Standard

SS6E13 Understand that a basic principle of effective personal money management is to live within one’s income.

a. Understand that income is received from work and is limited.

b. Understand that a budget is a tool to plan the spending and saving of income.

c. Understand the reasons and benefits of saving.

d. Understand the uses and costs of credit.

Learning Targets

•  I can define the key terms that contribute to one’s income such as income, budget, credit, investing, money, spending, saving.

• I can create a responsible monthly budget living within a given income.

• I can explain how income is produced and limited by one’s occupation.