Unit 7

Unit7: PFL Personal Financial Literacy (10 days)

  • Determine the difference between gross and net income

  • Determine the benefits of different forms of payment

  • Define income, payroll, sales and property tax

  • Balance a simple budget

  • Reinforcement of all facts through 12 x 12


TEKS: 5.10A 5.10B 5.10C 5.10D 5.10E 5.10F


Unit 7

  • What are the differences between fixed and variable expenses?

  • How would you calculate profit in different situations?

  • How would you create a budget and why are budgets important?

  • What are the purposes of financial institutions?


Unit 7

5.10(C), 5.10(D), 5.10(E), 5.10(F)

Budgets

balanced budget, budget, check, credit card, debit card, electronic payment, financial records

5.10(A), 5.10(B)

Taxes

deduction, employer/employee, gross income, income tax, net income, payroll tax, property tax, sales tax, wages