  (Optional) Complete a state income tax form, including electronic formats.
  (Optional) Complete short and itemized federal income tax forms, including electronic formats.
Demonstrating Knowledge of Personal Financial Planning
  Identify short-term and long-term personal financial goals.
  Identify anticipated and unanticipated income and expenses.
  Examine components and purposes of a personal net worth statement.
  Develop a personal budget.
  Investigate the effects of government actions and economic conditions on personal financial planning.
  Explain how economics influences a personal financial plan.
  Examine the fundamental workings of the Social Security system and the system’s effects on retirement planning.
  Compare alternative retirement plans.
Demonstrating Knowledge of Investment and Savings Planning
  Compare the impact of simple interest vs. compound interest on savings.
  Compare investment and savings options.
  (Optional) Explain costs and income sources for investments.
  Explore how the stock and bond markets work.
  Identify investment products.
Financing Education after High School
  Identify sources of financial aid.
  Explain how to apply for financial aid for post-secondary education and training.
  Explain how to remain eligible for financial aid for post-secondary education and training.
  Examine types of student loans.
  Explain the repayment process for student loans.
  Describe types of student grants.
  Describe types of scholarships.
  Describe investment options to pay for postsecondary education costs.
  Identify ways to make the cost of postsecondary education affordable.
Preparing for Industry Certification
  Describe the process and requirements for obtaining industry certifications related to the Economics and Personal Finance course.
  Identify testing skills/strategies for a certification examination.
  Demonstrate ability to successfully complete selected practice examinations (e.g., practice questions similar to those on certification exams).
  Successfully complete an industry certification examination representative of skills learned in this course (e.g., W!SE Financial Literacy Examination).
Developing Career Exploration and Employability Skills
  (Optional) Investigate career opportunities.
  (Optional) Identify personal interests, aptitudes, and attitudes related to the characteristics found in successful workers.
  (Optional) Prepare a professional portfolio.
  (Optional) Research a company in preparation for a job interview.
  (Optional) Participate in mock interviews to refine interviewing techniques.
  (Optional) Prepare employment-related correspondence.
ADDITIONAL COURSE INFORMATION
  6121 Student Competency Record_Copyright 2022.xlsx
  Instructional Scenarios.pdf
  6121 Standards Correlations.pdf
  6121 Credentials-Sequences-Clusters.pdf
  6120 6121 Acknowledgments and Copyright.pdf