Financial Literacy

Avon Lake City Schools

Curriculum Framework

Financial Literacy

Course Overview:

The scope of Personal Financial Literacy will cover these six areas. A more detailed breakdown is given below.

  • Financial Responsibility & Decision Making
  • Planning & Money Management
  • Informed Consumer
  • Investing
  • Credit & Debt
  • Risk Management & Insurance

Textbook (Title and Publishing Company):

Personal Financial Literacy 3rd Edition 2019, Pearson Publishing

Online/Supplemental Materials:

Pearson MyLab Online

Assessments:

Common assessments are given across all Financial Literacy courses.

Standards/Learning Goals:

Subject to Pacing and Schedules

First Quarter

Overview of Personal Finance

  • Define personal finance
  • Analyze the benefits of good financial decision-making
  • Examine goals for which people make financial plans

The Financial Plan

  • Describe the purpose of a financial plan
  • Identify the key components of a financial plan

inancial Decision-Making

  • Differentiate between cash inflow and cash outflow
  • Explain the steps in financial decision-making

Budgets and Balance Sheets

  • Explain the steps involved in creating a budget
  • Describe the steps involved in creating a personal balance sheet
  • Understand the importance of budgeting in your financial plan

Careers and College Readiness

  • Explain the process for choosing a career path
  • Identify different sources of information for researching careers
  • Discuss how one can gain the skills needed for a career choice
  • Describe the process of applying for a job
  • Describe the interview process

Paying Taxes

  • Describe the basic principles of taxation and the major categories of taxes
  • Explain payroll taxes
  • Discuss the purpose and process of filing tax returns
  • Understand how taxes affect your financial plan

Second Quarter

Insuring Your Health and Your Life

  • Explain why health insurance is important
  • Describe different features of health insurance
  • Understand the need for life insurance
  • Discuss the ways people obtain insurance

Obtaining and Protecting Your Credit

  • Explain the concept of consumer credit, including the major types and their benefits and drawbacks
  • Describe the keys to building and maintaining healthy credit
  • Identify methods of protecting your identity

Personal Loans and Purchasing Decisions

  • Describe the key features and qualities of personal loans
  • Discuss the unique issues and challenges of financing an education
  • Discuss the unique issues and challenges of financing a car

Credit Cards and Other Forms of Credit

  • Explain how credit cards work
  • Describe different credit card features
  • Discuss how to use a credit card correctly
  • Identify other risky credit arrangements

Purchasing and Financing a Home

  • Describe the factors that determine how much you can afford to pay for a home
  • Explain how to select a home to purchase
  • Describe the transaction costs associated with buying a home
  • Describe the different types of mortgages
  • Compare the costs of renting versus buying a home

Banking Procedures and Services

  • Explain the difference between different types of financial institutions
  • Learn the basics of having a checking account, including how to balance an account
  • Identify other available banking services
  • Describe the two major federal insurers
  • Explain the function and goals of the Federal Reserve

Methods of Saving

  • Explore the ways in which savings can earn interest
  • Examine the different types of bank accounts that can aid in saving
  • Describe retirement savings options

Investing Fundamentals

  • Understand the reasons for investing
  • Identify investment choices
  • Explore other options for investing

Last Updated: September, 2023