Georgia standard · Social Studies

`SSPFL2`Budgeting and Financial Review

Describe how budgeting and actively reviewing finances can be used to allocate scarce income.

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Expectations

SSPFL2.a
Explain the importance of setting short-term, medium-term, and long-term savings goals.
SSPFL2.b
Differentiate between needs and wants.
SSPFL2.c
Analyze the basic components of a personal budget including income, expenses, and savings.
SSPFL2.d
Explain how to reconcile a checking account, either online or on paper, including how to account for transactions that have not been posted (i.e. checks or weekend debit card transactions).
SSPFL2.e
Describe overdraft fees including why they are assessed and how to avoid them.
SSPFL2.f
Explain the concept of net worth.

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