Personal Finance is a virtual class for Riverside Middle eighth graders. The online teacher is David Maholtz who teaches at Eastside High School. Coach Maholtz has been teaching for 21 years and is a Nationally Certified Teacher who holds 2 masters degrees in education. I facilitate this class with Coach Maholtz.

Personal Finance

David Maholtz

Email: dmaholtz@greenville.k12.sc.us

Class Phone Number: (864) 355-2870

Room Number: 135

Planning Periods: 5thand 7th

COURSE DESCRIPTION: This course is designed to introduce the student to basic financial literacy skills which includes budgeting, obtaining credit, maintaining checking accounts, analyzing the basic elements of finance, computing payroll, recording business transactions, and applying computer operations to financial management.

OBJECTIVE: Given the necessary equipment, supplies, and facilities, the student will be able to successfully complete the following core standards in a course that grants one unit of credit.

A. SAFETY AND ETHICS

1. Identify major causes of work-related accidents in offices.

2. Describe the threats to a computer network, methods of avoiding attacks, and options in dealing with virus attacks.

3. Identify potential abuse and unethical uses of computers and networks.

4. Explain the consequences of illegal, social, and unethical uses of information technologies (e.g., piracy; illegal downloading; licensing infringement; inappropriate uses of software, hardware, and mobile devices).

5. Differentiate between freeware, shareware, and public domain software copyrights.

6. Discuss computer crimes, terms of use, and legal issues such as copyright laws, fair use laws, and ethics pertaining to scanned and downloaded clip art images, photographs, documents, video, recorded sounds and music, trademarks, and other elements for use in Web publications.

7. Identify netiquette including the use of e-mail, social networking, blogs, texting, and chatting.

8. Describe ethical and legal practices in business professions such as safeguarding the confidentiality of business-related information.

B. EMPLOYABILITY SKILLS

1. Identify positive work practices (e.g., appropriate dress code for the workplace, personal grooming, punctuality, time management, organization).

2. Demonstrate positive interpersonal skills (e.g., communication, respect, teamwork).

C. STUDENT ORGANIZATIONS

1. Explain how related student organizations are integral parts of career and technology education courses.

2. Explain the goals and objectives of related student organizations.

3. List opportunities available to students through participation in related student organization conferences/competitions, community service, philanthropy, and other activities.

4. Explain how participation in career and technology education student organizations can promote lifelong responsibility for community service and professional development.

D. CAREERS AND INCOME

1. Explore career options.

2. Develop a career plan.

3. Discuss ethical issues as they relate to personal and business practices.

4. Identify sources of personal income.

E. PERSONAL FINANCIAL PLANNING

1. Explain the major purposes of budgets.

2. Develop a financial plan that includes short-term and long-term financial goals.

3. Identify various types of income and expenses.

4. Develop a personal budget.

5. Implement a system for organizing and maintaining financial records.

6. Explain the importance of saving for emergencies.

7. Describe how saving will build wealth and meet financial goals.

F. MANAGING CHECKING AND SAVINGS ACCOUNTS

1. Distinguish between different types of banking accounts.

2. Prepare documents used with banking accounts.

3. Maintain a check register including proper procedures for handling deposits, and withdrawals.

4. Reconcile a bank statement.

5. Give examples of savings options.

6. Discuss the need for and purpose of savings.

7. Compute simple and compound interest.

G. UNDERSTANDING CREDIT

1. Identify the costs and benefits of using credit.

2. Identify types and sources of credit.

3. Evaluate offers of credit.

4. Make recommendations on offers of credit based on the analysis.

5. Reconcile a credit card statement.

6. Complete a loan application.

7. Describe the concept of creditworthiness as it relates to credit records, credit ratings, credit reports, and credit laws.

8. Define bankruptcy laws, types of bankruptcy and their purposes, and the major causes of bankruptcy.

9. Describe the advantages and disadvantages of bankruptcy.

10.Discuss methods of solving credit problems.

11.Explain how major consumer credit laws protect the consumer.

H. PERSONAL TAXES

1. Complete W-4 and I-9 forms.

2. Compute gross earnings.

3. Evaluate fringe benefit packages.

4. List mandatory and voluntary deductions.

5. Identify employer-sponsored retirement plans.

6. Discuss county and local taxes including tax assessments.

7. Discuss implications of an inheritance.

I. PREPARING TAX RETURNS

1. Define exemptions, dependents, and taxable and non-taxable income.

2. Prepare a 1040EZ using a W-2 form.

3. Prepare a 1040A using a W-2 and a 1099-I (interest) form.

J. PURCHASING PERSONAL ASSETS

1. Calculate the cost of credit.

2. Identify the similarities/differences between leasing and buying.

3. Calculate cost of ownership.

4. Identify sources for determining fair market value.

5. Identify state and federal laws concerning financing.

K. CALCULATING REAL ESTATE COSTS

1. Compare and contrast the advantages and disadvantages of renting versus purchasing property.

2. List the cost of ownership and the cost of property rental.

3. Compare the terms and rates of mortgage agreements.

4. Interpret simple contracts.

L. INVESTING CONSIDERATIONS

1. Define investment terms.

2. Describe the concept of risk management and rate of return.

3. Track various stocks over a period of time.

4. Identify and evaluate investment alternatives.

5. Describe how to buy and sell various investments.

6. Compare and contrast taxable and tax free investments.

7. Describe funding the various life stages (e.g., college funding, home mortgages, retirement).

8. Describe the purpose and importance of estate planning (wills, trusts, gifting, and charitable contributions).

9. Explain how governmental agencies regulate investments to protect consumers.

10.Describe illegal and unethical investment practices.

M. UNDERSTANDING INSURANCE

1. Define the types of risks and risk management methods.

2. Identify the needs for insurance coverage.

3. Explain the various types of insurance coverage.

4. Explain major characteristics of the basic types of life, health, and disability insurance.

N. FINANCIAL RESPONSIBILITY AND DECISION MAKING

1. Make responsible financial decisions.

2. Locate and evaluate financial information.

3. Identify major consumer protection laws.

4. Identify means of securing personal financial information.

O. USING SOFTWARE

1. Identify various financial management software packages.

2. Prepare a budget using spreadsheet software.

Textbook: Personal Finance: A lifetime Responsibility (EMC Publishing)

Required Materials: Pen and Folder

Assessment and Grading Policy: 40% Daily Grades

60% Major Grades

SC Grading Scale:

A 100 - 90

B 80-89

C 70-79

D 60-69

Major Units of Study Outlined:

Approximate Timeline for Course

Semester 1: Standards A-F, H, L

Semester 2: Standards G, J,K,I, M-O

Makeup Work, Homework, Late Work, and other Classroom Policies as applicable:

1. All work MUST be handed in on the day that it is assigned.

2. If you are in the room you are responsible for both completing the work and handing it in to the proper location.

3. All assignments must have a typed name in a header located in the top right hand corner.

4. Work with no name will be thrown away. I cannot guess which student did the work if all assignments are typed.

5. Make-up will be allowed for up to 5 days after an excused absence.

6. It is the student’s responsibility to see me before or after class about any make-up work.

7. More than an adequate number of assignments will be provided for students to be successful. Therefore, there are no extra credit assignments available.

Behavior Expectations and Consequences:

1. Be prompt. Be in your desk and ready to begin class when the bell rings. The bell does not dismiss this class; the teacher does. I will dismiss you after the final bell sounds if everyone is seated and quiet and all materials have been put away.

2. Be respectful. Treat everyone in the classroom with the courtesy and respect you wish to receive yourself. Pay attention and do not distract others. Also, respect the property, personal space, and opinions of others.

3. Be considerate. Think about the feelings of others before you say anything. Also, raise your hand so that each person may have a turn to speak; and don’t conduct personal business (doing your hair, gossiping, passing notes, eating/drinking, etc.) during class time.

4. Be prepared. Bring your textbook, notebook, and a writing utensil to class every day. Complete your homework before coming to class each day.

5. Be present. I expect you to be in class every day! Do not ask to leave the classroom unless it is an emergency.

6. Consequences: First offense, teacher warning—second, parent contact— detention—thereafter, office referral.