LIFEPAC® Consumer Math Unit 10 Worktext

Description

In Consumer Mathematics Unit 10, students review and make connections between financial concepts and terms they learned in Units 1-9, developing a deeper understanding of how all factors, tools, products, and strategies relate to personal finances. Students review types of income, banking tools and options, and budgeting strategies. They also review different types of taxes, different types of insurance, and investment options. Students then review credit scores and how to maintain creditworthiness, and finally, strategies to manage debt and plan for the future.

In this course, students will study:

• Sources of income
• Banking
• Creating a budget
• Smart shopping
• Taxes
• Insurance
• Investments
• Being credit worthy
• Credit cards
• Consumer loans
• Consequences of debt
• Consumer rights
• Researching and evaluating financial sources

Course Objectives

• Identify sources of income and define key terms.
• Identify the major types of financial institutions.
• Identify banking services, tools, and resources.
• List resources available to research career options.
• Describe a budget and the benefits of having one.
• Understand strategies of spending wisely.
• Demonstrate a basic understanding of how income tax works.
• Identify taxes that adults pay.
• Define the purpose of life insurance and different types.
• Understand how health insurance works and key components of coverage.
• Define key financial terms associated with saving and investing.
• Understand common retirement savings plan options.
• Define key terms associated with investing.
• Identify types of credit.
• Understand what is reported to credit bureaus.
• Explain how a credit score affects creditworthiness and the cost of credit.
• Define key financial terms associated with credit cards.
• Define key terms associated with mortgages.
• Identify common types of mortgages and associated costs.
• Identify various types of loans, including student loans, home equity loans, and auto loans.
• Define key terms associated with credit problems.
• Recognize rights and responsibilities as consumers.
• Identify the laws and regulations that protect your bank account.
• Identify the laws and regulations that protect you when applying for a loan.
• Know the characteristics of reliable and unreliable financial resources.
• Recognize tools for evaluating sources of financial information.

Unit 10: Reviewing Consumer Math Concepts

• Incomes, banking, and budgets
• Quiz
• Taxes, insurance, and investments
• Quiz
• Credit scores, credit cards, and consumer loans
• Quiz
• Managing debt and planning for the future
• Quiz
• Unit Test