SS10.7C.9

Social Studies (2010) Grade(s): 7 - 7th Grade: Civics

SS10.7C.9
Apply principles of money management to the preparation of a personal budget that addresses housing, transportation, food, clothing, medical expenses, insurance, checking and savings accounts, loans, investments, credit, and comparison shopping.

Unpacked Content

Knowledge

Students know:

Effective money management means that a citizen has to take into account that the money they make should be enough to cover expenses like housing, transportation, food, clothing, medical expenses, and insurance and this can be accomplished by making and following a budget.

Skills

Students are able to:

Estimate and calculate income and expenses in order to create a budget.

Understanding

Students understand that:

Effective money management includes making a budget based on income and expenses.

Vocabulary

calculate
estimate
principles of money management
budget
savings
checking account
income
expenses
insurance
taxes
comparison
shopping
credit
debt
investments

Aligned Learning Resources

Making Cents: Financial Literacy Videos for Young Learners

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