Transcript personal finance - Mentor High School

PERSONAL FINANCE
National Business Education
Standards
CAREER DEVELOPMENT
• Self Awareness
– Assess personal skills, abilities, and aptitudes
and personal strengths and weakness
• Career Research
– Utilize career resources to develop a career
information database that includes
international career opportunities
• Workplace Expectations
– Relate the importance of workplace
expectations to career development
CAREER DEVELOPMENT
• Career Strategy
– Apply knowledge gained from individual
assessment to a comprehensive set of goals
and an individual career plan
• School to Career Transition
– Develop strategies to make an effective
transition from school to career
• Lifelong Learning
– Relate the importance of lifelong learning to
career success
INCOME
• Identify sources of income
• Analyze how career choice, education,
skills, and economic conditions affect
income
• Explain how taxes, government transfer
payments, and employee benefits relate to
disposable income
MONEY MANAGEMENT
• Explain how limited personal financial
resources affect the choices people make
• Identify the opportunity cost of financial
decisions
• Discuss the importance of taking
responsibility for personal financial
decisions
• Apply a decision-making process to
personal finance decisions
MONEY MANAGEMENT
• Explain how inflation affects spending and
investing decisions
• Describe how insurance and other riskmanagement strategies protect against
financial loss
• Design a plan for earning, spending,
saving, and investing
• Explain how to use money-management
tools available from financial institutions
SPENDING & CREDIT
• Compare the benefits and costs of
spending decisions
• Evaluate information about products and
services
• Compare the advantages and
disadvantages of different payment
methods
• Analyze the benefits and costs of
consumer credit
SPENDING & CREDIT
• Compare sources of consumer credit
• Explain factors that affect creditworthiness
and the purpose of credit records
• Identify ways to avoid or correct credit
problems
• Describe the rights and responsibilities of
buyers and sellers under consumer
protection laws
SAVING & INVESTING
• Explain the relationship between saving
and investing
• Describe reasons for saving and reasons
for investing
• Compare the risk, return, and liquidity of
investment alternatives
• Describe how to buy and sell investments
SAVING & INVESTING
• Explain how different factors affect the rate
of return of investments
• Evaluate sources of investment
information
• Explain how agencies that regulate
financial markets protect investors