IV Budget and Personal Money Management

TEA Units of Study: TEKS "Knowledge and skills" subsections covered:

A. Building a budget

  • (5) The student recognizes the impact of career choice on personal lifestyle.
    • (A) prepare a personal budget reflecting the student’s desired lifestyle
    • (B) use appropriate resources to compare and contrast salaries and educational requirements of at least three careers in the student’s interest area
    • (C) evaluate at least three career interests based on budget and salary expectations
  • (1) The student explores personal interests and aptitudes as they relate to education and career planning.
    • (F) explore how career choices impact the balance between personal and professional responsibilities
  • (2) The student analyzes personal interests and aptitudes regarding education and career planning.
    • (C) develop and analyze tables, charts, and graphs related to career interests

B. Lifestyle goals

  • (5) The student recognizes the impact of career choice on personal lifestyle.
    • (A) prepare a personal budget reflecting the student’s desired lifestyle
  • (1) The student explores personal interests and aptitudes as they relate to education and career planning.
    • (F) explore how career choices impact the balance between personal and professional responsibilities

C. Alternative career options (“Plan B”)

  • (1) The student explores personal interests and aptitudes as they relate to education and career planning.
    • (F) explore how career choices impact the balance between personal and professional responsibilities
  • (5) The student recognizes the impact of career choice on personal lifestyle.
    • (B) use appropriate resources to compare and contrast salaries and educational requirements of at least three careers in the student’s interest area
    • (C) evaluate at least three career interests based on budget and salary expectations

D. Banking options 1. Savings 2. Checking 3. Money market savings 4. 401K 5. College savings

  • (6) The student demonstrates an understanding of personal financial management.
    • (A) compare the advantages and disadvantages of different types of banking services
    • (B) simulate opening and maintaining different types of bank
    • (C) simulate different methods of withdrawals and deposits
    • (D) reconcile bank statements, including fees and services
  • (3) The student analyzes college and career opportunities.
    • (C) develop an awareness of financial aid, scholarships, and other sources of income to support postsecondary education

E. Balancing a checkbook

  • (6) The student demonstrates an understanding of personal financial management.
    • (C) simulate different methods of withdrawals and deposits
    • (D) reconcile bank statements, including fees and services

F. Credit cards

  • (6) The student demonstrates an understanding of personal financial management.
    • (A) compare the advantages and disadvantages of different types of banking services
    • (B) simulate opening and maintaining different types of bank accounts

G. Retirement savings

  • (6) The student demonstrates an accounts understanding of personal financial management.
    • (A) compare the advantages and disadvantages of different types of banking services

Resources:

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