Navigation
Log in


Need a new SSL certificate?
 

View Career Major Course

Course Information
Business and Information Technology Education
BT00135
Personal Finance
120.00
This course is designed to provide the knowledge and skills necessary to make wise decisions for financial planning. Students will analyze choices and develop tools to assist them in wise money management. The standards set forth in the Passport to Financial Literacy Act of 2007 (70 O.S. 11-103.6h) will be taught in conjunction with the competencies listed.
Kim Simpson
(405)743-5117
ksimp@okcareertech.org
None
Pay, Benefits, Working Conditions with Fundamental Math Review
-Figure hourly wages
-Determine gross pay with overtime
-Figure net pay with deductions
-Determine self-employment tax for self-employment
-Solve problems analyzing benefits such as profit sharing, paid time off ,employee services, insurance plans, bonuses, stock options and retirement plans
-Read and write whole numbers
-Add and subtract whole numbers
-Multiply and divide whole numbers

Calculating Federal Income Tax
-Use a tax table to determine tax credits
-Find the federal taxes paid to subtract to find total taxes required to pay
-Figure the amount of refund if federal taxes withheld are greater than required
-Prepare a Form 1040EZ and a Form 1040A

Preparing a monthly budget using Math Calculations
-Based on sample information, prepare a monthly and yearly budget
-Based on sample information, prepare a net worth statement
-Based on sample information prepare a personal property inventory
-Read and write decimal numbers
-Round decimal numbers
-Add and subtract decimals
-Multiply and divide decimals
-Convert decimals to fractions and fractions to decimals

Discussing Legal Documents
-Discuss your responsibilities in contracts and agreements
-Fill out a credit application
-Fill out a sample promissory note
-Figure interest on promissory notes
-Calculate simple interest for loans
-Calculate the maturity value of a loan
-Calculate the number of days of a loan and the maturity date
-Examine an example filing system for personal records

Using Checking Accounts
-Discuss the purpose of a checking account and the different types
-Fill out an authorization form
-Fill out sample blank checks
-Fill out a sample deposit slip
-Using sample data, reconcile a bank statement
-Calculate interest earned on the average daily balance of a checking account

Calculating Savings and Investments for Financial Security
-Discuss savings institutions and options
-Figure compound interest
-Discuss investment strategies and risk involved
-Discuss stock features, options and values
-Compute stock's return on investment
-Practice reading the stock listings and progress charts
-Choose stocks to follow, keeping a table of dates and closing prices for a specified time
-Make a graph of analysis of gains and losses for a specific time period
-Discuss types of corporate bonds
-Calculate earnings and percentage yield on corporate bonds
-Discuss government and municipal bonds
-Practice reading bond listings
-Discuss mutual funds
-Practice reading mutual fund listings
-Discuss real estate and other investment options
-Solve problems with a variety of savings and investment scenarios

Analyzing Retirement Strategies and Estate Planning
-Discuss retirement needs and estate planning tools
-Use a retirement calculator to track needed savings for retirement
-Calculate average rate of return
-Use a worksheet to compute the value of sample annuities at the given rate
-Using a worksheet, calculate future values of savings amounts
-Using a worksheet, calculate gains on investments and rank
-Using a worksheet list investments and expectations of potential return on time kept
-Using a worksheet, figure projected income, projected costs needed for a retirement plan

Assessing Credit and Debt
-Discuss the advantages and disadvantages of using credit
-Analyze a sample monthly credit card statement
-Discuss other sources of consumer credit
-Discuss the laws and responsibilities of establishing credit
-Discuss how one safeguards from identity theft
-Discuss factors that affect the interest rate on credit
-Compute finance charges using formulas and tables
-Solve problems with real life situations involving credit
-Discuss bankruptcy and the consequences

Managing Resources
-Solve problems in real life situations that involve consumer decisions in housing, transportation and family planning including charitable giving
-Discuss types of charitable giving and how it benefits society
-Calculate monthly payments on mortgages
-Prepare an amortization schedule
-Calculate principal, interest, taxes, and insurance for an escrow account
-Calculate closing costs for a mortgage loan
-Calculate credit available to a borrower

Managing Personal Risks
-Discuss the concept of insurance and the risk-management process
-Prepare a risk-management plan
-Discuss the law of probability and the effects of gambling on society
-Discuss the types of property insurance and coverage needed
-Calculate insurance reimbursement for a loss
-Examine types of automobile insurance coverage and costs
-Discuss common types of health insurance coverage and plans
-Discuss different types of disability insurance and life insurance
-Apply risk and insurance concepts to create a personal insurance plan
-Compute future values of a whole life policy
-Fill out an insurance claim form
-Discuss ways to reduce health care costs

Consumer Rights and Responsibilities
-Discuss consumer rights and responsibilities
-Examine the Consumer Bill of Rights and its protection from fraud
-Solve consumer problems involving products and services
-Compute unit prices
-Discuss consumer protection laws and agencies
-Discuss the legal system
-Discuss court proceedings
-Discuss dispute resolution resources
-Solve problems involving legal matters
Required Certifications:
-Passing Grade or above on student transcript for Personal Finance (70%)

ODCTE
-Financial Literacy

Recommended certification:

Brainbench:
-Business Math
-Consumer Finance
-Investment Concepts
Brainbench
www. brainbench.com

Financial Literacy
http://www.okcareertech.org/testing/Skills_Standards/Finance_Career_Cluster.htm
Available: http://www.cengage.com/
-Brechner. Contemporary Mathematics for Business and Consumers.
-Ryan. Managing Your Personal Finances.
-Donnelly. On Your Own, A Personal Budgeting, Simulation.
-Family Financial Management. Thomson/South-Western

- Managing Your Personal Finances, 6th Edition, Ryan, Joan S., Cengage, 2010, ISBN 10: 0538449373

Available at https://www.mheonline.com/
-Business and Personal Finance.

Available at http://www.okcimc.com/new/index.htm
-Life Skills: Financial Literacy Skills CIMC. BS1004, 2009.

Available at http://www.smgww.org/
-SMG, The Stock Market Game

Available at http://www.learnkey.com/
-Caliste, Terry. Fractions, Decimals and Percentages
-Cain, Michael. Becoming Successful Problem Solvers

Available at http://www.chadfoster.com/FLFT/index.htm
-Foster, Chad. Financial Literacy for Teens.

Available: https://www.jumpstartcoalition.org/
-Merril Lynch. Financial Literacy.

Available: http://www.federalreserveeducation.org
-Personal Financial Education
No
8178
Yes
Yes
Yes
Career Majors That Sequence This Course
Career Cluster Pathway Career Major
Business Management & Administration Management Entrepreneur
Finance Banking & Related Services Financial Services Officer
Marketing, Sales & Service Management and Entrepreneurship Small Business Assistant
Marketing, Sales & Service Management and Entrepreneurship Small Business Owner