Overview: 

Students utilize knowledge and strategies to get the best possible financing terms (that meet their individual needs and budget) for a new or used car, and they will explain the difference between a car loan and lease as well as advantages and disadvantages of each.  They also learn about the differences between buying and renting a home and how insurance and taxes impacts spending decisions.  Students create a budget and implement strategies for saving money on groceries, calculate unit price on common grocery items and use that as part of their decision making process, and they will plan a food budget that includes both groceries and dining out.  In the end, students describe the difference between budgetary needs and wants and how these change from person to person, and they assess their own values in order to create a monthly budget for their discretionary spending.

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):

• Recognize the alternatives, consequences, and responsibilities associated with personal financial decisions. (5.1.a)

• Use reliable information resources when making financial decisions. (5.1.b)

• 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) 

• Simulate a sustainable household budget based on future personal and career goals. (5.2.h)

• Design a household budget (using gross and net income) that addresses financial obligations and integrates saving for future goals and retirement based on your values and goals. (5.3.d)