Personal Financewveis Code 1451

Personal FinanceWVEIS Code 1451

Personal Finance is a multi-disciplinary approach to personal financial management for high school students.

Standard 1: Interrelated Roles (1451.S.1)

Describe the interrelated roles of job seeker, wage earner and employee.

Interrelated Roles Objectives

The student will:

1451.1.1Explain job search strategies.

1451.1.2Describe effective tools for securing employment including resume, application letter, interview, and follow-up.

1451.1.3List examples of employee and employer responsibilities at the workplace.

1451.1.4Discuss employee benefits, labor unions and professional organizations.

1451.1.5Identify ethical character traits, such as honesty, integrity, compassion, respect, responsibility, citizenship and justice.

Standard 2: Analyzing and Interpreting (1451.S.2)

Analyze and interpret decisions that contribute to financial stability and personal satisfaction.

Analyzing and Interpreting Objectives

The student will:

1451.2.1Prepare financial planning documents and describe types of contracts.

1451.2.2Prepare documents used with checking accounts, and compare consumer banking services.

1451.2.3Explain purposes, types and history of taxes.

1451.2.4Prepare a short form tax return.

1451.2.5Give examples of savings options, discuss the need for and purpose of savings and compute interest on savings.

1451.2.6Discuss investment options, the need for and purpose of investments and the criteria for choosing investments.

1451.2.7Identify principles of risk management.

1451.2.8Describe benefits of major types of insurance.

Standard 3: Credit Planning (1451.S.3)

Describe credit and plans for using credit in terms of present and future needs and income.

Credit Planning Objectives

The student will:

1451.3.1List advantages and disadvantages of credit, types of credit and sources of credit.

1451.3.2Discuss the concept of creditworthiness as it relates to credit records, credit ratings, credit reports, and credit laws.

1451.3.3Compute the costs of credit.

1451.3.4Discuss methods of reducing credit costs and responsibilities of consumer credit.

1451.3.5List major causes of bankruptcy.

1451.3.6Identify the advantages and disadvantages of bankruptcy.

1451.3.7Discuss bankruptcy laws and their purpose and understand how to solve credit problems.

Standard 4: Economic and Consumer Responsibility (1451.S.1)

Describe common economic problems and consumer responsibility in the marketplace.

Common Economic Problems/Consumer Responsibility Objectives

The student will:

1451.4.1Discuss characteristics of the marketplace and the free enterprise system.

1451.4.2Identify fraudulent and deceptive practices, and prescribe wise consumer behavior.

1451.4.3List consumer Legislation, sources of consumer protection, and describe how to contact public officials to express opinions.

1451.4.4Describe the court system available for use in consumer redress and list other ways of finding remedies for consumer problems.