Consumer Math – Lifepac Elective

Consumer Mathematics is a life skills course that introduces students to the concept of financial literacy with practical applications to consumer concepts. Many of the math concepts students have studied or are currently studying in core courses will be applied to consumer math scenarios, providing opportunities to apply math concepts to real financial scenarios. Students will learn about practical financial concepts that will prepare them to become smart consumers with responsible spending and saving habits.

 

In this course, students will study:

• Personal financial planning
• Money management
• Financial institutions
• Saving and investing
• Consumer credit basics
• Consumer lending basics
• Smart consumer practices
• Life and health insurance
• Responsibility and financial planning

Upon successfully completing the course, students will be able to:

• Describe components of a financial plan, including establishing a budget.
• Analyze how career choice, education, and skills affect income.
• Set financial goals.
• Describe strategies for spending wisely.
• Compare tools, services, and resources of financial institutions.
• Identify financial risks and strategies to minimize them.
• Describe key features of different types of savings and investment accounts.
• Understand how credit scores are developed.
• Define key financial terms associated with credit cards.
• Understand mortgage lending processes.
• Compare renting vs. buying benefits and disadvantages.
• Recognize their rights as a consumer.
• Recognize options for life and health insurance.
• Identify other types of insurance.
• Use research and evaluation strategies to make financial decisions.