Foundations of Personal Finance

This unit introduces foundational personal financial literacy concepts—budgeting, expense tracking, savings, emergency funds, net worth calculations, and consumer protection—to develop day-to-day money management skills. Students will practice practical calculations and use financial technology tools to build responsible habits that prepare them for deeper study of credit, investing, and long-term planning in subsequent units.

Learning Objectives

• Analyze personal spending patterns by categorizing and summarizing an expense log to identify fixed versus discretionary expenses and calculate totals per category
• Apply budgeting techniques to create a balanced monthly budget that allocates income to expenses, savings goals, and an emergency fund, showing calculations for each allocation
• Demonstrate proficiency in key financial computations by calculating a personal savings rate and net worth from provided data and interpreting the implications for short-term financial health
• Evaluate common consumer risks and money mistakes and recommend at least three preventive strategies and two digital tools or automated features to reduce risk and improve financial outcomes