Personal Finance

General Expectations
Workplace Readiness Skills
Virginia's All Aspects of Industry

Thanks to Rebecca S. Shepherd for her commentary entitled: Surfing the Web: Links Provide Wealth of Economic Info, published in the Richmond Times Dispatch on Sunday, December 14, 2003.

Opening Day

BUS6121.101--Identify purposes and goals of FBLA BUS6121.102--Participate in course activities sponsored by FBLA student organization (meetings, programs, other projects) Extra Credit:
BUS6121.096--Investigate career opportunities in finance
BUS6121.097--Identify types of training/experience required for various finance positions
BUS6121.040--Investigate employee tax deductions
Preparing a Personal Financial Plan
BUS6121.045--Identify short-term and long-term personal financial goals
  • Mid-Atlantic Guide to Information on Careers (MAGIC)--online or hard copy
  • Maslow's Hierarchy of Needs:  5 Level--Self-Actualilzation, Self-Esteem, Love & Belonging, Safety & Security, Food/Clothing/Shelter
  • Herzberg's Two-Factor Theory:  Hygiene Factors & Motivators
  • Needs versus Wants
  • Three Types of Listening:  sympathetic, critical, creative
  • Work Rules:  unspoken, unwritten, written (handbook), expected penalties

    • Communications:  horizontal, upward, downward
    BUS6121.046--Identify primary and supplemental income sources
    BUS6121.047--Identify anticipated expenses

    Regional FBLA Conference-- @ JSRCC - MARCH 5, 2005

    BUS6121.098--Prepare an employment portfolio Extra Credit:
    BUS6121.099--Prepare employment-related correspondence (e.g., accepting a position, withdrawing from employment consideration, resigning from a position)

    BUS6121.100--Investigate international financial careers


    Conducting Tax Functions:  Financial Documents for Employment

    BUS6121.037--Identify types of taxes
    BUS6121.039--Investigate options for payroll tax deductions
    BUS6121.040--Explore potential tax deductions and credits (e.g., health expenses, child/elderly care costs)
    BUS6121.041--Complete a standard W-4 form
    BUS6121.042--Analyze a standard W-2 form
    BUS6121.043--Complete a state income tax form, including electronic formats
    BUS6121.044--Complete short and itemized federal income tax forms, including electronic formats


    Planning for Tsransportation, Housing, and Leisure Expenses

    BUS6121.009--Plan for purchase of a vehicle, including taxes, maintenance, incidental costs
    BUS6121.032--Examine types of automobile insurance coverage

    BUS6121.010--Outline the process of renting housing, including the interpretation of the provisions of a residential lease agreement and an estimation of moving costs and installation charges
    BUS6121.033--Examine types of property coverage BUS6121.011--Identify utility, services, maintenance, and other regular expenses involved in independent living (e.g., furniture rental, appliance rental)

    BUS6121.012--Plan a budget for a major expense (e.g., gifts, vacation, celebration)

    BUS6121.013--Identify weekly, monthly, and yearly leisure expenditures (e.g., video rentals, movies, sports or exercise, computer online service)
     


     

    BUS6121.051--Develop a personal financial budget for short- and long-term plan Goal Setting * Realism * Specificity * Deadline * Cost 20.3 Individual and Collective Goals 20.4 Personal Factors Affecting Buying Decisions 20.5 Outisde Decisions Workplace Readiness 20.6 Marketing Factors Skills--Planning "Pizza Principle" Feb *

    BUS6121.001--Identify * Divide and conquer 24 steps in making a * 3 x 3 minimum--Example purchase decision o 3 milestones o 3 steps/milestone Jump Start--describes practical approach to making informed decisions about spending and saving Young Money--offers tips on money management, investing, financial aid, credit and debt, careers, and consumer issues Consumer Skills *

    BUS6121.002--Develop comparison-shopping skills How to Save *

    BUS6121.051--Develop a Feb personal financial budgetTerms: Return on Investment, Lump-Sum 26 for short- and long-term Investment, Compound Interest, Rule of 72 plan *

    BUS6121.052--Identify investment and savings options Handling Banking Transactions *

    BUS6121.014--Identify Truth in Savings Act services provided by financial institutions Terms: Annual Percentage Yield (APY), *

    BUS6121.019--Evaluate Liquidity, Certificate of Deposit, Mar various savings Statement Savings, Money Market Savings, 1 mechanisms (e.g. Megabyte Money, Internet Service Provider interest-bearing checking(ISP), Electronic Funds Transfer (EFT), accounts, savings accounts, savings bonds, certificates of deposit Handling Banking Transactions *

    BUS6121.015--Prepare How to Choose the Right Checking Account checks, stubs, and check register How to Write and Keep a Check Register * BUS6121.016--Demonstrate endorsement functions How to Balance Your Checkbook with Bank's Mar *

    BUS6121.017--Reconcile Records 1 - bank statements 2 *

    BUS6121.018--Make How to deposit/withdraw deposits and withdrawals *

    BUS6121.020--Compare Open discussion of banking styles advantages of on-line and traditional banking View Movies: Handling Credit/Loan FunctionsThe ABC's of Personal Finance: An Essential Money Management Guide by John *

    BUS6121.022--Evaluate Charles Pool and Robert L. Frick for The various methods of Durell Institute of Monetary Science at financing a purchase Shenandoah University (e.g., loan, installment plan, layaway, credit The Fed Today: History, Structure, card) using a variety of Monetary Policy, Banking Supervision, electronic methods of Financial Services and More! by Federal calculation Reserve Bank of Dallas *

    BUS6121.023--Identify qualifications needed to Virtual Tour of Federal Reserve Bank of obtain credit Richmond *

    BUS6121.026--Compare terms and conditions of "The Mint: It Makes Cents"--website with various credit sources activities regarding money management Mar *

    BUS6121.029--Identify the 4 need for a sound credit "WisePockets"--integrates children's lit rating with economics and financial literature *

    BUS6121.031--Compare the costs and conditions Research and identify the following: (secured or unsecured) involved with various Federal Reserve Act types of loans (e.g., Truth in Lending Act educational, automobile, Equal Opportunity Credit Act home improvement) Federal Open Market Committee *

    BUS6121.021--Calculate (FOMC) electronically a payment Federal Deposit Insurance schedule for a loan Corporation (FDIC) Automated Clearing House (ACH) Investigating the Monetary System Credit Rating Information Lending Approval Guidelines Field Trip--FBLA Regional Spring *

    BUS6121.102--Participate Leadership Conference @ JSRCC in course activities sponsored by the student Meet at JSRCC @ 9:00 a.m.; leave @ Noon Mar organization (e.g., 6 meetings, programs, and Panel discussion with other projects) business/industry leaders Investigating Economic Principles *

    BUS6121.064--Explain the impact of supply and demand (e.g., on spending power, unemployment, environment) Review Economic Websites and report Exploring Management Functionsfindings

    BUS6121.094--Analyze the Peanuts and Crackerjacks--reviews effects of ethics on economics of professional sports Mar business and financial 8 - management decisions Pick an economic topic 9 Handling Credit/Loan FunctionsIntroduce Money Matters *

    BUS6121.024--Identify Complete exercises in How to Do Your basic provisions of Banking from BB&T credit and loan laws *

    BUS6121.025--Identify purposes and procedures involved in credit checks and credit reports *

    BUS6121.027--Complete a sample credit application Devising an Investment Plan Conducting Tax Functions BUS6121.037--Identify types of taxes

    BUS6121.039--Investigate options for payroll tax deductions

    BUS6121.040--Explore potential tax deductions and credits Movies: Demystifying the Stock Market Mar (e.g. health expenses, The Mystical World of Money 11 child/elderly care costs) Internal Revenue Service: You and Taxes -

    BUS6121.041--Complete a "Only What You Owe" 19 standard W-4 Form "Economics of Taxation"

    BUS6121.042--Analyze a standard W-2 Form BUS6121.043--Complete a state income tax form, including electronic formats

    BUS6121.044--Complete short and itemized federal income tax forms, including electronic formats Analyzing Insurance Functions *

    BUS6121.032--Examine types of automobile Define types of insurance: insurance coverage *

    BUS6121.033--Examine medical, dental, life, disability, types of property homeowners, renters, flood, auto coverage (liability, collision, comprehensive, Mar *

    BUS6121.034--Examine uninsured motorist fee) 22 types of life insurance - coverage Websites: 25 *

    BUS6121.035--Examine http://www.mypf.swep.com types of health insurancehttp://info.insure.com/glossary.cfm coverage http://www.caru.org/guidelines/changes.asp *

    BUS6121.036--Identify roles of insurance in financial planning (e.g., disability and unemployment) Presentation on Insurance Functions * visual aid(s) * definition of each type of insurance * explanation of each by scenario Analyze Insurance Functions * role of insurance in financial planning Assessment o disability o unemployment o natural disaster o accident o workers compensation Presentation Rubric Begin researching topics Price Comparison Websites: Nextag.com DealTime.com BizRate.com--superb customer survey Developing Consumer Skills PriceGrabber.com--fewer products but accurate, including tax & shipping *

    BUS6121.001--Identify Froogle.google.com--searches entire web steps in making a mySimon.com--good for tech gadgets purchase decision ConsumerSearch.com--provides expert *

    BUS6121.004--Develop reviews filing system for KidsEcon.com--easy and interactive personal finance records HIP Pocket Change--games, biographies of *

    BUS6121.005--Examine the persons on coin images impact of advertising andEscape from Knab!--simulated adventure of marketing onconsumer survival decisions and banking decision-making Wall Street simulation--stock market understanding/investment decisions "How Much Is That?"--purchasing power of US dollar Ump's Fwat--caveman entrepreneur story Developing Consumer Skills *

    BUS6121.003--Identify consumer protection and assistance agencies

    BUS6121.006--Access financial information (using electronic, verbal and printed sources)

    BUS6121.007--Explain procedures involved from filing of legal complaint through judgment
    Guided Managing Your Resources Project
    Begin Managing Personal Risks Project 

    BUS6121.008--Identify consumer rights and remedies
        Choosing Your Career Job Research
        Workplace Readiness Skills
        Planning Your Career
        Interviewing
        Getting the Job
        Workplace Readiness Skills
        Letter of Application
        Employment Application

    Investigating Economic Principles
    BUS6121.062--Explain how the activities of an economic system can be measured (e.g., Macroeconomics GNP, stock market, consumer index)
    Movie: The Prime-Time World of 
    Search for "Economic Terms" or visit Encyclopedia of Finance
    BUS6121.064--Explain the Federal Reserve Bank
    Glossary
    impact of supply and demand (e.g., on spending power, unemployment, environment)
    Introduction of Forms:
        W-2 Wage & Tax Statement
        W-4 Employee's Withholding Allowance Certificate
        I-9
        1040/1040A & Schedule 1/1040EZ
            Itemized Deductions
            Schedule C
    Computation of Gross Pay
        Withholding Taxes Employee
        Withholding Information Sheet
    Benefits,
    Working Conditions
    Federal Income Tax Internal Revenue Service
    Current Events dealing with Ethics
    Exploring Role of Ethics in Business and Financial Research and summarize 4 articles
    Management Decisions
    Examining All Aspects of Industry
    IRS Graphic 
    Develop Financial Portfolio
        current financial situation
        goal update
        financial strategies to reach goals
        investment choices
            stocks
            real estate
            education
            other
        professional choices
    Culminating Activity & Review
        personal choices
        reference section
            financial calculations
            information sites o glossary
        letter of application
        application form
        resume
    Use review sheet as outline/TOC (Virtual Share/Share/Finance Templates)
    End of Semester Exam
    Exam is scheduled for 8:45 a.m.