# Math (TAG): Personal Financial Literacy

### Suggested Time Frame: 13 Instructional Days

##### Focus TEKS

Review 5th Grade Personal Financial Literacy TEKS

• 5.10A define income tax, payroll tax, sales tax, and property tax (S)
• 5.10B explain the difference between gross income and net income (S)
• 5.10C identify the advantages and disadvantages of different methods of payment, including check, credit card,
• 5.10D develop a system for keeping and using financial records (NT)
• 5.10E describe actions that might be taken to balance a budget when expenses exceed income (S)
• 5.10F balance a simple budget (S)

Introduce 6th Grade Financial Literacy TEKS

• 6.14A compare the features and costs of a checking account and a debit card offered by different local financial institutions (S)
• 6.14B distinguish between debit cards and credit cards (S)
• 6.14C balance a check register that includes deposits, withdrawals, and transfers (S)
• 6.14D explain why it is important to establish a positive credit history
• 6.14E describe the information in a credit report and how long it is retained (S)
• 6.14F describe the value of credit reports to borrowers and to lenders (S)
• 6.14G explain various methods to pay for college, including through savings, grants, scholarships, student loans, and work-study (S)
• 6.14H compare the annual salary of several occupations requiring various levels of post-secondary education or vocational training and calculate the effects of the different annual salaries on lifetime income (S)

Introduce these 7th Grade Financial Literacy TEKS

• 7.13B identify the components of a personal budget, including income; planned savings for college,retirement, and emergencies; taxes; and fixed and variable expenses, and calculate what percentage each category comprises of the total budget (S)
• 7.13C create and organize a financial assets and liabilities record and construct a net worth statement (S)
• 7.13D use a family budget estimator to determine the minimum household budget and average hourly wage needed for a family to meet its basic needs in the student’s city or another large city nearby (S)
##### Computational Fluency TEKS

Integer Operations and Multiplication and Division with Rational Numbers

• 6.3D add, subtract, multiply, and divide integers fluently (R)
• 6.3E multiply and divide positive rational numbers fluently (R)

Equivalent Fractions, Decimals, and Percents

• 6.4G generate equivalent forms of fractions, decimals, and percents using real-world problems, including problems that involve money (R)