Introduction to Personal Finance

Course Duration: Full Year

Category: Electives, History/Social Studies, Middle School

Assessment: Pre-Test, Lesson Practice, Unit Exams, Mid-Term Exam, Final Exam

Language: English

Course Overview

From Financial Responsibility, to career and income planning, to basic economics and entrepreneurship, Introduction to Personal Finance is designed to prepare students for a successful life by teaching mindfulness and responsibility with finances. Course topics include:

Personal Financial Responsibility
Economic Fundamentals
Income and Careers
Planning and Money Management
Credit and Debt
Risk Management and Insurance
Saving and Investing
Entrepreneurship
Governmental Economics

Acellus Introduction to Personal Finance is taught by Acellus Instructor Mark Rogers. Some schools utilize this curriculum at the 6th-8th grade levels.

This course was developed by the International Academy of Science. Learn More

Scope and Sequence

Unit 1 - Personal Financial ResponsibilityIn this unit students learn about personal financial responsibility. They discuss what it's like when "you're the CEO," and go on to understand how to develop a continuous financial learning process. They learn about consumer protection, about creating a personal board of directors, about controlling and protecting personal information, about fraud, and about caveat emptor.Unit 2 - Economic FundamentalsIn this unit students study resources and wants, opportunity cost, value-based criteria, and cost-benefit analysis. They investigate incentives, consequences, productivity, wages, and acquiring goods and services.Unit 3 - Income and CareersIn this unit students discuss education and earning power, matching skill sets, how important it is to love what you do, and career options. They come to understand differing sources of income, calculating net-income, taxes, federal tax, state tax, social security tax, medicare tax, sales tax, property tax, and investment tax.Unit 4 - Planning and Money ManagementIn this unit students gain understaning of goal setting, fixed versus variable expenses, cash flow, living within your means, and planning to save. They learn about keeping records, checking accounts, savings accounts, payment methods, credit cards (payments), debit cards, cash, checks, wire transfers, money orders, purchasing decisions, and charitable giving.Unit 5 - Credit and DebtIn this unit students learn about debt instruments, interest and principal, the power of continuous compounding, and mortgages. They study credit card debt, car loans, student loans, small business loans, payday loans, income tax refund loans, and cash advance loans. They investigate credit score, establishing good credit, correcting debt problems, and consumer credit laws.Unit 6 - Risk Management and InsuranceIn this unit, student study risks to finances, making a will, and warranties. They also learn about property insurance, car insurance, life insurance, health insurance, and disability insurance.Unit 7 - Saving and InvestingIn this unit students gain understanding of saving and delayed gratification, bonds, stocks, bonds versus stocks, percent change, mutual funds, and index funds. They explore traditional IRA, the Roth IRA, buying and selling investments, continuous compounding on savings, the Rule of 72, interest rates as friend and foe, equity versus debt, taxation on investments, and regulations to protect investors.Unit 8 - EntrepreneurshipIn this unit students learn about starting a business, industry, competitors, differentiation, and marketing. They also investigate location, finances, and customers.Unit 9 - Governmental EconomicsIn this unit students study governmental economics. They learn about sovereign economy, money and inflation, and unemployment. They explore interest rate fluctuation, and supply and demand.