Unit+7-+Personal+Financial+Literacy+(Economic+Responsibility)

practices
 * Unit 7: Personal Financial Literacy- Economic Responsibility **
 * **__ Time Frame: __**** 2.5 Weeks ** ||
 * **__ Essential Standards: __**
 * __ PFL. 1.1 __**Explain how education, income, career, and life choices impact an individual’s financial plan and goals
 * __ PFL. 1.2 __**Explain how fiscally responsible individuals create and manage a personal budget that is inclusive of income, taxes, gross and net pay, giving, fixed and variable expenses and retirement
 * __ PFL. 1.3 __**Analyze how managing a checking and savings account contributes to financial well being
 * __ PFL. 1.4 __**Summarize how debt management and credit worthiness impact an individual’s ability to become responsible consumers and borrowers
 * __ PFL. 1.5 __**Analyze how fiscally responsible individuals save and invest to meet financial goals
 * __ PFL. 1.6 __**Compare various investing strategies and tax implications for their potential to buildwealth
 * __ PFL. 2.1 __**Explain how consumer protection laws and government regulation contribute to the empowerment of the individual
 * __ PFL. 2.2 __**Summarize various types of fraudulent solicitation and business practices
 * __ PFL. 2.3 __**Summarize ways consumers can protect themselves from fraudulent and deceptive
 * __ PFL. 2.4 __**Classify the various types of insurance and estate planning including the benefits and consequences
 * __ PFL. 2.5 __**Summarize strategies individuals use for resolving consumer conflict ||
 * **__ Essential Questions: __**
 * 1. What is the significance of education and training on the workforce? **
 * 2. How does the government protect consumers and small businesses? **
 * 3. What impact does credit have on individuals and businesses? **
 * 4. How might overuse of credit affect a consumer? **
 * 5. What factors affect a household’s disposable income? **
 * 6. How do education and career choices affect one’s standard of living? **
 * 7. **
 * 8. **
 * 9. **
 * 10. **
 * 11. ** ||
 * **__ Essential Understandings: __** ||
 * **__ Vocabulary: __**
 * Career**
 * Financial Responsibility**
 * Decision-making**
 * Saving**
 * Investing**
 * Credit**
 * Debt**
 * Choice**
 * Costs**
 * Benefits**
 * Budget**
 * Income**
 * Expenditures**
 * Disposable Income**
 * Discretionary Income**
 * Checking Account**
 * Savings Account**
 * Annual Percentage Rate (APR)**
 * Interest**
 * Principle**
 * Types of Investments (Stocks, Bonds, CDs, Mutual Funds)**
 * Returns**
 * Risk Management**
 * Types of Insurance**
 * Consumer Protection**
 * Consumer Responsibility**
 * Fraud**
 * Identity Theft**
 * Social Security**
 * Rent**
 * Mortgage**
 * Gross Pay**
 * Net Pay**
 * Fixed Expenses**
 * Variable Expenses**
 * Retirement**
 * Credit Score/Rating**
 * Stock Market**
 * Federal Trade Commission**
 * Consumer Product Safety Commission**
 * Better Business Bureau**
 * Ponzi Schemes**
 * Fraud** ||
 * **__ Technology: __** ||
 * **__ Resources/Activities: __**
 * Participate in the Stock Market Game **
 * Analyze current stocks ** ||
 * **__ Assessments/Performance Tasks: __** ||