This course is designed to prepare you to live on your own. Wise money management, career selection, food preparation, and living environments will be discussed. Successful completion of this course will fulfill the Consumer Education requirement.
It is important to plan for the future using the decision making process and identifying factors that influence the decisions we make. The three economic roles we play in society are the consumer, worker, and citizen.
As consumers, we have the right to know how our economic system works, including, agencies and statutes that protect us at the local, state, and federal levels. Exploring career options, identifying employability skills, and preparing a professional resume are essential steps to landing a job. Understanding the banking system and how credit works, while identifying the importance of saving money, will assist in preparing and investing in an individual financial future.
There are various tax forms to be filed by consumers at the state and federal levels.
Living on your own includes understanding how to shop and care for clothing needs.
Making wise food purchasing decisions is important to living healthy and maintaining a well balanced diet. The cost to own(car payments) versus the cost to operate(gas prices) a motor vehicle are important to analyze when making transportation purchases. To prepare for a secure financial future, consumers need to create a budget, discuss needs and wants, identify gross/net income, and revise spending habits as needed.
The cost to live on your own involves identifying financial needs, knowing how to rent or buy housing, shop for furnishings, and discussing moving out expenses. Insurance needs are based on individual and family circumstances.
Insurance policies require that consumers meet yearly deductibles and pay monthly premiums. Recreational time is important to personal well being.
What type of economy does the U.S. have?
What are the roles of the worker, consumer, producer and citizen in the U.S. economy?
What are the steps in the decision making process?
How can I apply the decision making process to problems and situations in my every-day life?
How do I write my resume?
How do I prepare for a job interview?
How do I make wise food purchase decisions?
What are ways to save money and invest for the future?
How do I manage my money?
What are the types and sources of consumer credit?
How does one establish and maintain good credit?
What are taxes and how are they used?
What are citizens’ responsibilities for local, state, and federal taxes?
How do I choose and pay for clothing?
How do I care for clothing?
What costs are associated with owning and operating a vehicle?
What are the types of vehicle insurance I need?
How do I prepare a financial budget?
What is the difference between renting and owning property?
What are the different types of insurance?
What are laws that protect consumers?
What are recreational activities?
How does recreation benefit a person’s life physically, mentally, and
Course Academic Vocabulary:
Decision Making Skills: Values, Personal/Financial Goals, Decision Making Process, Time Management, Ethics, Self Esteem
Consumers in the Economy: Supply/Demand, Recession, Inflation, Economic Depression, Economic System, State/Local, and Federal Taxes
Banking: Checks, Deposit Slips, Register, Endorsements, Accounts, Credit Union, Financial Institutions
Savings& Investing: Retirement, Pensions, 401(K), PYF, Portfolios, Interest, Statement/Passbook Accounts, Certificates of Deposit
Credit: Debt, Credit Cards, Charge Cards, Credit Limit, Grace Period, Over the Limit Fees, Balance, Finance Charge, APR
Budgeting: Gross/Net Income, Fixed/Flexible Expenses, Financial Planning, State/Local, and Federal Taxes
Taxes: State/Local/Federal Spending, W-2, W-4, 1040EZ, IL1040, Interest Income, Filing Status
Resumes & Careers: Resume, Cover Letter, Interviewing Skills, Career Options, Dress to Impress
Foods: Nutrition, Leaving Tips/Table Etiquette, Meal Planning, Food Purchasing/Coupons
Clothing: Care Labels, Washer/Dryer Instructions, Wardrobe Selection
Recreation: Public/Private Facilities, Finances
Course Units / Topics of Study:
Needs and wants
Planning for the future
The Consumer in our Economy
Role of the worker
Resumes, Interviewing, & Careers
Preparing for interviews
Participation in interviews
Consumer information and protection
Savings and investing
Income distribution & redistribution
Short & long term
Rental & lease agreements
Purchasing & financing
Real estate investment
Activities and Facilities
Incorporating into the Budget