Overview: What strategies and opportunities can individuals pursue to effectively make money and achieve financial success?

This unit focuses on the exploration of personal income sources, career development choices, and the financial implications associated with postsecondary education. Students will gain insights into the various sources of personal income and compensation, analyzing the impact of economic conditions and cost of living factors on income and purchasing power. Additionally, they will predict the potential impact of education and skill development choices on future earnings and investigate the total cost, affordability, and payment options related to postsecondary options, degrees, and credentials.  Students will review the purpose and process of accessing state and federal financial aid, including completing applications such as the Colorado Application for State Financial Aid (CASFA) and the Free Application for Federal Student Aid (FAFSA). They will analyze student loan repayment options, terms, requirements, and state and federal repayment programs, enabling them to understand the implications of borrowing on their financial future.  Throughout the unit, students will examine macro trends in American history and evaluate the concept of social capital in relation to their own lives. They will develop professional profiles to gain insights into future job experiences, considering the costs and benefits of different postsecondary opportunities. Additionally, students will apply the principles of business models and marketing to address social problems, expanding their understanding of entrepreneurship beyond traditional business contexts.  By the end of the unit, students will have a comprehensive understanding of personal income sources, career development choices, and the financial aspects of postsecondary education. They will be equipped to make informed decisions about their future financial well-being and explore ways to address social challenges through entrepreneurial approaches.

The highlighted evidence outcomes are the priority for all students, serving as the essential concepts and skills. It is recommended that the remaining evidence outcomes listed be addressed as time allows, representing the full breadth of the curriculum.

Students Can (Evidence Outcomes):

• Compare different sources of personal income and compensation. Including but not limited to: earned income, profit income, interest income, dividend income, rental income, capital gains, and royalties. (5.2.a)

• Analyze the impact of economic conditions and cost of living factors on income and purchasing power. (5.2.b)

• Predict the potential impact of education and skill development choices on career earnings, including starting salary by field and level of degree or credential. (5.2.c)

• Investigate the total cost, affordability, and payment options associated with postsecondary options, degrees, and credentials, including personal savings, scholarships, grants, employer tuition programs, work study, and public and private loans. (5.2.d)

• Review the purpose and the process of accessing state and federal financial aid.  Including but not limited to: the Colorado Application for State Financial Aid (CASFA), the Free Application for Federal Student Aid (FAFSA) application for financial aid. (5.2.e)

• Analyze student loan repayment options, terms, requirements, and state and federal repayment programs and their impact on a student’s financial future. (5.2.f)

• Analyze the monetary and non-monetary value of employee benefits in addition to pay. For example: Benefits, flexible work options, and retirement plans. (5.2.g)