Discuss ways to build credit. Identify and explain the different parts of credit. Recognize the importance of having a varied mix of credit. Identify the range of credit scores and be able to describe if they are good or bad. Discuss good consumerism techniques. Focus Standards Addressed in this Unit: Pennsylvania Family and Consumer Sciences Academic Standards: 11.1.12.B- Analyze the management of financial resources across the lifespan. 11.1.12.E- Compare and contrast factors affecting annual and taxable income and reporting requirements (e.g., W-2 form, income tax form). Important Standards Addressed in this Unit: Pennsylvania Family and Consumer Sciences Academic Standards: 11.1.12.A- Evaluate the impact of family resource management on the global community. 11.1.12.D- Evaluate the role of consumer rights and responsibilities in the resolution of a consumer problem through the practical reasoning process. 11.1.12.G- Compare the availability, costs, and benefits of accessing public, nonpublic, and not-for-profit services to assist the family. 11.2.12.A- Justify solutions developed by using practical reasoning skills. Misconceptions: -Keeping track of money is an easy thing that anyone can do. -Having a lot of credit cards is great for your credit score. -Credit is no big deal and having a low score is ok. Concepts/Content: Competencies/Skills: Description of Activities: * Learn basic money management skills. * Keep a checking account and be sure -Class discussions * Identify common types of credit. that it is correct. -Group activities to discuss housing and roommates * Discuss the parts of a credit report and * Discover and apply basic ways to build -Various Worksheets explain what each of them mean. credit. -Keeping a Checking Account/Reconciling it *Explain and implement good -How To Be A Millionaire game consumerism techniques. -PowerPoints Assessments: Checking Account Packet/Reconciliation, Money Matters Test Interdisciplinary Connections: Additional Resources: History (Background information about money and taxes), Math Worksheets, PowerPoints, Teacher notes, (accounting and money, checking account, paycheck information, credit), Business Subject: Consumerism, Housing, And Grades: 10, 11, 12 Suggested Timeline: 6 periods per cycle, 1 semester Interior Design
Discuss ways to build credit. Identify and explain the different parts of credit. Recognize the importance of having a varied mix of credit. Identify the range of credit scores and be able to describe if they are good or bad. Discuss good consumerism techniques. Focus Standards Addressed in this Unit: Pennsylvania Family and Consumer Sciences Academic Standards: 11.1.12.B- Analyze the management of financial resources across the lifespan. 11.1.12.E- Compare and contrast factors affecting annual and taxable income and reporting requirements (e.g., W-2 form, income tax form). Important Standards Addressed in this Unit: Pennsylvania Family and Consumer Sciences Academic Standards: 11.1.12.A- Evaluate the impact of family resource management on the global community. 11.1.12.D- Evaluate the role of consumer rights and responsibilities in the resolution of a consumer problem through the practical reasoning process. 11.1.12.G- Compare the availability, costs, and benefits of accessing public, nonpublic, and not-for-profit services to assist the family. 11.2.12.A- Justify solutions developed by using practical reasoning skills. Misconceptions: -Keeping track of money is an easy thing that anyone can do. -Having a lot of credit cards is great for your credit score. -Credit is no big deal and having a low score is ok. Concepts/Content: * Learn basic money management skills. * Identify common types of credit. * Discuss the parts of a credit report and explain what each of them mean. *Explain and implement good consumerism techniques. Competencies/Skills: * Keep a checking account and be sure that it is correct. * Discover and apply basic ways to build credit. Description of Activities: -Class discussions -Group activities to discuss housing and roommates -Various Worksheets -Keeping a Checking Account/Reconciling it -How To Be A Millionaire game -PowerPoints Assessments: Checking Account Packet/Reconciliation, Money Matters Test Interdisciplinary Connections: History (Background information about money and taxes), Math (accounting and money, checking account, paycheck information, credit), Business Additional Resources: Worksheets, PowerPoints, Teacher notes, Subject: Consumerism, Housing, And Interior Design Grades: 10, 11, 12 Suggested Timeline: 6 periods per cycle, 1 semester