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  • PRDV011: Financial Literacy
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    COURSE INTRODUCTION
    Course Syllabus
    Unit 1: Establishing Financial Goals
    Unit 1 Learning Objectives
    1.1: Setting Short-, Medium-, and Long-Term Financial Goals
    Financial Goals
    Personal Financial Planning
    Creating Clear Financial Goals
    1.2: Creating SMART Financial Goals
    SMART Goals
    1.3: Lifestyle Choices and Money Personalities
    Money Personalities
    Unit 2: Budgeting and Saving
    Unit 2 Learning Objectives
    2.1: Building a Budget
    Personal Budgeting
    More on Personal Budgeting
    The Budget Process
    Google Sheets Preformatted Budget
    2.2: Preparing a Budget Analysis
    Creating a Comprehensive Budget
    2.3: Saving Money
    Making Your Savings Decisions
    2.4: Banking and Emergency Funds
    Create an Emergency Fund
    Banking and Emergency Funds
    2.5: Savings and Inflation
    Inflation vs Deflation
    Unit 3: Credit Cards and Consumer Borrowing
    Unit 3 Learning Objectives
    3.1: Your Credit Score
    A Tale of Two Credit Scores
    What is a Credit Score, and How is it Calculated?
    How to Build Your Credit Card Score
    3.2: Credit Cards
    Using Credit Cards Wisely
    Schumer Boxes and Credit Card Terms
    Which Credit Card Is Better for You?
    Credit Cards: The Good and the Bad
    How to Use a Credit Card Wisely
    3.3: Debit Cards
    Debit vs Credit Cards
    3.4: Other Payment Methods
    Electronic and Mobile Payments
    3.5: Risks and Benefits of Credit Products
    How Do Loans Affect Credit Score
    Successful Debt Relief and Money Management
    Business vs Personal Credit Cards
    Unit 4: Loans and Debt
    Unit 4 Learning Objectives
    4.1: Borrowing Money
    Borrowing Money
    How Do I Get a Loan?
    Making Borrowing Decisions
    4.2: Terms of Borrowing
    What Is APR, and Why Does It Matter?
    4.3: Types of Loans: Installment vs. Revolving Credit
    Revolving vs Installment Credit
    Installment Loans
    Credit Trouble and Protections
    4.4: Interest Rates and Loan Repayment
    Inflation and Investing
    4.5: Predatory Lending, Bias, and Redlining
    Predatory Lending
    Payday Loans
    Redlining
    4.6: Microfinance
    What is Microfinance?
    4.7: Personal Bankruptcy
    Bankruptcy
    Personal Bankruptcy: Chapters 7 and 13
    Unit 5: Insurance
    Unit 5 Learning Objectives
    5.1: Insurance Basics
    Introduction to Insurance
    Insurance
    How to File an Insurance Claim
    5.2: Managing Risk
    Types of Financial Risk
    Risk Management
    5.3: Property Insurance
    Property Insurance
    5.4: Health, Disability, and Life Insurance
    Types of Health Insurance Plans
    Insuring Your Health
    Unit 6: Investing and Retirement
    Unit 6 Learning Objectives
    6.1: Saving and Investing
    Saving and Investing
    Why Save and Invest?
    Financial Institutions and Markets
    More on Financial Institutions and Markets
    6.2: Risk and Return on Investment
    What is Risk and Return?
    Measuring Return and Risk
    Stocks, Bonds, Mutual Funds, and Insurance
    Mutual Funds
    Bonds
    How Expert Are Expert Stock Pickers?
    Can You Beat the Market?
    Why Diversify?
    6.3: Planning for Retirement
    Saving for Retirement
    Projecting Retirement Needs
    Pension Benefits and Retirement Timing
    6.4: Life-Cycle Investing
    The Financial Planning Life Cycle
    Life Cycle Investing
    6.5: Estate Planning
    Estate Planning
    The Importance of Estate Planning
    Advance Directives for Healthcare
    Unit 7: Taxes and Tax Forms
    Unit 7 Learning Objectives
    7.1: Introduction to Taxes
    Taxes
    Sources and Kinds of Taxes
    Different Forms of Taxation
    Tax Evasion vs.Tax Avoidance
    Why Do People Pay Taxes?
    7.2: Tax Forms
    Tax Forms
    Tax Form Terminology
    Tax and National Insurance
    The U.S. Federal Income Tax Process
    Record Keeping, Preparation, and Filing
    Unit 8: Careers and Education
    Unit 8 Learning Objectives
    8.1: Education and Earnings
    Choosing a Job
    Education as an Investment
    Transforming Education, Skills and Lifelong Learning
    8.2: Costs of Higher Education and Training
    The Costs of Education
    Education Debt: Paying for College
    Free College Explained in a Global Context
    Unit 9: Scams and Fraud
    Unit 9 Learning Objectives
    9.1: Common Scams
    Personally Identifiable Information (PII)
    Common Scams and Frauds
    Securing Your Identity and Accounts
    Preventing Identity Theft
    Online Banking and Identity Theft
    Ponzi Schemes
    Pyramid Schemes
    9.2: Consumer Protection Agencies
    Consumer Protection
    How to File a Consumer Complaint
    Consumer Protection Laws Across Countries
    Gender and Consumer Protection
    Unit 10: Future Trends in Global Finance
    Unit 10 Learning Objectives
    10.1: Technology in Finance
    Financial Inclusion Beyond Access
    FinTech Risks and Opportunities
    Fintech and Commercial Banking
    10.2: Sustainable Finance
    ESG and Sustainable Investing
    Sustainable Finance in India
    Building a Sustainable Finance Ecosystem in Thailand
    Course Feedback Survey
    Course Feedback Survey
    Certificate Final Exam
    PRDV011: Certificate Final Exam
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  1. PRDV011: Financial Literacy
  2. Unit 7: Taxes and Tax Forms
  3. 7.1: Introduction to Taxes
  4. Taxes

Taxes

Completion requirements
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Watch these three videos for an overview of income and sales taxes and how we pay them.

 

 

 

Source: Khan Academy, https://youtu.be/L8zPRF3JsE4?si=ITfiSy0QTooGi7nt, https://youtu.be/ZB7jJCdfQX8?si=TAUsHnBKF9UnPbCq, https://youtu.be/gnjGfQU6FlI?si=ruU2URZNE8ltf6Rp
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License.

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Saylor Academy © 2010-2025 except as otherwise noted. Excluding course final exams, content authored by Saylor Academy is available under a Creative Commons Attribution 3.0 Unported license. Third-party materials are the copyright of their respective owners and shared under various licenses. See detailed licensing information. Saylor Academy®, Saylor.org®, and Harnessing Technology to Make Education Free® are trade names of the Constitution Foundation, a 501(c)(3) organization through which our educational activities are conducted.