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Personal Finance

  • Overview
  • Activity 1
  • Activity 2
  • Activity 3
  • Activity 4
  • Activity 5
  • Activity 6
  • Activity 7
  • Activity 8
  • Activity 9
  • Activity 10
  • Extra Credit
After successfully completing the Personal Finance Module, students will be able to do the following:

• Discuss the financial life cycle and define risk.
• Identify the steps in the financial planning process.
• Use a computer program to create a spreadsheet.
• Identify the steps in the decision making model.
• Define decision making and use a decision–making process to allocate funds into savings to attain long-term and short-term goals.
• Discuss the factors that influence career and professional development decisions.
• Discuss telecommuting.
• Differentiate between future value calculations and market value calculations.
• Complete a W-4 Form and an Employment Agreement Form.
• Explain money management.
• Differentiate between assets and liabilities.
• List the aspects that comprise personal finance statements.
• Identify the four phases of the budgeting process.
• Create a budget using a computer program.
• Discuss the risks involved with investing.
• Discuss different types of investing.
• Define mutual fund.
• List the categories of savings plans.
• Differentiate between regular savings accounts and club accounts.
• Draw a supply and demand curve.
• Compare and contrast brand name products to store-brand products.
• Explain the unit pricing principle.
• Identify the economic, social, and personal factors that influence purchasing decisions.
• List the four steps of the purchasing decision process.

Objectives:  After successfully completing Activity 1, you will be able to do the following:

1. Discuss the financial life cycle.
2. Define risk.
3. Identify the steps in the financial planning process.
4. Correctly count money and make change.
5. Complete a shift report.
6. Determine if a drawer is long or short.

Worksheets:  Activity 1 Worksheet
 

Objectives:  After successfully completing Activity 2, you will be able to do the following:

1. Identify the steps in the decision-making model.
2. Define decision-making.
3. Use a decision-making process to allocate funds into savings to attain long-term and short-term goals.

Worksheets: Activity 2 Worksheet

Objectives:  After successfully completing Activity 3, you will be able to do the following:

1. Discuss the factors that influence career and professional development decisions.
2. Discuss telecommuting.
3. Differentiate between future value calculations and market value calculations.
4. Complete a W-4 Form and an Employment Agreement Form.

Worksheets:  W-4 Worksheet, Employee Agreement Worksheet

Objectives:  After successfully completing Activity 4, you will be able to do the following:

1. Explain money management.
2. Differentiate between assets and liabilities.
3. List the aspects that comprise personal finance statements.
4. Identify the four phases of the budgeting process.
5. Create a budget using a computer program.

Worksheets:  None

Objectives: After successfully completing Activity 5, you will be able to do the following:

1. Discuss the risks involved with investing.
2. Discuss different types of investing.
3. Define mutual fund.
4. List the categories of savings plans.
5. Differentiate between regular savings accounts and club accounts.
6. Draw a supply and demand curve.

Worksheets:  Activity 5 Worksheet

Objectives: After successfully completing Activity 6, you will be able to do the following:

1. Compare and contrast brand name products to store brand products.
2. Explain the unit pricing principle.
3. Identify the economic, social, and personal factors that influence purchasing decisions.
4. List the four steps of the purchasing decision process.
5. Complete quality comparisons between products.

Worksheets:  None

Objectives: After successfully completing Activity 7, you will be able to do the following:

1. Explain the various types of checking accounts.
2. Identify the services offered by banks and financial institutions.
3. Discuss how technology has influenced the financial services industry.
4. Demonstrate knowledge of bank reconciliation using a computer program.

Worksheets:  None

Objectives: After successfully completing Activity 8, you will be able to do the following:

1. Define annual percentage rate.
2. Differentiate between closed-end credit and open-end credit.
3. Discuss how to protect yourself against credit card fraud.
4. Define credit bureaus.
5. Use a computer program to calculate monthly payments for mortgages and to pay off credit cards.

Worksheets:  Activity 8 Worksheet

Objectives:  After successfully completing Activity 9, you will be able to do the following:

1. Discuss common risk classifications.
2. List different types of insurance.
3. Differentiate between strict liability and vicarious liability.
4. Compare and contrast personal risk and property risk.
5. Use a computer program to create a household inventory.

Worksheets:  None

Objectives:  After successfully completing Activity 10, you will be able to do the following:

1. Demonstrate your knowledge of personal finance by taking the Post-Test.
2. Complete any unfinished activities.

Worksheets:  None

Activity 11: Problem Solving (Found in Workbook), Crossword Puzzle, Vocabulary Quiz (Found in Workbook)
Activity 12: Challenge 
Activity 13: Open-Ended Challenge
Activity 14: Careers
Activity 15: Internet Activity (Found in Workbook)