Money Management and Credit Skills

This unit develops practical money-management, credit-literacy, and short-term planning skills for teens. Students will practice budgeting and tracking spending, interpret credit reports and loan options, calculate take-home pay and college funding choices, and evaluate financial products and protections to safeguard and grow resources. It builds on introductory financial concepts and prepares learners for longer-term investing and advanced planning in subsequent units.

Learning Objectives

• Analyze personal spending patterns and create a 30-day budget that allocates income among necessities, savings, investments, debt repayment, and discretionary spending, and justify the choice of a budgeting style
• Evaluate credit health by interpreting credit reports and scores, identifying inaccuracies, comparing specific loan terms, and designing a prioritized debt-repayment plan to reduce interest costs
• Apply knowledge of income and education planning by calculating take-home pay after mandatory payroll deductions, distinguishing taxable versus non-taxable income, and comparing college funding options (FAFSA, work-study, loans, and gap-year considerations)
• Demonstrate the ability to protect and grow personal finances by comparing financial institutions and brokerage accounts, selecting appropriate basic life-insurance and account types, recognizing common online scams, and implementing secure digital-access practices