This topic emphasizes economic decisions related to financial management. Students will study a range of financial alternatives and explore basic decisions necessary to become informed employees, consumers, and citizens. General principles will be combined with practical applications to develop personal financial literacy.

1. Managing finances and budgeting

1. Banking – compare, contrast, and evaluate services provided by financial institutions

1. Checking Account

1. Manage checking account operations, both manual and electronic
2. Use mathematical operations to interpret and reconcile bank records
3. Utilize spreadsheet and financial software to maintain records

1. Recognize the relationship between financial planning and attaining financial goals
2. Use problem solving processes to identify and compare alternative savings methods including money market certificates and certificates of deposit
3. Use mathematical operations to calculate appropriate savings for a personal budget
4. Demonstrate use of spreadsheet software to make future projections about various possible savings plans
5. Investigate and evaluate various forms of investments

1. Stocks and mutual funds
2. Bonds
3. Retirement investments

1. Individual Retirement Account
2. Roth Individual Retirement Account
3. Tax Sheltered Annuity
4. Stock Options
5. Pensions
   
      d.    Real Estate  

6. Developing a personal budget

1. Use appropriate accounting methods to track expenditures
2. Develop the income portion of a budget
3. Identify and group similar expenditures into fixed and variable expenses
4. Forecast monthly expenditures
5. Use mathematical operations to calculate a budget
6. Utilize spreadsheet and financial software to track actual income and expenditures against a budget
7. Make cost and revenue predictions and adjustments to a budget

1. Provide examples of how individuals pay for public goods and services through taxes and fees
2. Analyze how taxes and tax policy affect individuals and institutions
3. Tax reporting

1. Identify and interpret information contained in W-2 and W-4 forms
2. Identify the information needed to prepare income tax forms
3. Interpret tables provided by the IRS and by state and city agencies
4. Perform the necessary mathematical computations
5. Prepare EZ income tax form and 1040A income tax form
6. Submit tax forms electronically

C.  Credit – understand the necessity of establishing and maintaining credit in today’s society

1. Sources and types of credit

1. Determine advantages and disadvantages of using credit
2. Select appropriate forms of credit for particular buying decisions
3. Compare and contrast the various types of credit cards

1. Credit rating and the importance to the consumer
2. Credit report components and how the information is used
3. How to maintain good credit rating
4. How to track and manage your credit history

1. Analyze the cost of various credit options
2. Describe rights and responsibilities of consumers
3. Analyze relationship between credit rating and the cost of credit

1. Title transfer and repossession
2. Fraud and loss liability
3. Collateral requirements
4. Cosigning

1. Product information

1. Using consumer resources to locate product information
2. Relating knowledge of financing and product information to a specific purchase

1. Installment buying
2. Mortgages
3. Compare and contrast advantages and disadvantages of purchasing with credit vs. cash
4. Use spreadsheet to perform mathematical calculations to supply accurate financing costs

1. Determine risk, risk tolerance, and loss prevention
2. Examine types of insurance associated with different types of risk

1. Automobile insurance
2. Home and apartment insurance
3. Health insurance
4. Life insurance
5. Personal and professional liability insurance
6. Long-term care and disability

               3.  Understand consequences of not carrying insurance

1. Identify legislation that regulates consumer credit and electronic credit transactions

1. Fair Credit Reporting Act
2. Fair Credit Billing Act
3. Equal Credit Opportunity Act
4. Fair Credit Collection Practices
5. Consumer Credit Protection Act

1. Federal Trade Commission Act
2. Consumer Product Safety Act
3. Consumer Leasing Act

                4.  Describe assistance provided by private and public protection agencies

                5.  Compare and contrast consumer protection in e-commerce as provided by the United    States