PERSONAL FINANCE

National Business Education Standards

CAREER DEVELOPMENT

• Self Awareness– Assess personal skills, abilities, and aptitudes

and personal strengths and weakness

• Career Research– Utilize career resources to develop a career

information database that includes international career opportunities

• Workplace Expectations– Relate the importance of workplace

expectations to career development

CAREER DEVELOPMENT

• Career Strategy– Apply knowledge gained from individual

assessment to a comprehensive set of goals and an individual career plan

• School to Career Transition– Develop strategies to make an effective

transition from school to career

• Lifelong Learning– Relate the importance of lifelong learning to

career success

INCOME

• Identify sources of income

• Analyze how career choice, education, skills, and economic conditions affect income

• Explain how taxes, government transfer payments, and employee benefits relate to disposable income

MONEY MANAGEMENT

• Explain how limited personal financial resources affect the choices people make

• Identify the opportunity cost of financial decisions

• Discuss the importance of taking responsibility for personal financial decisions

• Apply a decision-making process to personal finance decisions

MONEY MANAGEMENT

• Explain how inflation affects spending and investing decisions

• Describe how insurance and other risk-management strategies protect against financial loss

• Design a plan for earning, spending, saving, and investing

• Explain how to use money-management tools available from financial institutions

SPENDING & CREDIT

• Compare the benefits and costs of spending decisions

• Evaluate information about products and services

• Compare the advantages and disadvantages of different payment methods

• Analyze the benefits and costs of consumer credit

SPENDING & CREDIT

• Compare sources of consumer credit

• Explain factors that affect creditworthiness and the purpose of credit records

• Identify ways to avoid or correct credit problems

• Describe the rights and responsibilities of buyers and sellers under consumer protection laws

SAVING & INVESTING

• Explain the relationship between saving and investing

• Describe reasons for saving and reasons for investing

• Compare the risk, return, and liquidity of investment alternatives

• Describe how to buy and sell investments

SAVING & INVESTING

• Explain how different factors affect the rate of return of investments

• Evaluate sources of investment information

• Explain how agencies that regulate financial markets protect investors