7.13 Personal Financial Literacy

calculate the sales tax for a given purchase and calculate income tax for earned wages

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

create and organize a financial assets and liabilities record and construct a net worth statement

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

calculate and compare simple interest and compound interest earnings

analyze and compare monetary incentives, including sales, rebates, and coupons