Course Information
Personal Finance
Personal Finance is designed to help students apply decision-making skills to earning and spending an income, establishing and enhancing savings and investments, insurance, using credit, and managing money. Three hours of free college credit is available through the OTC articulation agreement.
Subject: | Practical Arts |
State Number: | 996400 |
Course Credits: | |
Course Options: |
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NCAA: |
Unit 1 – Careers
- Income 1. Identify components and sources of income.
- Income 2. Analyze how career choice, education, skills, and economic conditions affect income and goal attainment.
Unit 2 – Income Sources & Taxes
- Income 1. Identify components and sources of income.
- Income 3. Relate taxes, government transfer payments, and employee benefits to disposable income.
Unit 3 – Money Management
- Money Management 1. Explain how limited personal financial resources affect the choices people make.
- Money Management 2. Interpret the opportunity costs of financial decisions.
- Money Management 3. Evaluate the consequences of personal financial decisions.
- Money Management 4. Apply a decision-making process to personal financial choices.
- Money Management 5. Summarize how inflation affects spending and saving decisions.
- Money Management 7. Design a financial plan (budget) for earning, spending, saving, and investing.
- Money Management 9. Analyze the role of the Federal Reserve in controlling the money supply.
- Spending and Credit 1. Compare the benefits and costs of alternatives in spending decisions.
Unit 4 – Savings
- Money Management 8. Demonstrate how to use the services available from financial institutions.
- Saving & Investing 1. Compare consumer choices for saving and investing.
- Saving & Investing 2. Explain the relationship between saving and investing.
- Saving & Investing 3. Examine reasons for saving and investing, e.g., time value of money.
Unit 5 – Investing
- Saving & Investing 1. Compare consumer choices for saving and investing.
- Saving & Investing 2. Explain the relationship between saving and investing.
- Saving & Investing 3. Examine reasons for saving and investing, e.g., time value of money.
- Saving & Investing 4. Compare the risk, return, liquidity, manageability, and tax aspects of investment alternatives.
- Saving & Investing 5. Demonstrate how to buy and sell investments.
- Saving & Investing 6. Analyze factors affecting the rate of return on investments (e.g., Rule of 72, simple interest, compound interest).
- Saving & Investing 7. Evaluate sources of investment information.
- Saving & Investing 8. Examine how agencies that regulate financial markets protect investors.
- Saving & Investing 9. Demonstrate how to evaluate advisors’ credentials and how to select professional advisors and their services.
Unit 6 – Spending & Credit
- Spending & Credit 1. Compare the benefits and costs of alternatives in spending decisions.
- Spending & Credit 2. Evaluate information about products and services.
- Spending & Credit 3. Compare the advantages and disadvantages of different payment methods.
- Spending & Credit 4. Analyze the benefits and cost of consumer credit.
- Spending & Credit 5. Compare sources of consumer credit (e.g., credit cards, consumer loans, auto loans, student loans).
- Spending & Credit 6. Evaluate the terms and conditions of credit cards and consumer loans.
- Spending & Credit 7. Evaluate factors that affect creditworthiness.
- Spending & Credit 8. Explain the purpose and components of credit records.
- Spending & Credit 9.Demonstrate awareness of consumer protection and information (e.g., identity theft, phishing, scams).
- Spending & Credit 10. Propose ways to avoid or correct credit problems.
- Spending & Credit 11. Describe the rights and responsibilities of buyers and sellers under consumer protection laws.
Unit 7 – Risk Management
- Money Management 6. Evaluate how insurance (e.g., auto, home, life, medical and long-term health) and other risk management strategies protect against financial loss.
- Spending & Credit 2. Evaluate information about products and services.
This course is offered as dual credit through Missouri State University.*
University Course Number: | FIN 150 |
University Course Name: | Personal Finance |
College Credit Earned: | 3 hours |
Course Fee: |
$210 |
* Course offerings are dependent on enrollment and instructor availability.
Download the Personal Finance - Dual Credit Information Sheet | Download the Personal Finance - Dual Credit Syllabus
Find out more information about dual credit or email [email protected] if you have questions.