personal finance - st. charles high school · 9-12 personal finance course description...

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Personal Finance

School District of the City of St. Charles

Approved by the Board of Education April 12, 2018

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9-12 Personal Finance Curriculum Committee

Curriculum Committee Chairperson Tina Lauer, Administration Building, Instructional Technology Specialist

Curriculum Developers Patrick Gebhard, St. Charles High School

Pam Meyer, Success Campus Robyn McLaughlin, St. Charles West High School

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9-12 Personal Finance Curriculum

TABLE OF CONTENTS Table of Contents ………………………………………………………………………………………………………. 3 District Mission Statement ………………………………………………………………………………………… 4 District Vision …………………………………………………………………………………………………………… 4 District Values …………………………………………………………………………………………………………… 4 District Goals ………………………………………………………………………………………………………….….. 5 Philosophical Foundations …………………………………………………………………………………………. 5 Personal Finance Philosophy ……………………………………………………………………………………… 6 Personal Finance Course Description ………………………………………………………………………….. 6 Personal Finance Rationale ………………………………………………………………………………………… 6 Personal Finance Program Goals …………………………………………………………………………………. 6 Personal Finance Essential Learner Outcomes ……………………………………………………………... 7 Personal Finance Curriculum ………………………………………………………………………………………. 8 Appendix - Course Level Expectations (Missouri Learning Standards) ………………………...... 59

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District Mission

The City of St. Charles School District will REACH, TEACH, and EMPOWER all students by providing a challenging, diverse, and innovative education.

District Vision

The City of St. Charles School District will be an educational leader recognized for high performance and academic excellence that prepares students to succeed in an ever-changing global society.

District Values

We, the City of St. Charles School District community of students, parents, staff, and patrons, value:

➢ High quality education for all students which includes: ● Lifelong learning from early childhood through adult education ● Rigorous learning experiences that challenge all students ● Instruction that meets the needs of a diverse community ● Respect for all ● Real world, critical thinking and problem-solving skills to prepare students for the 21st

Century ● Developing caring, productive, and responsible citizens ● Strong engagement of family and community ● A safe, secure, and nurturing school environment

➢ Achievement through:

● Celebration of individual success ● Collaboration with parents and community stakeholders ● Exploration, Innovation, and creativity

➢ High quality staff by: ● Hiring and retaining highly qualified and invested employees ● Providing professional development and collaboration focused on increasing student

achievement ● Empowering staff to use innovative resources and practices

➢ Informed decisions that are: ● Student-centered ● Focused on student achievement ● Data Driven ● Considerate of all points of view ● Fiscally responsible

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District Goals For planning purposes, five overarching goals have been developed. These goals are statements of the key functions of the school district.

1. Student Performance ● Develop and enhance the quality educational/instructional programs to improve student

performance and enable students to meet their personal, academic, and career goals. 2. Highly qualified staff

● Recruit, attract, develop, and retain highly qualified staff to carry out the District’s mission, vision, goals, and objectives.

3. Facilities, Support, and Instructional Resource ● Provide and maintain appropriate instructional resources, support services, and

functional and safe facilities. 4. Parent and Community Involvement

● Promote, facilitate and enhance parent, student, and community involvement in district educational programs.

5. Governance ● Govern the district in an efficient and effective manner providing leadership and

representation to benefit the students, staff, and patrons of the district.

School District Philosophical Foundations Teachers in the School District of the City of St. Charles share in and ascribe to a philosophy that places children at the heart of the educational process. We feel that it is our professional responsibility to strive to be our best at all times and to maximize our efforts by ensuring that the following factors are present in our classrooms and our schools.

1. Learning is developed within the personal, physical, social, and intellectual contexts of the learner.

2. A strong educational program should provide developmental continuity. 3. The successful learner is motivated, strategic, knowledgeable, and interactive. 4. Children learn best when they have real purposes and can make connections to real life. 5. Effective learning is a combination of student exploration and teacher and mentor modeling. 6. Assessment is an ongoing and multidimensional process that is an integral part of

instruction. 7. Making reading and writing connections across multiple sources and curricula facilitates

meaning. 8. Literacy for the future means literacy in multiple technologies. 9. Education must respond to society’s diverse population and serve all children. 10. Interactions among students, teachers, parents, and community form the network that

supports learning.

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9-12 Personal Finance Philosophy The philosophy of Personal Finance is to help students to become financially responsible and conscientious members of society, to reach that end, this course develops students’ understanding and skills in such areas as money management, budgeting, financial goal attainment, income and careers, the wise use of credit and debt management, becoming a critical consumer, insurance, investments, and savings.

9-12 Personal Finance Course Description

Understanding and managing personal finances are key to one’s future financial success. This one-semester course is based on the Missouri Personal Finance Competencies and presents essential knowledge and skills to make informed decisions about real world financial issues. Students will learn how choices influence occupational options and future earning potential. Students will also learn to apply decision-making skills to evaluate career choices and set personal goals. The course content is designed to help the learner make wise spending, saving, and credit decisions and to make effective use of income to achieve personal financial success.

9-12 Personal Finance Rationale

Financial literacy is essential in meeting the financial challenges of the 21st Century. The competencies which form the basis for this semester course enable students to analyze their personal financial decisions, evaluate the costs and benefits of their decisions, recognize their rights and responsibilities as consumers, and apply the knowledge learned in school to financial situations encountered later in life.

9-12 Personal Finance Program GoaIs

Graduates from this course will be able to:

1. Explain financial literacy and how sound financial decisions can increase a person’s standard of living and wealth.

2. Develop a career path based on rational decision making, appropriate research and self-reflection.

3. Apply decision making to personal financial choices (planning, maintaining and analyzing money management) throughout various stages of financial status.

4. Evaluate the sources and resources of financial systems that are available throughout various stages of financial status.

5. Evaluate sources of credit, as well as the rights and responsibilities of credit, and be able to apply a decision-making process to ensure appropriate purchases.

6. Evaluate investments and create a plan for the future.

7. Apply the rights and responsibilities of consumers to personal living and financial choices.

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9-12 Personal Finance Enduring Understandings/Learner Outcomes

1. People can increase income and job opportunity by acquiring more education and skills

2. People receive compensation in various forms

3. People have taxes and other deductions taken from their income

4. People can create a budget to differentiate between income and expenses

5. People should create a budget that includes housing and transportation, being prepared for

emergencies, and savings.

6. People can identify alternative payment methods

7. People can use various institutions for financial needs

8. People have unlimited wants, but limited resources

9. People have financial choices and decisions to make daily

10. People can create a budget to differentiate between income and expenses

11. People should create a budget that includes housing and transportation, being prepared for

emergencies, and savings.

12. People can identify alternative payment methods

13. People can use various institutions for financial needs

14. People’s savings are affected by time, interest rates, and inflation.

15. People choose among different credit options that have different costs.

16. Credit choices will impact the value of your financial future.

17. People can choose to accept risk, reduce risk, or share the risk with others.

18. Insurance allows people to transfer risk by paying a fee now to avoid the possibility of a

larger loss later.

19. The price of insurance is influenced by an individual’s circumstances and behavior.

20. Investors choose among investments that have different risks and expected rates of return.

21. Investments with higher expected rates of return tend to have greater risk.

22. Diversification of investment among several choices can lower investment risk.

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MATERIALS / INSTRUCTIONAL RESOURCES FOR THIS UNIT: ● Managing Your Personal Finances (7th edition)-Cengage

● Managing Your Personal Finances: Student Activity Guide-Cengage

● https://nefe.org/

● https://www.econedlink.org

● https://www.stlouisfed.org/education

● EverFi - Financial Literacy -

https://platform.everfi.net/registration/login

● https://www.oercommons.org/courses/personal-finance/view

● http://www.oercommons.org/courses/financial-literacy-q1/view


BIG IDEA(S): ● Choice is the central principle of financial decision-making for

individuals, businesses, and government.

ENDURING UNDERSTANDINGS: ● People have unlimited wants, but limited resources ● People have financial choices and decisions to make daily

ESSENTIAL QUESTIONS: ● How is the cost of something determined? ● What is the relationship between choice and opportunity cost? ● How can an individual make an informed and researched financial

decision? WHAT SHOULD STUDENTS KNOW, UNDERSTAND, AND BE ABLE TO DO AT THE END OF THIS UNIT?

Standards, Concepts, Content, Skills, Products, Vocabulary REFERENCE/STANDARD

i.e. GLE/CLE/MLS/ISTE STANDARDS: Content specific standards that will be addressed in this unit. MAJOR

STANDARD SUPPORTING STANDARD

MLS I.1A Unlimited Wants and Limited Resources

Evaluate the role of choice in decision-making. X

MLS I.1B Unlimited Wants and Limited Resources

Apply a rational decision-making process. X

MLS I.2A Choice and Decision-Making Explain how today’s choices have future consequences. X MLS I.2B Choice and Decision-Making Explain the casual relationship between choice and opportunity cost. X MLS I.2C Choice and Decision-Making Analyze how choices can result in unintended consequences. X

UNIT TITLE: Financial Decision Making (Strand 1)

UNIT DURATION: 2 weeks

CONTENT AREA: Personal Finance

COURSE/Grade Level: Personal Finance/High School

https://nefe.org/

https://www.econedlink.org/

https://www.stlouisfed.org/education


https://www.oercommons.org/courses/personal-finance/view

http://www.oercommons.org/courses/financial-literacy-q1/view


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OBJECTIVE # 1 The students will understand that people have unlimited wants but have limited resources. REFERENCES/STANDARDS

• MLS I.1.A&B

WHAT SHOULD STUDENTS… UNDERSTAND?

Concepts; essential truths that give meaning to the topic; ideas that transfer across situations.

KNOW? Facts, Names, Dates, Places, Information,

ACADEMIC VOCABULARY

BE ABLE TO DO? Skills; Products

• Students will understand that choices

must be made based on available

resources.

• Opportunity cost, scarcity, values, wants, needs

• The student will be able to use a decision-

making model to determine the best choice

available.

FACILITATING ACTIVITIES – STRATEGIES AND METHODS FOR TEACHING AND LEARNING TEACHER INSTRUCTIONAL ACTIVITY STUDENT LEARNING TASK DOK TARGET

(1=Recall, 2=Skill/Concept, 3=Strategic Thinking, 4=Extended Thinking)

• Opportunity Cost activity • Scarcity activity • Decision-making process • Wants vs. needs activity

• Worksheet • Vocabulary assignment • Complete decision-making model • worksheet

2 2 3/4 2

INTERDISCIPLINARY CONNECTION CAREER CONNECTION

• Mathematics, economics, computer skills • All jobs require decision-making

HOW DO WE KNOW WHAT STUDENTS HAVE LEARNED? ASSESSMENT DESCRIPTION FORMATIVE

OR SUMMATIVE?

DOK TARGET (1=Recall, 2=Skill/Concept, 3=Strategic Thinking,

4=Extended Thinking)

• Opportunity cost • Decision-making • Unit test

Formative Formative Summative

3 3 3/4

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HOW WILL WE RESPOND IF STUDENTS HAVE NOT LEARNED? Possible Interventions

INSTRUCTIONAL ACTIVITY/METHOD STUDENT LEARNING TASK DOK TARGET (1=Recall, 2=Skill/Concept, 3=Strategic Thinking,


• Academic Intervention Period • Remediation and retesting 2/3

HOW WILL WE RESPOND IF STUDENTS HAVE ALREADY LEARNED? Possible Extensions/Enrichments

INSTRUCTIONAL ACTIVITY/METHOD

STUDENT LEARNING TASK DOK TARGET (1=Recall, 2=Skill/Concept, 3=Strategic Thinking,


• Community issue or event • Using decision-making model to fix a

problem in the community

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OBJECTIVE # 2 The students will understand that choices must be made through a decision-making process. REFERENCES/STANDARDS

• MLS I.2.A, B, & C




ACADEMIC VOCABULARY


• Students will understand how today’s

choices have future consequences

• Goal setting, opportunity cost, values, wants, needs.

• The students will be able to create a goal using the SMART goal format.



• SMART goal activity

• Create a SMART goal

2/3


• Mathematics, computers • All careers need to make decisions

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HOW DO WE KNOW WHAT STUDENTS HAVE LEARNED? ASSESSMENT DESCRIPTION FORMATIVE OR

SUMMATIVE? DOK TARGET


• Decision-making quiz

• Unit test

• Formative • Summative

2/3 3/4


TEACHER INSTRUCTIONAL ACTIVITY STUDENT LEARNING TASK DOK TARGET (1=Recall, 2=Skill/Concept, 3=Strategic

Thinking, 4=Extended Thinking)

• Academic Intervention Period • Remediation and retesting 2/3



STUDENT LEARNING TASK DOK TARGET (1=Recall, 2=Skill/Concept, 3=Strategic

Thinking, 4=Extended Thinking)

• Community issue or event • Using decision-making model to fix a

problem in the community

4

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Proficiency Scales – Strand 1

Strand 1: Financial Decision Making

Topic/Objective: The students will understand that people have unlimited wants but have limited resources.

Course/Grade Level: Personal Finance - High School Sample Tasks

Score 4.0

In addition to Score 3.0, in-depth inferences and applications that go beyond what was taught.

• Community issue or event

• Using decision-making model to fix a problem

in the community

3.5 In addition to score 3.0 performance, in-depth inferences and applications with partial success.

Score 3.0

The student will be able to:

• The student will be able to use a decision-making model to

determine the best choice available.

• Complete decision-making model • Online activities

2.5 No major errors or omissions regarding 2.0 content and partial knowledge of the 3.0 content

Score 2.0

There are no major errors or omissions regarding the simpler details and processes as the student:

● recognizes or recalls specific terminology such as:

o Opportunity cost, scarcity, values, wants, needs ● performs basic processes, such as:

o Worksheet and vocabulary assignment However, the student exhibits major errors or omissions regarding the more complex ideas and processes.

• Worksheet and vocabulary assignment

1.5 Partial knowledge of the 2.0 content but major errors or omissions regarding the 3.0 content

Score 1.0

With help, a partial understanding of some of the simpler details and processes and some of the more complex ideas and processes.

Score 0.0

Even with help, no understanding or skill demonstrated.

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Strand 1: Financial Decision Making

Topic/Objective: The students will understand that choices must be made through a decision-making process.


Score 4.0


• Community issue or event

• Using decision-making model to fix a problem in the

community


Score 3.0


• The students will be able to create a goal using the SMART goal format.

• Create a SMART goal


Score 2.0



o Goal setting, opportunity cost, values, wants, needs. ● performs basic processes, such as:

o Vocabulary assignment However, the student exhibits major errors or omissions regarding the more complex ideas and processes.

• Vocabulary assignment


Score 1.0


Score 0.0


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● https://portal.missouriconnections.org/

● https://www.irs.gov/

● http://dor.mo.gov/




● https://www.stlouisfed.org/education/its-your-paycheck-curriculum-unit

● http://www.oercommons.org/courses/financial-literacy-q1/view ● http://www.oercommons.org/courses/financial-literacy-q2/view

BIG IDEA(S): ● Income is determined by work ethic, education, and market value of

labor paid as wages and salaries

ENDURING UNDERSTANDINGS: ● People can increase income and job opportunity by acquiring more

education and skills ● People receive compensation in various forms ● People have taxes and other deductions taken from their income

ESSENTIAL QUESTIONS: ● How does education and skill development affect earning potential? ● How does career choice impact career earning and quality of life? ● How do employer and government deductions (insurance, taxes, SS,

etc.) affect net income? ● How does an individual complete tax and employment forms?

WHAT SHOULD STUDENTS KNOW, UNDERSTAND, AND BE ABLE TO DO AT THE END OF THIS UNIT? Standards, Concepts, Content, Skills, Products, Vocabulary

REFERENCE/STANDARD i.e. GLE/CLE/MLS/ISTE

STANDARDS: Content specific standards that will be addressed in this unit. MAJOR STANDARD

SUPPORTING STANDARD

MLS II.1 A Career Choices and Consequences

Evaluate how career choices impact income and quality of life. X

MLS II.1 B Career Choices and Analyze the relationship between education, skill development, and earning X



UNIT TITLE: Earning Income (Strand 2)


https://nefe.org/



https://portal.missouriconnections.org/

https://www.irs.gov/

http://dor.mo.gov/



https://www.stlouisfed.org/education/its-your-paycheck-curriculum-unit

https://www.stlouisfed.org/education/its-your-paycheck-curriculum-unit



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Consequences potential.

MLS II.1 C Career Choices and Consequences

Describe how wages and salaries are determined in labor markets. X

MLS II.1 D Career Choices and Consequences

Analyze how changes in economic conditions and/or in labor markets can cause changes in a person’s income or employment status.

X

MLS II.1 E Career Choices and Consequences

Describe how entrepreneurs see problems as opportunities for creating new or innovative goods or services.

X

MLS II.2 A Forms of Compensation Examine how workers are paid through wages, salaries and commissions X MLS II.2 B Forms of Compensation Analyze why benefits such as health insurance, paid vacation, retirement plan, family

leave, tuition reimbursement and flexible spending are considered forms of compensation.

X

MLS II.2 C Forms of Compensation Identify sources for earning income in addition to wages and salaries such as rent, interest, gifts, dividends, profits and capital gains.

X

MLS II.3.A Taxes and Other Deductions

Compare gross and net income X

MLS II.3.B Taxes and Other Deductions

Explain the purpose of standard deductions such as income taxes, social security (FICA), Medicare, deductions for health care and retirement savings plans

X

MLS II.3.C Taxes and Other Deductions

Explain how taxes provide public goods and services. X

OBJECTIVE # 1 The students will understand that there are many career choices. REFERENCES/STANDARDS

● MLS II.1.A, B, C, D, E




ACADEMIC VOCABULARY


• Student will evaluate how career choice

impacts income and quality and life.

• Wages, salary, compensation, entrepreneur.

● The student will be able to research career

interest inventory and potential income

levels.



● Educational research ● Career research ● Career interest/skills survey

● Internet search ● Internet search ● Online survey

2 2 2

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INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Computers ● All careers earn income.


OR SUMMATIVE?


4=Extended Thinking) ● Presentation on education and career choice Summative 3/4



4=Extended Thinking) ● Academic Instruction Period ● Remediation and reteaching 2/3

HOW WILL WE RESPOND IF STUDENTS HAVE ALREADY LEARNED?

Possible Extensions/Enrichments INSTRUCTIONAL ACTIVITY/METHOD

STUDENT LEARNING TASK DOK TARGET


● Investigate post-high school training

● Research employment options and

internships

● Research scholarship and grant

opportunities

● Application and interview practice

4 4

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OBJECTIVE # 2 Students will understand compensation and deductions in regards to employment. REFERENCES/STANDARDS

● MLS II.2.A,B,C and MLS II.3.A, B, C




ACADEMIC VOCABULARY


● Student will understand different various

forms of compensation

● Student will understand how various

deductions affect net pay

● Wages, salaries, commission, retirement plan, benefits, dividends, profits, Social Security, Medicare, FICA, W-2, withholdings,

● The students will be able to calculate net pay.



● Pay stub

● W-2 and W-4

● Tax return

● worksheet ● Tax forms ● Online tax form

2 2 2

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Mathematics, computers ● Accountant, tax professional

HOW DO WE KNOW WHAT STUDENTS HAVE LEARNED? ASSESSMENT DESCRIPTION

FORMATIVE OR

SUMMATIVE? DOK TARGET


● Test Summative 2/3

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TEACHER INSTRUCTIONAL ACTIVITY STUDENT LEARNING TASK DOK TARGET (1=Recall, 2=Skill/Concept, 3=Strategic Thinking,

4=Extended Thinking) ● Academic Intervention Period ● Remediation and reteaching 2/3




4=Extended Thinking) ● Research deductions on different tax

brackets

● Compare and contrast different tax

returns.

4

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Strand 2: Earning Income

Topic/Objective: The students will understand that there are many career choices.


Score 4.0


• Investigate post-high school training

• Research scholarship and grant opportunities


Score 3.0


• The student will be able to research career interest inventory

and potential income levels.

• Presentation on education and career choice


Score 2.0



o Wages, salary, compensation, entrepreneur. ● performs basic processes, such as:

o Online research, Career interest/skills survey

However, the student exhibits major errors or omissions regarding the more complex ideas and processes.

• Educational research

• Career research

• Career interest/skills survey


Score 1.0


Score 0.0


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Strand 2: Earning Income

Topic/Objective: Students will understand compensation and deductions in regards to employment.


Score 4.0


• Research deductions on different tax brackets

• Compare and contrast different tax returns.


Score 3.0


• The students will be able to calculate net pay.

• Paycheck activity to calculate deductions

impact on net pay


Score 2.0



o Wages, salaries, commission, retirement plan, benefits, dividends, profits, Social Security, Medicare, FICA, W-2, withholdings,

● performs basic processes, such as:

o Pay stub

o W-2 and W-4

o Tax return


• Sample tax form activities

• Vocabulary activity


Score 1.0


Score 0.0


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● https://www.practicalmoneyskills.com

● https://www.moneyinstructor.com





● http://www.oercommons.org/courses/financial-literacy-

q1/view


q2/view

BIG IDEA(S): ● Creating a budget to buy goods and services can improve economic well-

being.

ENDURING UNDERSTANDINGS: ● People can create a budget to differentiate between income and

expenses ● People should create a budget that includes housing and

transportation, being prepared for emergencies, and savings. ● People can identify alternative payment methods ● People can use various institutions for financial needs

ESSENTIAL QUESTIONS: ● What steps are needed to create a balanced budget? ● What form of payment is best for certain purchases? ● What banking methods are best for high value purchases?



STANDARDS: Content specific standards that will be addressed in this unit.

MAJOR STANDARD

SUPPORTING STANDARD

MLS III.1.A Creating a Budget Differentiate between income and expenses. X MLS III.1.B Creating a Budget Analyze spending habits to recognize current spending and saving trends. X

MLS III.1.C Creating a Budget Create a budget that includes savings goals, emergency funds, fixed expenses, X

UNIT TITLE: Buying Goods and Services




https://nefe.org/


https://www.practicalmoneyskills.com/

https://www.moneyinstructor.com/








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and variable expenses MLS III.1.D Creating a Budget Explain how budgeting for charitable giving may have tax benefits X MLS III.1.E Creating a Budget Prioritize expenses and payment due dates. X

MLS III.2.A Purchasing Items of High Value Conduct research on product options to plan future purchases such as phone, car, home or vacation

X

MLS III.2.B Purchasing Items of High Value Evaluate product information for price, quality, service and features. X MLS III.2.C Purchasing Items of High Value Describe effective responses to deceptive or fraudulent sales practices. X MLS III.2.D Purchasing Items of High Value Identify payment methods. X MLS III.2E Purchasing Items of High Value Analyze the costs and benefits of different payment options. X MLS III.3.A Considering Alternative Goods

and Services Evaluate substitutes when the price of goods or services exceeds your budget. X

MLS III.3.B Considering Alternative Goods and Services

Compare the features, durability and maintenance costs of goods. X

MLS III.4.A Selecting Financial Institutions Compare the services, service fees and requirements of various financial institutions such as banks, savings and loans, credit unions and virtual banks.

X

MLS III.4.B Selecting Financial Institutions Calculate an account balance by recording deposits, withdrawals and debit transactions

X

MLS III.4.C Selecting Financial Institutions Analyze the costs and benefits of using or not using financial institutions and virtual exchanges.

X

MLS III.4.D Selecting Financial Institutions Explain the importance of FDIC, NCUA and other security regulations to protect one’s wealth in financial institutions.

X

OBJECTIVE # 1 Students will create a personal budget. REFERENCES/STANDARDS

• MLS III.I.A, B, C, D, E




ACADEMIC VOCABULARY


• Students will understand how to create a

budget that includes savings goals,

emergency funds, fixed expenses, and

variable expenses.

• Fixed expenses, periodic expenses, variable expenses, savings goals.

• The student will be able to create a balanced

budget.

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• Create a budget • Use a spreadsheet to create monthly budget

3


• Computers, mathematics • Financial Planner


OR SUMMATIVE?



• Budget assignment

• Unit test

Formative Summative

3 3/4




• Academic Intervention Period • Remediation and reteaching 2/3





• Long term budget • Spreadsheet 4

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OBJECTIVE # 2 Students will understand that purchasing Items of high value requires research and consideration of alternative goods and services.

REFERENCES/STANDARDS

• MLS III.2.A, B, C, D, & E

• MLS III.3.A & B




ACADEMIC VOCABULARY


• Students will understand how to be

informed consumers when making high

value purchases (home, car, etc.)

• Students will understand that alternative

goods and services may need to be

considered.

• Price, quality, service, features, durability, maintenance, deception, fraud

• The student will be able to make informed decisions on how to finance large expense purchases.



• Different payment options for a big-ticket

item

• Create a chart with different monthly payments, total cost, etc. of a purchase

3


• Mathematics • Banking specialist


FORMATIVE

OR SUMMATIVE?



• Payment options chart

• Unit test

Formative Summative

3 3/4

25









• Compare and contrast financial payment

options for different interest rates

• Create a graph showing different

interest rate payments

4

OBJECTIVE # 3 Students will understand the difference between a variety of financial institutions. REFERENCES/STANDARDS

• MLS III.4.A, B, C, D




ACADEMIC VOCABULARY


• Students will understand services, fees, and requirements of various financial institutions

• Banks, savings and loans, credit unions, deposit, withdrawal, debit, transaction, ACH, FDIC, NCUA.

• The student will be able to complete a deposit ticket, withdrawal slip, check register, and reconciliation.



• Sample bank deposits and withdrawals • Check simulation

• Worksheet or online bank transactions 2/3

26


• Mathematics and computers

• Banking specialist


OR SUMMATIVE?



• Sample bank transactions • Unit Test

Formative Summative

2/3 3/4








• Differentiate between credits and debits • Filling out a banking ledger 4

27


Strand 3: Buying Goods and Services

Topic/Objective: Students will create a personal budget.


Score 4.0


• Long term budget

• Create both a short and long-term budget


Score 3.0


• The student will be able to create a balanced budget.

• Use a spreadsheet to create monthly budget • Online activity


Score 2.0


• recognizes or recalls specific terminology such as:

o Fixed expenses, periodic expenses, variable expenses, savings goals.

• performs basic processes, such as:

o Vocabulary activity However, the student exhibits major errors or omissions regarding the more complex ideas and processes.



Score 1.0


Score 0.0


28


Topic/Objective: Students will understand that purchasing Items of high value requires research and consideration of alternative goods and services. Course/Grade Level: Personal Finance - High School Sample Tasks

Score 4.0


• Compare and contrast financial payment options for different

interest rates

• Create a graph showing different interest rate

payments


Score 3.0


• The student will be able to make informed decisions on how to finance large expense purchases.

• Create a chart with different monthly payments, total cost, etc. of a purchase


Score 2.0



o Price, quality, service, features, durability, maintenance, deception, fraud

• performs basic processes, such as:

o Vocabulary activity However, the student exhibits major errors or omissions regarding the more complex ideas and processes.



Score 1.0


Score 0.0


29


Topic/Objective: Students will understand the difference between a variety of financial institutions.


Score 4.0


• Differentiate between credits and debits

• Filling out a banking ledger


Score 3.0


• The student will be able to complete a deposit ticket, withdrawal slip, check register, and reconciliation.

• Worksheet on online bank transactions


Score 2.0



o Banks, savings and loans, credit unions, deposit, withdrawal, debit, transaction, ACH, FDIC, NCUA.

• performs basic processes, such as: o Vocabulary activity




Score 1.0


Score 0.0


30






● https://www.ngpf.org/



● https://www.mint.com/


q1/view


q2/view

BIG IDEA(S): ● Savings is the part of income that people choose to set aside for future

uses.

ENDURING UNDERSTANDINGS: ● People’s savings are affected by time, interest rates, and inflation.

ESSENTIAL QUESTIONS: ● How can different choice affect people’s savings and amount saved? ● What is the importance of a “rainy day” or emergency fund? ● How do simple and compound interest rates affect the growth of

savings? ● How do the “Rule of 72” and the concept of time value of money affect

future value? WHAT SHOULD STUDENTS KNOW, UNDERSTAND, AND BE ABLE TO DO AT THE END OF THIS UNIT?

Standards, Concepts, Content, Skills, Products, Vocabulary REFERENCE/STANDARD

i.e. GLE/CLE/MLS/ISTE STANDARDS: Content specific standards that will be addressed in this unit. MAJOR

STANDARD

SUPPORTING

STANDARD

MLS IV.1A Reasons for Savings Identify short, medium and long-term savings goals including saving for high purchases, postsecondary education/training and retirement.

X

MLS IV.1B Reasons for Savings Develop a savings plan. X

MLS IV.1C Reasons for Savings Explain the importance of a rainy day fund for unexpected expenses. X MLS IV.1D Reasons for Savings Compare retirement savings options. X



UNIT TITLE: Saving



https://nefe.org/

https://www.ngpf.org/



https://www.mint.com/





31

MLS IV.2A Interest on Savings Compare simple and compound interest. X MLS IV.2B Interest on Savings Use the rule of 72 to calculate how long it takes money to double. X

MLS IV.2BC Interest on Savings Explain how the time value of money, i.e. money in hand today, is worth more than money promised in the future, influences financial decision-making.

X

MLS IV.3.A Saving Instruments Identify saving instruments such as certificates of deposit and savings accounts. X MLS IV.3.B Saving Instruments Compare the liquidity, interest payment or penalty of various savings instruments. X

OBJECTIVE # 1 Students will understand there are many reasons for saving money. REFERENCES/STANDARDS

● MLS IV.1.A, B, C, D.




ACADEMIC VOCABULARY


• The student will understand how to

develop a savings plan.

• Interest, CD, 401K, Rule of 72, compound interest, simple interest, time value of money, inflation, CPI, retirement savings.

● The student will be able to calculate simple and compound interest

● The student will be able to compare various retirement savings options.



● ID short term, medium, and long-term

goals.

● Online savings tools ● worksheets

2 2

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Mathematics and computers • Personal bankers and financial

planners HOW DO WE KNOW WHAT STUDENTS HAVE LEARNED?

ASSESSMENT DESCRIPTION FORMATIVE OR

SUMMATIVE?


4=Extended Thinking) ● Savings goals assignment

● Unit test

Formative Summative

2 3/4

32



4=Extended Thinking) ● Academic Intervention Period ● Remediation and reteaching 2/3




4=Extended Thinking) ● Calculations of long terms savings goals ● Charting long term savings 4

OBJECTIVE # 2 Students will understand how interest is calculated on savings.

REFERENCES/STANDARDS

● MLS IV.2.A, B, C




ACADEMIC VOCABULARY


• The student will compare simple and

compound interest.

• The student will use the “Rule of 72” to

calculate how long it takes for money to

double.

• The student will explain the concept of

time value of money.

● Interest, CD, 401K, Rule of 72, compound interest, simple interest, time value of money, inflation, CPI.

● The student will be able to calculate simple

and compound interest.

● The student will be able to demonstrate

how to calculate the “Rule of 72.”

● The student will be able to explain the

concept of time value of money.



● Calculate “Rule of 72” and future value. ● Online tools to calculate “Rule of 72” 2

33

● Calculate simple/compound interest. ● Online tools to calculate simple/compound interest

2

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Mathematics and computers • Personal banking


FORMATIVE

OR SUMMATIVE?


4=Extended Thinking) ● Worksheet to calculate interest

● Unit test

Formative Summative

2 3



4=Extended Thinking) ● Academic Intervention Period • Remediation and reteaching 2/3




4=Extended Thinking) ● Research different savings possibilities ● Create a brochure to encourage early

savings

4

OBJECTIVE # 3 Students will understand the different saving instruments. REFERENCES/STANDARDS

● MLS IV.3.A, B




ACADEMIC VOCABULARY


• The student will be able to identify different savings instruments

• Interest, CD, 401K, Rule of 72, compound interest, simple interest, time value of money, inflation, CPI.

● The student will be able to decide which savings options meet their short and long term saving goals

34

● The student will be able to compare the liquidity, interest payment, or penalty of various savings instruments.



● Differentiate between savings accounts and CDs.

● Create a T-chart showing different outcomes of two investments

2

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Mathematics

• Personal Banker and Banking Associates


OR SUMMATIVE?


4=Extended Thinking) ● Worksheet on CDs and Savings Accounts ● Article summary ● Unit test

Formative Formative Summative

2 2 3



4=Extended Thinking) ● Academic Intervention Period • Remediation and reteaching 2/3




● Compare interest rates between various local banks or credit unions.

● Create a spreadsheet that compares two local financial institutions

4

35


Strand 4: Saving

Topic/Objective: Students will understand there are many reasons for saving money. Course/Grade Level: Personal Finance - High School Sample Tasks

Score 4.0


• Calculations of long terms savings goals

• Charting long term savings


Score 3.0

The student will be able to: • The student will be able to calculate simple and compound

interest

• The student will be able to compare various retirement savings

options.

• Analysis activity of differing investment options


Score 2.0

There are no major errors or omissions regarding the simpler details and processes as the student: ● recognizes or recalls specific terminology such as:

o Interest, CD, 401K, Rule of 72, compound interest, simple interest, time value of money, inflation, CPI, retirement savings.

● performs basic processes, such as: o ID short term, medium, and long-term goals.


• Online savings tools • Worksheets • Vocabulary activity


Score 1.0


Score 0.0


36

Strand 4: Saving

Topic/Objective: Students will understand how interest is calculated on savings.


Score 4.0


• Research different savings possibilities

• Create a brochure to encourage early savings


Score 3.0


• calculate simple and compound interest.

• demonstrate how to calculate the “Rule of 72.”

• explain the concept of time value of money.

• Compare and contrast amounts of interest

generated over various rates and time periods


Score 2.0



o Interest, CD, 401K, Rule of 72, compound interest, simple interest, time value of money, inflation, CPI.

● performs basic processes, such as:

o Online tools to calculate “Rule of 72” o Online tools to calculate simple/compound interest



• Online tools activities


Score 1.0


Score 0.0


37

Strand 4: Saving

Topic/Objective: Students will understand the different saving instruments.


Score 4.0


• Compare interest rates between various local banks or credit unions.

• Create a spreadsheet that compares two local financial institutions


Score 3.0


• decide which savings options meet their short and long term saving goals

• compare the liquidity, interest payment, or penalty of various savings instruments.

• Compare and contrast long term results of various

savings options


Score 2.0



o Interest, CD, 401K, Rule of 72, compound interest, simple interest, time value of money, inflation, CPI.

● performs basic processes, such as: o Create a T-chart showing different outcomes of two

investments However, the student exhibits major errors or omissions regarding the more complex ideas and processes.


• T-chart activity


Score 1.0


Score 0.0


38








● https://www.incharge.org/financial-literacy/

● https://bettermoneyhabits.bankofamerica.com/en/credit/how-

credit-score-is-calculated


● https://www.ngpf.org/



BIG IDEA(S): ● Credit allows people to purchase goods and services they can use

today and pay for those in the future.

ENDURING UNDERSTANDINGS: ● People choose among different credit options that have different

costs. ● Credit choices will impact the value of your financial future.

ESSENTIAL QUESTIONS: ● What is the difference between a credit and debit account? ● What are the different sources of consumer credit between: credit

cards, consumer loans, rent to own, title and payday loans, and higher education?

● What are the various terms and conditions of credit cards and consumer loans?

● How to calculate the total purchase price of a good or service including interest paid?

● How to compare the cost of credit between financial institutions? ● What are factors that will affect your credit worthiness?



UNIT TITLE: Using Credit



https://nefe.org/



https://www.incharge.org/financial-literacy/

https://bettermoneyhabits.bankofamerica.com/en/credit/how-credit-score-is-calculated

https://bettermoneyhabits.bankofamerica.com/en/credit/how-credit-score-is-calculated


https://www.ngpf.org/



39




SUPPORTING STANDARD

MLS V.1.A Facets of Credit Analyze the difference between a credit and a debit account. X MLS V.1.B Facets of Credit Compare sources of consumer credit such as credit cards, consumer loans, rent-to-own, title and

payday loans. X

MLS V.1.C Facets of Credit Evaluate the options for financial higher education. X MLS V.1.D Facets of Credit Analyze various terms and conditions of credit cards and consumer loans. X MLS V.1.E Facets of Credit Explain the purpose, functions and costs of a mortgage. X

MLS V.2.A Interest on Credit

Compare the cost of credit between financial institutions based on the Annual Percentage Rate (APR), initial fees charged and fees for late or missed payment.

X

MLS V.2.B Interest on Credit

Calculate the total purchase price of a good or service including interest paid. X

MLS V.2.C Interest on Credit

Explain the relationship between risk and interest including credit worthiness and down payment.

X

MLS V.2.D Interest on Credit

Differentiate between secured and unsecured loans. X

MLS V.3.A Creditworthiness

Evaluate factors that affect creditworthiness including paying on time and payment history. X

MLS V.3.B Creditworthiness

Explain the purpose and components of credit records and credit history as provided by credit bureaus.

X

MLS V.3.C Creditworthiness

Identify ways to avoid and/or correct credit problems. X

MLS V.3.D Creditworthiness

Analyze why credit scores may be used by entities such as employers, landlords and insurance companies.

X

MLS V.3.E Creditworthiness

Evaluate a credit report to verify accuracy. X

MLS V.3.F Creditworthiness

Explain the importance of annually verifying one’s credit report. X

MLS V.3.G Creditworthiness

Explain the value of consumer credit protection laws. X

MLS V.3.H Creditworthiness

Explain responsibilities associated with the use of credit. X

40

OBJECTIVE # 1 Students will understand facets of credit. REFERENCES/STANDARDS

● MLS V.1.A, B, C, D, E




ACADEMIC VOCABULARY



compare various sources of consumer

credit

• Credit, debit, consumer loans, rent-to-own, title, payday loans

● Compare and contrast sources of credit

● Analyze terms and conditions of loans and

other credit options



● Calculate payments and total of interest

paid

● Online tools ● Financial calculators ● worksheets

3 2 2/3

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Math and Computers • Bankers and credit counselor


OR SUMMATIVE?


4=Extended Thinking) ● Credit calculation chart

● Unit test

Formative Summative

3 3/4



4=Extended Thinking) ● Academic Intervention Period ● Remediation and reteaching 2

41




4=Extended Thinking) ● Create a project demonstrating the effects

of not meeting the terms of a credit

purchase

● Table showing differing final costs 4

OBJECTIVE # 2 Students will understand interest on credit. REFERENCES/STANDARDS

● MLS V.2.A, B, C, D




ACADEMIC VOCABULARY



compare the cost of credit between

financial institutions

• The student will be able to calculate the

total purchase price

● APR, credit worthiness, credit history, credit bureaus, credit report, secured loans, unsecured loans.

● Be able to use online calculators to compute costs of interest and total costs.



● Calculate payments and total of interest

paid

● Online tools ● Financial calculators ● worksheets

3 2 2/3

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Mathematics and computers • Bankers, mortgage loan experts, credit

counselors

42


FORMATIVE

OR SUMMATIVE?


4=Extended Thinking) ● Interest calculation assignment

● Unit test

Formative summative

2 3-4



4=Extended Thinking) ● Academic Intervention Period • Remediation and reteaching 2




4=Extended Thinking) ● Create a project demonstrating the effects


purchase


OBJECTIVE # 3 Students will understand credit worthiness REFERENCES/STANDARDS

● MLS V.3.A, B, C, D, E, F, G, H




ACADEMIC VOCABULARY


• The students will understand the factors that affect creditworthiness.

• The students will understand the

• credit worthiness, credit history, credit bureaus, credit report, credit score.

● Be able to identify key elements of a credit report

● Be able to verify and correct information on

43

importance of credit reports and credit scores.

a credit report



● Navigate the website of the 3 main credit agencies

● Websites ● Handout ● Worksheet

2 2 2/3

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Mathematics and computers

• Credit counselor


OR SUMMATIVE?


4=Extended Thinking) ● Activity on the “C’s” of credit worthiness ● Unit Test

Formative Summative

3 3-4







● Create a project demonstrating the effects


purchase


44


Strand 5: Using Credit

Topic/Objective: Students will understand facets of credit.


Score 4.0


• Interview various people in the community and/or family to get real-life data about their experience with credit.

• Create a project demonstrating the effects of

not meeting the terms of a credit purchase.

• Create a pamphlet or video outlining the

factors that affect credit worthiness and/or

responsible use of credit. Student projects

will be based on a specific set of criteria.


Score 3.0


• will be able to compare various sources of consumer credit

• Simulation activity where students will compare and contrast sources of credit for specific purchases

• Research local St Charles credit options and present data to class.


Score 2.0


o Credit, debit, consumer loans, rent-to-own, title loans, payday loans

● performs basic processes, such as: o Use online search sites to gather data for assignments. o Use online calculators to compute interest, monthly payments, and

total cost of credit to compare credit options.


• Use various online financial calculators to

calculate monthly payments, interest, and total cost.

• Vocabulary activity • Worksheets


Score 1.0


Score 0.0


45

Strand 5: Using Credit:

Topic/Objective: Students will understand interest on credit.


Score 4.0


• Research current credit trends - credit cards (consumer debt), housing, college debt.

• Create a presentation using data

○ Use research data to create tables

or pictographs

○ Use research to show borrowing

trends


Score 3.0

The student will be able to: • Understand how to compare the cost of credit between financial

institutions • Calculate the total purchase price

• Simulation activity • Purchase project


Score 2.0


o APR, credit worthiness, credit history, credit bureaus, credit report, secured loans, unsecured loans

● performs basic processes, such as: o Use online search sites to gather data for assignments. o Use online calculators to compute interest, monthly payments, and

total cost of credit to compare credit options.


• Use various online financial calculators to calculate monthly payments, interest, and total cost.



Score 1.0


Score 0.0


46

Strand 5: Using Credit

Topic/Objective: Students will understand credit worthiness


Score 4.0

In addition to Score 3.0, in-depth inferences and applications that go beyond what was taught. Develop a credit plan for future financial success.

• Students will create a pamphlet or video outlining the factors that affect credit worthiness and/or responsible use of credit.

3.5 In addition to score 3.0 performance, in-depth inferences and applications with

partial success.

Score 3.0

The student will be able to: The student:

● will be able to explain a borrower’s legal rights and responsibilities

when agreeing to a contract

● will be able to recite guideline for borrowing limits

● will be able to state where to get help with credit issues

● will be able to explain the 5 C’s of creditworthiness

● Complete loan or credit application.

● Construct a letter or email to credit

reporting agencies to correct inaccurate

information on credit report.

● 20/10 Rule for Safe Borrowing worksheet

● Online activities


Score 2.0


o Credit worthiness, credit history, credit bureau (credit reporting agency), credit report, credit score

● performs basic processes, such as: o Use Internet to access various credit bureau websites o Use calculator to compute safe debt amounts


• Use various online financial calculators to calculate monthly payments, interest, and total cost.



Score 1.0


Score 0.0


47







● http://playinsure.com/TDI%20PlayInsure%20Curriculum%20-

%204-2014.pdf



● http://www.scholastic.com/nextgeneration/pdf/health-ed-

guide.pdf

● https://www.uen.org/lessonplan/download/36296?lessonId=289

69&segmentTypeId=2

BIG IDEA(S): ● People make choices to protect themselves from the financial risk

such as lost income, assets, health or identity.

ENDURING UNDERSTANDINGS: ● People can choose to accept risk, reduce risk, or share the risk with

others. ● Insurance allows people to transfer risk by paying a fee now to

avoid the possibility of a larger loss later. ● The price of insurance is influenced by an individual’s

circumstances and behavior.

ESSENTIAL QUESTIONS: ● What is the importance of protecting yourself from financial risks? ● What are the factors used to determine insurance policies and

premiums? ● How can individuals protect themselves from identity theft?




SUPPORTING STANDARD

MLS VI.1.A Protecting Against Financial Risk by Insuring

Analyze the personal financial risks that can occur when unexpected events damage health, home, property, wealth or future opportunities.

X

MLS VI.1.B Protecting Against Financial Risk by Insuring

Explain how and why insurance companies create policies and determine premiums. X



UNIT TITLE: Protecting and Insuring



https://nefe.org/


http://playinsure.com/TDI%20PlayInsure%20Curriculum%20-%204-2014.pdf

http://playinsure.com/TDI%20PlayInsure%20Curriculum%20-%204-2014.pdf



http://www.scholastic.com/nextgeneration/pdf/health-ed-guide.pdf

http://www.scholastic.com/nextgeneration/pdf/health-ed-guide.pdf

https://www.uen.org/lessonplan/download/36296?lessonId=28969&segmentTypeId=2

https://www.uen.org/lessonplan/download/36296?lessonId=28969&segmentTypeId=2

48

MLS VI.1.C Protecting Against Financial Risk by Insuring

Analyze factors people use to choose insurance coverage. X

MLS VI.1.D Protecting Against Financial Risk by Insuring

Explain how personal behavior and risk impact insurance premiums. X

MLS VI.1.E Protecting Against Financial Risk by Insuring

Analyze health insurance options to provide funds in the event of illness and /or to pay for the cost of preventative care.

X

MLS VI.2.A Protecting Personal Identity

Analyze federal and state regulations which provide some remedies and assistance for identity theft.

X

MLS VI.2.B Protecting Personal Identity

Analyze how individuals can protect themselves from others misusing personal information and from identity theft while online.

X

MLS VI.2.B Protecting Personal Identity

Discuss current ways to counter cyber-attacks and protect personal information. X

OBJECTIVE # 1 Students will learn how to protect against financial risk by insuring. REFERENCES/STANDARDS

● MLS VI.1.A, B, C, D, E.




ACADEMIC VOCABULARY



protect financial assets and well-being

through insurance

• Risk, car insurance, home insurance, renters insurance, life insurance, health insurance, deductible, coverage, policies, disability, premium.

● Be able to analyze personal financial risk

that can occur due to unexpected events

● Be able to explain how and why insurance

companies create policies and determine

premiums



● Compare and contrast various insurance

options

● Research online ● worksheets

2-3 2

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Mathematics and computers • Insurance agents and financial

planners

49


OR SUMMATIVE?


4=Extended Thinking) ● Online activities

● Unit test

Formative Summative

2/3 3/4







4=Extended Thinking) ● Create a project that estimates real life

insurance costs for their future

● Table with calculations of various

payouts vs. various times of

investment

4

OBJECTIVE # 2 The student will understand the importance of protecting personal identity REFERENCES/STANDARDS

● MLS VI.2.A, B, C




ACADEMIC VOCABULARY



protect themselves from identity theft

● Identity theft, cyber-attacks, phishing, fraud, and fraud protection, breach

● Be able to utilize credit information sites. ● Be able to research steps to rectify when

personal information is compromised.

50

• The student will understand what laws

and regulations exist to protect their

identity and how to remedy false

information



● Utilize government websites to recover

theft and/or breached information

● FTC.gov website ● Identitytheft.gov

2-3 2-3

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Computers • Credit counselor, insurance agent, cyber

security HOW DO WE KNOW WHAT STUDENTS HAVE LEARNED?

ASSESSMENT DESCRIPTION

FORMATIVE OR

SUMMATIVE?


4=Extended Thinking) ● Checklist of steps to take when credit or identity are compromised

● Unit test

Formative Summative

2-3 3-4







4=Extended Thinking) ● Successful completion of district

assessment on cyber security

● Assessment on cyber security

knowledge

4

51


Strand 6: Protecting and Insuring

Topic/Objective: Students will learn how to protect against financial risk by insuring.


Score 4.0


• Apply insurance principles to a “real-life” family situation.

• Create a presentation which

encompasses good, financial

insurance principles as described

within this unit of study.


Score 3.0

The student will be able to: • Describe how insurance works and why it is necessary. • Explain liability insurance. • Compare/contrast co-pay and co-insurance. • Differentiate between actual cash value and replacement costs. • Describe the factors that influence car insurance costs/premiums.

• Explain different types of auto insurance coverage.

• Simulation depicting different

“loss” situations and how to

file an insurance claim.

2.5 No major errors or omissions regarding 2.0 content and partial knowledge of the 3.0 content Score 2.0


o premium, deductible, co-pay, co-insurance, disability insurance, unemployment insurance, life insurance, homeowners’ insurance, renters insurance, liability, collision, comprehensive

● performs basic processes, such as: o Identify specific parts and/or information contained in an insurance policy o Calculate copayment amounts


• Vocabulary worksheet

• Insurance activity: Explore an

insurance policy to locate

pertinent information

1.5 Partial knowledge of the 2.0 content but major errors or omissions regarding the 3.0 content Score 1.0


Score 0.0


52

Strand 6: Protecting and Insuring

Topic/Objective: The student will understand the importance of protecting personal identity.


Score 4.0


• Students will create a pamphlet or video outlining the factors that affect personal identity security.

• Student projects will be based on a specific set of criteria. Projects will be presented to classmates.


Score 3.0

The student will be able to: • Recognize the potential damage caused by ID theft and account fraud and how

fraud happens.

• Demonstrate safe practices to protect against ID theft and fraud to protect

personal data and avoid becoming victims.

• Identify resources available to help consumers and victims.

• Utilize online tools to report fraud and/or identity theft.

• Online activities -

www.ftc.gov/idtheft,

(https://identitytheft.gov and/or

others

• Worksheets


Score 2.0


● recognizes or recalls specific terminology such as: o Federal Trade Commission (FTC), Consumer Protection Agency,

breach, phishing, spear phishing, spoofing, vishing, encryption, decryption, hacking, hashing, keylogger, worm

● performs basic processes, such as: o Complete worksheets



• Online activity


Score 1.0


Score 0.0


http://www.ftc.gov/idtheft

https://identitytheft.gov/

53









● https://www.practicalmoneyskills.com/teach/lesson_plans

● https://www.incharge.org/financial-literacy/resources-for-

teachers/high-school/

BIG IDEA(S): ● Financial investment is the purchase of financial assets to increase

income or wealth in the future.

ENDURING UNDERSTANDINGS: ● Investors choose among investments that have different risks and

expected rates of return. ● Investments with higher expected rates of return tend to have

greater risk. ● Diversification of investment among a number of choices can

lower investment risk.

ESSENTIAL QUESTIONS: ● How are “risk and reward” used to determine preferred investment

type? ● How is the price in financial asset determined? ● What is the relationship between risk and reward? ● Why is it important to diversify investments?




SUPPORTING STANDARD

MLS VII.1.A Investment Instruments

Compare various financial assets for their risk and rewards such as stocks, bonds, mutual funds, real estate and commodities.

X

MLS VII.1.B Investment Instruments

Explain the impact of capital gains, dividends, risk and stock value on corporate stock ownership.

X

MLS VII.1.C Investment Instruments

Explain how the price of a financial asset is determined by the interaction of buyers and sellers in a financial market.

X



UNIT TITLE: Financial Investing



https://nefe.org/




https://www.practicalmoneyskills.com/teach/lesson_plans

https://www.incharge.org/financial-literacy/resources-for-teachers/high-school/

https://www.incharge.org/financial-literacy/resources-for-teachers/high-school/

54

MLS VII.2.A The Relationship between Risk and Reward

Explain how the rate of return earned from investments will vary according to the amount of risk.

X

MLS VII.2.B The Relationship between Risk and Reward

Explain how the rates of return on financial assets are influenced by buyers and sellers in financial markets.

X

MLS VII.2.C The Relationship between Risk and Reward

Explain why an investment with greater risk, such as a penny stock, will commonly have a lower market price, but an uncertain rate of return.

X

MLS VII.2.D The Relationship between Risk and Reward

Explain the risks and rewards of short-term and long-term investments. X

MLS VII.2.E The Relationship between Risk and Reward

Describe how diversification can lower investment risk. X

OBJECTIVE # 1 Students will understand pros and cons of various investment instruments. REFERENCES/STANDARDS

● MLS VII.1.A, B, C




ACADEMIC VOCABULARY


• The student will understand the various

investment options available.

• Investments, stocks, bonds, mutual funds, real estate, commodities, dividends, NASDAQ, NYSE, trade (buy/sell), diversification, 401K, ROTH investment.

● Be able to compare and contrast various

financial assets to increase wealth.

● Be able to evaluate the progress of an

investment.



● Stock market activity

● Yahoo/Google finance activity

● Online activity ● Online activity

2/3 2/3

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Mathematics, social studies, and

computers

• Stockbroker and financial planner

55


OR SUMMATIVE?


4=Extended Thinking) ● Investment research assignment

● Unit Test

Formative Summative

2/3 3/4







4=Extended Thinking) ● Create a portfolio on why to invest in a

particular publicly traded company

● Portfolio or Google Slides presentation 4

OBJECTIVE # 2 Students will understand the relationship between risk and reward REFERENCES/STANDARDS

● MLS.VII.A, B, C, D, E




ACADEMIC VOCABULARY


• The student will explain the risks and

rewards of short and long-term

investments

● Investments, stocks, bonds, mutual funds, real estate, commodities, dividends, NASDAQ, NYSE, trade (buy/sell), diversification, 401K, ROTH investment, penny stocks.

● Be able to describe how the rates of return on financial assets are influenced by buyers, sellers, and financial markets

56



● Stock market activity

● Yahoo/Google finance activity

● Online activity ● Online activity

2/3 2/3

INTERDISCIPLINARY CONNECTION CAREER CONNECTION ● Mathematics, social studies, and

computers

• Stockbroker and financial planner


FORMATIVE

OR SUMMATIVE?


4=Extended Thinking) ● Investment research assignment

● Unit Test

Formative Summative

2/3 3/4







4=Extended Thinking) ● Create a portfolio on why to invest in a

particular publicly traded company

● Portfolio or Google Slides presentation 4

57

Strand 7: Financial Investing

Topic/Objective: Students will understand pros and cons of various investment instruments.


Score 4.0


• The student will create an investment portfolio that demonstrates how student will complete/meet a future financial goal.

• A presentation that includes comprehensive data for a student created investment portfolio.


Score 3.0

The student will be able to: • Demonstrate how risk affects return. • Compare liquidity, manageability, and tax aspects of investment alternatives

(traditional vs Roth). • Explain how to buy and sell investments.

• Perform calculations pertaining to rate of return on investment (e.g., Rule of 72, compound interest, future value and dollar cost averaging).

• Online activities and simulations • Worksheets - Rule of 72, Compound

Interest, Future Value and Dollar Cost Averaging

• Research analysis of various financial instruments using the Internet


Score 2.0


o Risk, return, liquidity, Rule of 72, compound interest, certificate of deposit, bonds, stocks, share, mutual funds, collectibles, individual retirement arrangement, 401k, tax liability, pre-tax, securities, financial markets, future value (FV), dollar cost averaging, diversification

● performs basic processes, such as: o Complete worksheets o Use Internet online calculator


• Vocabulary activities • Internet online calculators


Score 1.0


Score 0.0


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Strand 7: Financial Investing

Topic/Objective: Students will understand the relationship between risk and reward.


Score 4.0


• Forecast future financial scenarios.

• Create a presentation or video that shows various investment alternatives and how risk and reward affect each investment.


Score 3.0

The student will be able to: • Describe the risk-to-reward principle. • Discuss how risk tolerance impacts investment decisions. • Explain how diversification is used as an investment strategy. • Compare and contrast various investment options.

• Complete online activities - various sites available ○ www.econlowdown.org ○ http://education.howthemarketworks.com ○ https://www.nefe.org/

• Worksheets • Guest speaker(s)


Score 2.0



o Certificate of Deposit (CD), Mutual Funds, Individual Retirement Arrangements/Accounts (IRAs), 401ks, Traditional investment and Roth investment structure

● performs basic processes, such as: o Complete worksheets o Use Internet tools



• Online activity


Score 1.0


Score 0.0


http://www.econlowdown.org/

http://education.howthemarketworks.com/

59

Appendix

Personal Finance Course Level Expectations Grades 9-12

Missouri Department of Elementary and Secondary Education

Summer 2017

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Personal Finance – Financial Decision Making

I. Financial Decision Making: Choice is the central principle of financial decision making for individuals, businesses and government. People make many choices every day in markets where buyers and sellers interact. This interaction determines market prices and allocates scarce goods and services based on supply and demand. Every decision incurs an opportunity cost. Opportunity cost is the next-best alternative when a decision is made; it is what is given up.

Concept 1 Unlimited Wants and Limited Resources

A. Evaluate the role of choice in decision making.

B. Apply a rational decision-making process to satisfy wants.

Concept 2 Choice and Decision Making

A. Explain how today’s choices have future consequences.

B. Explain the causal relationship between choice and opportunity cost.

C. Analyze how choices can result in unintended consequences.

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Personal Finance – Income

II. Earning Income: For most people, income is determined by their work ethic, their education and the market value of their labor paid as wages and salaries. People can increase their income and job opportunities by performing well and choosing to acquire more education, skill building and work experience. The decision to undertake an activity that increases income or job opportunities is affected by the expected benefits and costs of such an activity. Income is also obtained from other sources such as interest, rents, capital gains, dividends and profits.

Concept 1 Career Choices and Consequences

A. Evaluate how career choices impact income and quality of life.

B. Analyze the relationship between education, skill development and earning potential.

C. Describe how wages and salaries are determined in labor markets.

D. Analyze how changes in economic conditions and/or in labor markets can cause changes in a person’s income or employment status.

E. Describe how entrepreneurs see problems as opportunities for creating new or innovative goods or services.

Concept 2 Forms of Compensation

A. Examine how workers are paid through wages, salaries and commissions.

B. Analyze why benefits such as health insurance, paid vacation, retirement plan, family leave, tuition reimbursement and flexible scheduling are considered forms of compensation.

C. Identify sources for earning income in addition to wages and salaries such as rent, interest, gifts, dividends, profits and capital gains.

Concept 3 Taxes and Other Deductions

A. Compare gross and net income.

B. Explain the purpose of standard deductions such as income taxes, social security (FICA), Medicare, deductions for health care and retirement savings plans.

C. Explain how taxes provide public goods and services.

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Personal Finance – Buying Goods and Services

III. Buying Goods and Services: People cannot buy or make all the goods and services they want; as a result, people choose to buy some goods and services and not buy others. People can improve their economic well-being by making informed spending decisions, which entails collecting information, planning and budgeting.

Concept 1 Creating a Budget

A. Differentiate between income and expenses.

B. Analyze spending habits to recognize current spending and saving trends.

C. Create a budget that includes savings goals, emergency funds, fixed expenses and variable expenses.

D. Explain how budgeting for charitable giving may have tax benefits.

E. Prioritize expenses and payment due dates.

Concept 2 Purchasing Items of High Value

A. Conduct research on product options to plan future purchases such as phone, car, home or vacation.

B. Evaluate product information for price, quality, service and features.

C. Describe effective responses to deceptive or fraudulent sales practices.

D. Identify payment methods.

E. Analyze the costs and benefits of different payment options.

Concept 3 Considering Alternative Goods and Services

A. Evaluate substitutes when the price of goods or services exceeds your budget.

B. Compare the features, durability and maintenance costs of goods.

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Concept 4 Selecting Financial Institutions

A. Compare the services, service fees and requirements of various financial institutions such as banks, savings and loans, credit unions and virtual banks.

B. Calculate an account balance by recording deposits, withdrawals and debit transactions.

C. Analyze the costs and benefits of using or not using financial institutions and virtual exchanges.

D. Explain the importance of FDIC, NCUA and other security regulations to protect one’s wealth in financial institutions.

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Personal Finance – Saving

IV. Saving: Saving is the part of income that people choose to set aside for future uses. People save for different reasons during the course of their lives. People make different choices about how they save and how much they save. Time, interest rates and inflation affect the value of savings.

Concept 1 Reasons for Saving

A. Identify short, medium and long-term savings goals including saving for high value purchases, postsecondary education/training and retirement.

B. Develop a savings plan.

C. Explain the importance of a rainy day fund for unexpected expenses.

D. Compare retirement savings options.

Concept 2 Interest on Savings

A. Compare simple and compound interest.

B. Use the Rule of 72 to calculate how long it takes money to double.

C. Explain how the time value of money, i.e. money in hand today, is worth more than money promised in the future, influences financial decision- making.

Concept 3 Saving Instruments

A. Identify saving instruments such as certificates of deposit and savings accounts.

B. Compare the liquidity, interest payment or penalty of various savings instruments.

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Personal Finance – Using Credit

V. Using Credit: Credit allows people to purchase goods and services they can use today and pay for those in the future. People choose among different credit options that have different costs. Lenders approve or deny applications for loans based on an evaluation of the borrower’s past credit history and expected ability to pay in the future. Higher-risk borrowers are charged higher interest rates; lower-risk borrowers are charged lower interest rates. The responsibility for debt belongs to the borrower.

Concept 1 Facets of Credit

A. Analyze the difference between a credit and a debit account

B. Compare sources of consumer credit such as credit cards, consumer loans, rent-to own, title and payday loans.

C. Evaluate the options for financing higher education.

D. Analyze various terms and conditions of credit cards and consumer loans.

E. Explain the purpose, functions and costs of a mortgage.

Concept 2 Interest on Credit

A. Compare the cost of credit between financial institutions based on the Annual Percentage Rate (APR), initial fees charged and fees for late or missed payment.

B. Calculate the total purchase price of a good or service including interest paid.

C. Explain the relationship between risk and interest including credit worthiness and down payment.

D. Differentiate between secured and unsecured loans.

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Concept 3 Credit Worthiness

A. Evaluate factors that affect creditworthiness including paying on time and payment history.

B. Explain the purpose and components of credit records and credit history as provided by credit bureaus.

C. Identify ways to avoid and/or correct credit problems.

D. Analyze why credit scores may be used by entities such as employers, landlords and insurance companies.

E. Evaluate a credit report to verify accuracy.

F. Explain the importance of annually verifying one’s credit report.

G. Explain the value of consumer credit protection laws.

H. Explain responsibilities associated with the use of credit.

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Personal Finance – Protecting and Insuring

VI. Protecting and Insuring: People make choices to protect themselves from the financial risk such as lost income, assets, health or identity. They can choose to accept risk, reduce risk or share the risk with others. Insurance allows people to transfer risk by paying a fee now to avoid the possibility of a larger loss later. The price of insurance is influenced by an individual’s circumstances and behavior.

Concept 1 Protecting Against Financial Risk by Insuring

A. Analyze the personal financial risks that can occur when unexpected events damage health, home, property, wealth or future opportunities.

B. Explain how and why insurance companies create policies and determine premiums.

C. Analyze factors people use to choose insurance coverage.

D. Explain how personal behavior and risk impact insurance premiums.

E. Analyze health insurance options to provide funds in the event of illness and/or to pay for the cost of preventive care.

Concept 2 Protecting Personal Identity

A. Analyze federal and state regulations which provide some remedies and assistance for identity theft.

B. Analyze how individuals can protect themselves from others misusing personal information and from identity theft while online.

C. Discuss current ways to counter cyber-attacks and protect personal information.

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Personal Finance – Financial Investing

VII. Financial Investing: Financial investment is the purchase of financial assets to increase income or wealth in the future. Investors choose among investments that have different risks and expected rates of return. Investments with higher expected rates of return tend to have greater risk. Diversification of investment among a number of choices can lower investment risk.

Concept 1 Investment Instruments

A. Compare various financial assets for their risk and rewards such as stocks, bonds, mutual funds, real estate and commodities.

B. Explain the impact of capital gains, dividends, risk and stock value on corporate stock ownership.

C. Explain how the price of a financial asset is determined by the interaction of buyers and sellers in a financial market.

Concept 2 The Relationship between Risk and Reward

A. Explain how the rate of return earned from investments will vary according to the amount of risk.

B. Explain how the rates of return on financial assets are influenced by buyers and sellers in financial markets.

C. Explain why an investment with greater risk, such as a penny stock, will commonly have a lower market price, but an uncertain rate of return.

D. Explain the risks and rewards of short term and long-term investments.

E. Describe how diversification can lower investment risk.

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