Personal Finance
Syllabus
Course Essential Questions
- How does our ideal lifestyle shape our financial future?
- How will the financial skills we need evolve over time?
- What are the most influential financial decisions we make?
- What is required to ensure financial security?
Course Learning Objectives
- Align personal values and goals to financial practices.
- Apply financial standards to common life events.
- Use quantitative skills to evaluate financial decisions.
- Implement strategies to make financial decisions.
- Develop an authentic personal financial plan.
Unit 1: Financial Foundations (Weeks 1-4)
Unit Level Essential Questions
What fundamental financial concepts are relevant to our future?
Week 1: Money Habits and Values
Weekly Learning Objectives
- Identify personal financial goals.
- Conduct a self-evaluation of financial habits.
- Explore outside influences that impact financial habits.
- Determine the steps required to develop a financial plan.
Week 2: Economics and Consumer Decisions
Weekly Learning Objectives
- Describe the protections available to consumers.
- Evaluate how the external environment impacts personal finances.
- Analyze economic events and concepts in the context of consumerism and employment.
- Determine how changes in inflation, unemployment, and interest rates can influence personal finances.
Week 3: Pathways After High School
Weekly Learning Objectives
- Identify options available after high school.
- Conduct a cost-benefit analysis of post high school options.
- Evaluate post-secondary education and training based on current interests and future goals.
Week 4: Career and Income Planning
Weekly Learning Objectives
- Identify components of a paystub.
- Align career paths to personal values and goals.
- Develop a budget based on predicted income levels.
Unit 2: Essential Money Skills (Weeks 5-8)
Unit Level Essential Questions
How will we use financial skills in our daily life?
Week 5: Banking
Weekly Learning Objectives
- Identify the distinct functions of checking and savings accounts.
- Describe the role of banking products in personal finance.
- Manage a checking account.
Week 6: Taxes
Weekly Learning Objectives
- Identify opportunities to reduce tax liability.
- Calculate tax liability using tax brackets.
- Compare types of taxes and taxation methods.
Week 7: Building and Protecting Wealth
Weekly Learning Objectives
- Determine required and optional forms of insurance.
- Calculate potential costs associated with financial risks.
- Evaluate income and benefits in the context of overall career compensation.
Week 8: Managing Risks
Weekly Learning Objectives
- Identify ways to protect personal information.
- Describe the effects of identity theft.
- Develop an emergency savings plan.
Unit 3: Making Financial Decisions (Weeks 9-12)
Unit Level Essential Questions
What factors must be considered when making financial decisions?
Week 9: The Decision-Making Process
Weekly Learning Objectives
- Determine and prioritize necessary tradeoffs in financial decisions.
- Research common financial pitfalls to inform mitigation strategies.
- Evaluate scenarios for sunk costs and opportunity costs.
Week 10: Business and Entrepreneurship
Weekly Learning Objectives
- Compare forms of business structures.
- Identify opportunities and challenges presented by entrepreneurship.
- Conduct a skills inventory to explore entrepreneurial opportunities.
Week 11: Using Credit
Weekly Learning Objectives
- Distinguish between installment and revolving credit and their uses.
- Identify predatory lending practices.
- Calculate costs associated with using credit.
- Analyze the impact of credit scores on the cost of credit.
Week 12: Life’s Biggest Purchases
Weekly Learning Objectives
- Identify costs associated with major purchases.
- Describe how major life events can impact personal finances.
- Develop a forecast of future planned and unplanned expenses.
Unit 4: Ensuring Financial Security (Weeks 13-15)
Unit Level Essential Questions
How are the components of a financial plan connected?
Week 13: Investing
Weekly Learning Objectives
- Identify types of financial assets and securities.
- Recommend investments based on personal financial circumstances.
- Develop a diversification strategy for an investment portfolio.
Week 14: Financial Planning
Weekly Learning Objectives
- Distinguish between types of retirement plans.
- Describe how on-going financial decisions influence financial planning.
- Project savings required for retirement.
Week 15: Vision and Values of Financial Future
Weekly Learning Objectives
- Assess financial plans.
- Describe how financial plans can evolve over time.
- Create action items to implement a financial plan.