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