Students will be able to:

1. Identify sources of income.
2. Analyze how career choice, education, skills, and economic conditions affect income.
3. Explain how taxes, government transfer payments, and employee benefits relate to disposable income.

1. People can earn income from rent and interest.
    
2. Wages/salaries minus payroll deductions equals take-home pay.
3. Inflation reduces the purchasing power of income.
    
4. Government transfer payments provide unearned income to some households.
    
5. Generally, people earn higher incomes with higher levels of education.

1. Give examples of ways to earn rent and interest income.
    
2. Give examples of required and voluntary payroll deductions.
3. Define inflation and how it affects the purchase of goods and services.
    
4. Give examples of government transfer payments, such as reduced-price school lunches and social security survivor’s benefits.
    
5. Compare the income and education requirements of different occupations.

Students will be able to:

1. Explain how limited personal financial resources affect the choices people make.
2. Identify the opportunity cost of financial decisions.
3. Discuss the importance of taking responsibility for personal financial decisions.
4. Apply a decision-making process to personal financial choices.
5. Explain how inflation affects spending and investing decisions.
6. Describe how insurance and other risk-management strategies protect against financial loss.
7. Design a plan for earning, spending, saving, and investing.
8. Explain how to use money-management tools available from financial institutions.

1. Financial choices that people make have benefits, costs, and future consequences.
    
2. A key to financial well-being is to spend less than you earn and save the difference.
3. People perform basic financial tasks to manage money.
    
4. A budget identifies expected income and expenses, including saving, and serves as a guide to help people live within their income.
    
5. Risk management strategies include risk avoidance, risk control, and risk transfer through insurance.

1. Describe the advantages and disadvantages of spending now rather than saving for a future goal.
    
2. Give examples of how saving money can improve financial well-being.
3. Demonstrate skill in basic financial tasks such as paying bills on time, balancing a checkbook, keeping financial records, and checking a credit card statement for accuracy.
4. Develop a balanced personal budget showing expected income and expenses, including saving.
    
5. Give examples of various ways to manage risk, such as avoiding daredevil tricks on a skateboard and locking car doors and school lockers to deter theft.

Students will be able to:

1. Compare the benefits and costs of spending decisions.
2. Evaluate information about products and services.
3. Compare the advantages and disadvantages of different payment methods.
4. Analyze the benefits and costs of consumer credit.
5. Compare sources of consumer credit.
6. Explain factors that affect creditworthiness and the purpose of credit records.
7. Identify ways to avoid or correct credit problems.
8. Describe the rights and responsibilities of buyers and sellers under consumer protection laws.

1. A consumer should not rely on advertising claims as the sole source of information about goods and services.
2. Comparison shopping helps consumers get the best value for their money.
3. Some payment methods are more expensive than others.
    
4. Online transactions can make consumers vulnerable to privacy infringement and identity theft.
    
5. Comparing the costs and benefits of buying on credit is key to making a good purchase decision.
6. For any given loan amount and interest rate, the longer the loan period, the smaller the monthly payment and the larger the total cost of credit.
7. Consumers can choose from a variety of credit sources.
    
8. Credit bureaus maintain credit reports, which record borrowers’ histories of repaying loans.
    
9. Sometimes people borrow more money than they can repay.
    
10. Laws and regulations exist to protect consumers from a variety of seller and lender abuses. (See glossary.)

1. Describe ways to verify advertising claims for a variety of consumer products.
2. Compare the value of a good or service from three different sellers.
    
3. Calculate and compare the total cost of paying for a purchase with cash versus paying by check, debit card, and credit card.
    
4. Analyze the privacy policies of online shopping sites.
5. Calculate the costs and benefits of borrowing to buy, given a scenario including purchase price and credit terms.
6. Describe the consumer advantages and disadvantages of a short-period loan versus a long-period loan.
7. Compare annual percentage rates and total credit costs for a given loan amount and time from three different types of lenders.
8. Explain the value of credit reports to borrowers and lenders.
    
9. Describe indicators and consequences of excessive debt, such as skipping payments, juggling bills and wage garnishment.
    
10. Give examples of abuses, such as fraud and the sale of faulty products, that consumer protection laws and regulations address.
    
    
     

Students will be able to:

1. Explain the relationship between saving and investing.
2. Describe reasons for saving and reasons for investing.
3. Compare the risk, return, and liquidity of investment alternatives.
4. Describe how to buy and sell investments.
5. Explain how different factors affect the rate of return of investments.
6. Evaluate sources of investment information.
7. Explain how agencies that regulate financial markets protect investors.

1. Saving is for emergencies and short-term goals, and investing is for long-term goals. Funds for investing often come from savings.
    
2. Savings and investing products differ in their potential rate of return, liquidity, and level of risk.
    
3. There is usually a positive relationship between the average annual return on an investment and its risk.
    
4. Compound interest is earned on both principal and previously earned interest.
    
5. Inflation reduces the return on an investment.
    
6. The Rule of 72 is a tool for estimating the time or rate of return required to double a sum of money.
   
    
7. Investors can get information from many sources.
8. People can buy and sell investments in different ways.
    

1. Explain reasons to save and invest.
    
2. Describe appropriate financial products for different financial goals, such as bank accounts for savings and stocks for investments.
3. Identify the amount of investment risk associated with different investments.
    
4. Calculate and compare simple interest and compound interest earnings and explain the benefits of compound interest.
    
5. Explain how inflation affects investment returns.
    
6. Use the Rule of 72 to estimate the time or interest rate it would take to double an amount of money.
    
7. Describe the investment information different sources provide, such as a prospectus, Wall Street Week, and financial publications.
    
8. Compare the advantages and disadvantages of different ways to buy and sell investments, such as financial advisors, investment clubs, and online brokers.