Ch 49: OAE Middle Grades Social Studies: Personal Finance

About This Chapter

Use this study guide chapter for the OAE Middle Grades Social Studies exam to learn about the various elements of personal finance. Comprehensive video lessons and brief quizzes make this subject easy to understand.

OAE Middle Grades Social Studies: Personal Finance - Chapter Summary

Basic knowledge of personal finance management is a necessary life skill. Use the information in this chapter to navigate personal finance concepts as preparation for the exam and to gain insight on teaching this crucial skill to your students. Topics covered in this chapter's informative video lessons include:

  • Decision making in personal finance
  • Creating a personal budget
  • Utilization of credit and debt, including pros and cons of loans
  • Evaluating purchasing habits to determine credit worthiness
  • Examining economic investments vs. personal investment
  • Retirement income sources

Through the engaging video lessons presented in this chapter, you will gain personal insight into the factors that contribute to effective personal finance management. Armed with this information, you can successfully teach these concepts to your students, who will greatly benefit from learning these skills early. Practice what you've learned from the lessons by taking the lesson quizzes and chapter exam so you are thoroughly prepared for this portion of the OAE Middle Grades Social Studies exam.

OAE Middle Grades Social Studies: Personal Finance Chapter Objectives

The Ohio Assessments for Educators (OAE) Middle Grades Social Studies exam is a computer-based exam, with 150 multiple-choice questions that measure a potential educator's knowledge-level and teaching abilities in the social studies content area. There are four domains tested in this exam that cover the state teaching objectives for history, geography and culture, government and economics. The personal finance objective is found in the Economics domain, which is 12% of the total exam questions.

While personal finance may seem like a common-sense concept, understanding the basic principles that contribute to successful personal finance management typically takes more than just trial and error. Use this study guide chapter to gain the necessary comprehension on personal finance to prepare for the OAE Middle Grades Social Studies exam and effectively teach these essential skills to your students.

7 Lessons in Chapter 49: OAE Middle Grades Social Studies: Personal Finance
Test your knowledge with a 30-question chapter practice test
Introduction to Personal Finance

1. Introduction to Personal Finance

While not all of us aspire to careers as accountants, a lack of interest in or understanding of basic financial concepts could cost you money. In this lesson, we'll examine four concepts associated with personal finance that will help you keep track of your money and may even help you build wealth.

How to Create a Personal Budget: Tools & Examples

2. How to Create a Personal Budget: Tools & Examples

Creating a personal budget doesn't have to be overwhelming or discouraging. There are four basic steps to create an effective budget. This lesson will walk you through the steps to create a solid budget.

Credit & Debt in Personal Finance

3. Credit & Debt in Personal Finance

Credit and debt are the foundation of any form of finance. This lesson highlights the pros and cons of credit and debt as they pertain to personal finance.

What is a Loan? - Definition, Types, Advantages & Disadvantages

4. What is a Loan? - Definition, Types, Advantages & Disadvantages

Learn what a loan is and some of the most common types of loans that people get. Find out which loans are best for different situations and some of the advantages and disadvantages of getting a loan.

Factors That Affect Credit Worthiness

5. Factors That Affect Credit Worthiness

Access to credit to pay for education, a house, a car or other items is an important part of managing personal finances. In this lesson, you'll learn what factors lenders consider when deciding whether to loan someone money and what interest rate they will charge.

Investment vs. Investments in Economics

6. Investment vs. Investments in Economics

Discover the important difference between investment in economics and investments that individuals make by saving out of their income. This lesson defines and outlines the basic components of gross private domestic investment.

Sources of Income in Retirement

7. Sources of Income in Retirement

In this lesson, learn several key ways that older adults pay their bills after retiring from work. You'll see how people can have different experiences in funding their retirement.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the Ohio Assessments for Educators - Middle Grades Social Studies (031): Practice & Study Guide course

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