Business and Marketing Education: Personal Finance

Explain the economic impact of interest-rate fluctuations.

Explain forms of financial exchange.

Identify types of currency.

Describe functions of money.

Describe sources of income.

Explain time value of money.

Explain the purposes and importance of credit.

Explain legal responsibilities associated with financial exchanges.

Explain the nature of financial needs (e.g. college, retirement, wills, insurance, etc.). 

Explain the need to save and invest.

Set financial goals.

Develop personal budget. 

Determine personal net worth.

Explain the nature of tax liabilities.

Interpret a pay stub.

Prepare bank account documents (e.g. checks, deposit/withdrawal slips, endorsements, etc.).

Maintain financial records.

Read and reconcile bank statements.

Calculate the cost of credit. 

Demonstrate the wise use of credit.

Validate credit history.

Make responsible financial decisions.

Protect against identity theft. 

Pay bills.

Control debt.

Prepare personal income tax forms.

Discuss the nature of retirement planning. 

Explain the nature of estate planning.

Describe types of financial-services providers.