| Steven M. Reff Economics Lecturer University of Arizona (2007 - 2016) The 2015 University of Arizona Five-Star Faculty Award |
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| Week 6: Financial Literacy |
| Estimated Learning Time: 4 to 5 class periods (45 min. each) |
| Standard 6: Financial Literacy -- Purchasing a Car |
| "Learning how to purchase a car is frequently part of modern high school economics and personal finance curricula . . . Lessons often include projects where students research cars, calculate monthly payments based on a hypothetical budget, and analyze the long-term affordability of a vehicle." Ask Google AI 4 |
| "In this world, nothing is certain other than death and taxes." --Benjamin Franklin- "If you are looking for current tax guidance, most high school students with simple income now use the standard Form 1040, which functions similarly to the old EZ form for basic situations. You can find the latest interactive lessons on the Reffonomics Financial Literacy page or current filing instructions directly from the IRS Forms and Instructions portal." Ask Google AI 6 |
| "Annual CPI Inflation Rates (Percent Change, Dec-to-Dec or Annual Avg): 2020: 1.2% - 1.4% 2021: 4.7% - 7.0% 2022: 8.0% 2023: 3.35% - 4.1% 2024: 2.9% - 2.95%" Ask Google AI 8 |
| Standard 6: Financial Literacy -- Filling Out Your 1040 Form |
| Standard 6: Financial Literacy -- Planning for College |
NOTE: This lesson on Federal Income Taxes using tax Form 1040 will look complicated, but since
you are a high school student probably making lesson than $89,000 a year, you will
only have to fill out a few lines on this lengthy form.
you are a high school student probably making lesson than $89,000 a year, you will
only have to fill out a few lines on this lengthy form.
You might have to minimize your screen on your laptop to 80%
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| "A traditional high school economics course, often combined with personal finance, teaches students to treat planning for college as a major, long-term financial investment and a significant consumer decision. The focus is on applying economic principles to maximize return on investment (ROI) while minimizing costs. " Ask Google AI 7 |
The lesson below, Planning for College, was written in 2021 and might include a broken link
or two. Some of the links have information dating back to various years as shown above inside
the Annual CPI Inflation Rates (2020 - 2024). Keep that as a thought as you plug in information
into the Planning for College Calculator.
or two. Some of the links have information dating back to various years as shown above inside
the Annual CPI Inflation Rates (2020 - 2024). Keep that as a thought as you plug in information
into the Planning for College Calculator.
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| Standard 6: Financial Literacy -- Purchasing Insurance |
| "In a traditional 2026 high school economics or personal finance course, students should be taught about five primary types of insurance they will likely purchase as young adults: Auto, Health, Renters/Homeowners, Life, and Disability. These coverages are central to a comprehensive risk-management curriculum." Ask Google AI 5 |
NOTE: If you are a working high school student who receives income from your job, you can file
your FEDERAL income taxes for "Free" at one of the Internal Revenue Service 8 Trusted Partners.
This is an IRS website: https://apps.irs.gov/app/freeFile/browse-all-offers/ Make sure you read
the directions and fine print carefully.
your FEDERAL income taxes for "Free" at one of the Internal Revenue Service 8 Trusted Partners.
This is an IRS website: https://apps.irs.gov/app/freeFile/browse-all-offers/ Make sure you read
the directions and fine print carefully.