General Financial Literacy
Educational Links

Strand 5

Students will understand principles of personal money management including budgeting, managing accounts, and the role of credit and impacts on personal finance.

Standard 1

Identify and explain the process of budgeting based on projected income and expenses.

• Budget Breakdown: High School vs. Adult
  Students will analyze monthly household expenses, explain the benefits of using a budget, and create a sample budget.
• Budget Categories
  While completing a digital worksheet, students will describe the purpose of a budget, classify expenses as needs and wants, and explain the difference between gross pay and net pay.
• Budgeting
  Students will create a zero-budget from a projected salary for a career of their choice, practicing the PYF principle and learning realistic costs of living.
• Financial Goals
  Students will learn about SMART financial goals and then complete a worksheet where they will set personal financial goals, both long and short term.

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http://www.uen.org - in partnership with Utah State Board of Education (USBE) and Utah System of Higher Education (USHE).  Send questions or comments to USBE Specialist - Breckon  Heywood and see the Financial Literacy website. For general questions about Utah's Core Standards contact the Director - Jennifer  Throndsen.

These materials have been produced by and for the teachers of the State of Utah. Copies of these materials may be freely reproduced for teacher and classroom use. When distributing these materials, credit should be given to Utah State Board of Education. These materials may not be published, in whole or part, or in any other format, without the written permission of the Utah State Board of Education, 250 East 500 South, PO Box 144200, Salt Lake City, Utah 84114-4200.