Components

1.  Purpose
2.  Method of Instruction
3.  Course Proficiencies
4.  Homework Policy
5.  Materials
6.  Evaluation

Purpose

Personal Finance is a one-year course designed for those students desiring to gain a better understanding of how to manage your personal finances, and become better acquainted with the roles they will have to assume as a worker and a citizen in our society.

Students will be able to open and maintain checking and savings accounts; understand a payroll system and read tax charts, and prepare a 1040 EZ Tax Form for their personal use.

Other units of study include: planning your personal finances, banking and credit, investing in your financial resources, protecting your finances, and introduction to business finance.

While this is an extremely valuable course for all students, special attention is given to those students who might not possess strong mathematical skills.  Those who do possess strong mathematical skills and analytic ability, are recommended for, and often continue, in the accounting program.

Method of Instruction

Instruction is based on the textbook, worksheets, and supplementary forms/materials.  The personal finance vocabulary and working principles of various forms are explained through usage of textbook examples and overhead presentations.  The chalkboard is utilized to show additional illustrations of each topic, for better understanding, and for reinforcement.  In addition, related problems are given for homework assignments.

Projects are turned in for evaluation.  Tests and quizzes are given throughout the course, a notebook will be kept by each student and graded, and a final exam will be given.  It is the nature of the course to teach and reteach topics throughout the course to ensure mastery through continuous reinforcement and cooperative learning.
 

Course Proficiencies

In the following units, the student will be able to:

Unit 1:    Planning Personal Finances

1. List and explain the six steps involved in the financial planning process.

2. Understand the relationship between career planning and financial fulfillment.

3. Develop a personal balance sheet and cash flow statement and analyze your personal financial situation.

4. Appreciate the importance of wise buying decisions.

Unit 2:    Banking and Credit

1. Understand the significance of the selection and use of financial services and institutions.

2. Distinguish between the different types of checking accounts and explain the process involved with the opening of a checking account.

3. Distinguish the role that credit plays in buying decisions.

4. Identify the differences in renting vs. buying a house or apartment.

5. Understand the finances of housing and identify the four steps that occur in the home buying process.

Unit 3:    Investing Your Financial Resources

1. Recognize the value of long-term investment programs and the factors that affect a persons choice of investments.

2. Describe how stocks are bought and sold.

3. Explain the trading techniques used by long-term investors and short-term speculators.

4. Evaluate mutual funds and describe the reasons investors buy and sell mutual funds and the methods they use.

5. Identify different types of real estate investments and how to assess the advantages and disadvantages of each.

Unit 4:    Protecting your Finances

1. Describe the importance of taxes in financial planning.

2. Identify taxable income, complete a W-4 form, and prepare a federal income tax form.

3. Describe the insurance coverages and policy types available to homeowners and renters.

4. Analyze the factors that influence the amount of coverage and cost of home insurance.

5. Identify the important types of automobile coverage and evaluate the factors that affect the cost of automobile insurance.

6. Explain the importance of health insurance in financial planning and to analyze the costs and benefits of various types of health insurance coverage.

Unit 5:    Introduction to Business Finance

1. Identify the three parts of a business plan.

2. Explain the importance of financial management for business and describe the aspects of a financial plan.

3. Recognize the importance of accounting in financial management.

4. Describe the methods of paying employees and distinguish between required and voluntary payroll deductions.

5. Calculate gross earnings and overtime.
 

Homework Policy

Students have worksheets and/or problem-solving assignments almost every night for homework.  For parts of some units, an assignment may be given at the beginning of the week, due at the end of the week or the following week.  Students are responsible for submitting the assignment on the due date whether it is given on a daily or weekly basis.

Regarding classwork and homework:  if a student is absent for a day, the assignment will be due two days after the return to school.  If a student is absent for several days, up to a week, the student will be given two weeks to make up the assignment upon the student’s return to school.  If a student is absent longer than two weeks, a special arrangement will be made between the student and the teacher for completion of the work missed.  If assignments are not completed, a grade of (0) will be given for each missed assignment.

Materials

1. Text:   Business and Personal Finance; Kapoor, Dlabay, Hughes; Glencoe/McGraw-Hill; 1st Edition—c2002.

2. Supplementary materials including worksheets, overhead transparencies, applications, publishers booklets, Internet activities, and teacher prepared tests.

Evaluation

The following are considered in the computation of the student’s grade, with the approximate percentage for each.

   Unit Tests                25  -  35%
   Homework                 15  -  20%
   Quizzes                    10  -  15%
   Class Projects            25  -  30%
   Class Participation     5    -  10%