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Transitional Skills Center – Developing Habits for Success (Semester 2) Personal Finance – Financial Success In Life After High School Teacher: Haltinner, Betsy Unit/duration: Unit 1 – Personal Finance Introduction (1 week) Essential Questions Overriding Skills Skills/Content How can understanding effective personal finance strategies improve my life? What can I do to ensure that I will be successful when making and managing money? Reading: Comprehension Discussion: Application Define personal income Discuss and identify the payroll deductions that are withheld from paychecks Recognize the 4 four choices that can be made with our money Describe the importance of developing effective spending habits Develop financial goal(s) statement Unit/duration: Unit 2 – Our Economy (2 weeks) Essential Questions Overriding Skills Skills/Content How does understanding the economy help me make better financial decisions? How do business cycles affect my personal income? Analysis: Cause\Effect Reading: Research, Interpret Discussion: Sharing Identify the key components of and differences between Command, Market, and Traditional economies Demonstrate understanding of scarcity and how it is addressed in the three types of economies Explain the four phases of a business cycle Interpret how these cycles can affect personal income Unit/duration: Unit 3 – Managing Money (2 weeks) Essential Questions How will developing effective spending habits affect my financial future? Overriding Skills Reading: Comprehension, Interpret Discussion: Questioning Analysis: Cause/Effect Explain the difference between a needs and wants Develop a list of needs to live independently and determine the costs of these items Prepare an yearly/monthly/weekly expense vs. income needed chart Discuss the importance of establishing good credit and how one is able to achieve a good credit rating Calculate interest rates on credit accounts Skills/Content Unit/duration: Unit 4 – Multiplying Your Money (3 weeks) Essential Questions Overriding Skills Skills/Content Why is it important to have a savings plan to ensure financial success? How can saving and investing help me earn additional income? Reading: Research Discussion: Presenting Analysis: Evaluation Evaluate the differences between savings accounts, stocks, and bonds Explain how investing in real estate and business ventures help you increase your income Select a stock, research the company, monitor the stock over a period of 10 school days, and report out financial gain or loss Unit/duration: Unit 5 – Protecting Your Money (2 weeks) Essential Questions Overriding Skills Skills/Content What steps can I take to protect my money? Reading: Comprehension, Purpose Analysis: Cause/Effect, Interpretation Identify the various methods of protecting assets Discuss the benefits of insurance Relate how the act of budgeting can reduce risk of experiencing financial loss Examine the concept of “Easy Money” Personal Finance Final Assessment This unit will be followed by a comprehensive final. This assessment will consist of multiple choice, true or false, and short response questions. There will also be an essay question asking the student to reflect on their learning in this course and discuss the most important lesson(s) they have taken away from this course. Performance Indicator – Students will need to earn 70% of the points possible on this assessment to show mastery of Personal Finance.