South Carolina

M Money Management

• Standards

  • Standard 1 Calculating Independent Living Costs.

    • Add and subtract money amounts: word problems (6-H.3)
    • Add, subtract, multiply, and divide money amounts: word problems (7-P.1)

• Competency Goals

  • 1 Learn how spending, saving, and values impact finances.

    • Identify fixed and variable expenses (4-OO.1)

  • 2 Set financial goals.

    • Paying for college (6-LL.5)

  • 3 Apply strategies to assist with spending decisions.

    • Reading financial records (5-VV.9)
    • Keeping financial records (7)

  • 4 Create a spending plan.

    • Budget a weekly allowance: word problems (4-OO.4)
    • Balance a budget (7)

  • 5 Maintain a positive cash flow.

    • Adjust a budget (7)

  • 6 Discuss what a contract is and different types of contracts that students may encounter.

C Credit

• Standards

  • Standard 1 Understanding Credit.

    • Debit cards and credit cards (8)
    • Credit reports (6-LL.4)

• Competency Goals

  • 1 Weigh the benefits and risks of borrowing.

    • Identify advantages and disadvantages of payment methods (8)

  • 2 Compare the costs and terms.

    • Evaluate payment methods (5-VV.8)
    • Debit cards and credit cards (8)

  • 3 Explain how to establish a good credit rating.

    • Credit reports (6-LL.4)

  • 4 Examine the rights and responsibilities of borrowers and lenders.

  • 5 Demonstrate how to protect oneself from identity fraud.

EP Earning Power

• Standards

  • Standard 1 Careers and Income.

    • Occupations, education, and income (6-LL.6)

• Competency Goals

  • 1 Explore the payoffs of investing in yourself.

    • Calculate profit: word problems (4-OO.2)

  • 2 Measure the value of employee benefits.

  • 3 Understand factors that impact personal tax liability and take home pay.

    • Income and payroll taxes: understanding pay stubs (5-VV.1)
    • Income and payroll taxes: word problems (5-VV.2)
    • Understand gross and net income (5-VV.5)
    • Calculate gross and net income (5-VV.6)

  • 4 Achieving your lifestyle and financial goals.

    • Occupations, education, and income (6-LL.6)

  • 5 How to deal with life and work changes.

SI Savings and Investing

• Standards

  • Standard 1 Budgeting and Financial Planning.

    • Budget a weekly allowance: word problems (4-OO.4)
    • Reading financial records (5-VV.9)
    • Keeping financial records (7)
    • Balance a budget (7)
    • Adjust a budget (7)

  • Standard 2 Managing Savings and Checking Accounts.

    • Compare savings options (4-OO.3)
    • Simple interest (A1)

• Competency Goals

  • 1 Explore how saving and investing can be used to build wealth.

    • Compare savings options (4-OO.3)
    • Simple interest (A1)

  • 2 Explore how investing works.

  • 3 Explore the risks and rewards of several types of investments.

  • 4 Outline strategies to achieve investing goals.

  • 5 Outline a long range investment game plan.

FS Financial Services

• Standards

  • Standard 1 Financial Responsibility and Decision Making.

  • Standard 2 Managing Savings and Checking Accounts.

    • Compare savings options (4-OO.3)
    • Compare checking accounts (6-LL.1)

• Competency Goals

  • 1 Explain how services are used to handle business transaction.

    • Financial institution vocabulary (4-OO.5)

  • 2 Select banking tools and technology to handle personal business transactions.

    • Compare checking accounts (6-LL.1)

  • 3 Protect your personal account information.

  • 4 Select a financial service provider.

  • 5 Demonstrate how to manage spending and banking transactions.

    • Check registers (6-LL.2)

I Insurance

• Standards

  • Standard 1 Understanding Insurance.

• Competency Goals

  • 1 Justify reasons to be insured.

  • 2 Investigate how insurance works.

  • 3 Choose insurance for specific needs and situations.

  • 4 Compare auto insurance options.

  • 5 Plan ahead to minimize insurance costs and costs of unexpected events.

T Taxes

• Standards

  • Standard 1 Personal Taxes.

    • Income and payroll taxes: understanding pay stubs (5-VV.1)
    • Sales and property taxes: word problems (5-VV.3)

  • Standard 2 Preparing Tax Returns.

• Competency Goals

  • 1 Identify and explain purpose of taxes including vocabulary used with tax forms, types of taxes, assessment of taxes.

    • Identify types of taxes (7)

  • 2 Understand withholding forms, federal and state income tax forms.

    • Income and payroll taxes: understanding pay stubs (5-VV.1)

  • 3 Understand taxes specific to the geographical area, deadlines, and penalties.

    • Sales and property taxes: word problems (5-VV.3)