Financial Literacy: Grades 9, 10, 11, 12

Assess the role of money in financial literacy

2.0

Standard

Analyze the services financial institutions provide for consumers

3.0

Standard

Demonstrate the ability to use credit as a financial tool

4.0

Standard

Evaluate the use of insurance for risk management

5.0

Standard

Determine the value and risk of investments

6.0

Standard

Determine financial strategies used to meet personal goals

1.1

Performance Indicator

Assess the role and functions of money in the economy

1.2

Performance Indicator

Examine the relationship between income and career choice

1.3

Performance Indicator

Analyze payroll and employment forms

1.4

Performance Indicator

Assess the role of budgeting in meeting financial goals

1.5

Performance Indicator

Assess the impact of interest on borrowing and investing

2.1

Performance Indicator

Evaluate types of financial institutions and services they provide

2.2

Performance Indicator

Investigate concepts of credit abuse, fraud, and protection

3.1

Performance Indicator

Evaluate the use of credit in effective financial management

3.2

Performance Indicator

Assess the impact of using credit cards to manage credit

4.1

Performance Indicator

Understand insurance and risk management concepts

4.2

Performance Indicator

Investigate types of insurance available in the marketplace

5.1

Performance Indicator

Explore investment services offered by a variety of institutions

5.2

Performance Indicator

Evaluate types of investments available in the marketplace

6.1

Performance Indicator

Determine financial strategies used to meet long-term financial goals

6.2

Performance Indicator

Evaluate housing options in relation to achieving financial goals

1.1.1

Research the origins of money and its role in the economy

1.1.2

Investigate the regulatory roles of the U.S. Treasury and the Federal Reserve in establishing monetary policy

1.1.3

Investigate sources of tax revenue and how monies are redistributed

1.1.4

Explain the concept of a "cashless society"

1.2.1

Explore career opportunities in finance and financial planning

1.2.2

Identify job duties, skills and abilities required for careers in finance and financial planning

1.3.1

Identify the components of paychecks

1.3.2

Investigate the individual's responsibility in accurately reporting income

1.4.1

Distinguish between wealth and net worth, comparing and contrasting the two

1.4.2

Use a goal-setting strategy to create personal financial goals

1.4.3

Determine the purpose of and the need for a budget, identifying factors that influence budgeting

1.4.4

Balance a budget, incorporating financial management strategies

1.4.5

Examine factors that influence consumer spending, demonstrating financially-beneficial shopping strategies

1.5.1

Compare the effects of interest rates as applied to saving and loaning money

1.5.2

Examine how consumers are affected by raising and lowering interest rates

1.5.3

Describe concepts relating to simple and compound interest

2.1.1

Distinguish between types of financial institutions and accounts available

2.1.2

Investigate factors to consider when shopping for a financial institution

2.1.3

Research banking services available to consumers

2.1.4

Explore the process for opening different types of accounts

2.2.1

Identify types of fraud and credit abuse

2.2.2

Develop strategies to protect oneself from fraud and identity theft

2.2.3

Assess the need for banking insurance and the role it plays in achieving financial security

3.1.1

Compare and contrast sources of credit, evaluating the products and services of each

3.1.2

Differentiate between types of credit and loans

3.1.3

Calculate the actual costs associated with credit

3.1.4

Examine the credit card and loan application process, including factors related to the credit approval

3.1.5

Evaluate the risks associated with overextending credit and how bankruptcy may affect future financial opportunities

3.2.1

Evaluate the use of credit cards as compared with other types of credit

3.2.2

Investigate the advantages and disadvantages of using credit cards to manage finances

3.2.3

Analyze how credit card use influences credit score

4.1.1

Assess the need for insurance in managing risk

4.1.2

Define the basic terminology of insurance

4.2.1

Analyze auto insurance coverage and factors affecting cost

4.2.2

Evaluate health insurance options

4.2.3

Explore and assess the need for supplemental insurance plans

4.2.4

Assess the need for home-owners and rental insurance

5.1.1

Research institutions involved in investing, including the Securities Exchange Commission (SEC)

5.1.2

Examine the difference between investment providers

5.2.1

Discuss various markets, major indices and types of markets

5.2.2

Describe different types of investments

5.2.3

Research the purpose of stocks and factors that affect the price

5.2.4

Investigate the different types of mutual funds

5.2.5

Explore the different types of bonds including the issuers and factors affecting price

5.2.6

Apply investment strategies including risk and portfolio management

6.1.1

Assess how financial strategies should change with the stages of the individual life cycle

6.1.2

Investigate planning strategies for retirement

6.1.3

Research financial planning for other long term goals

6.1.4

Discuss the importance and purpose of wills

6.2.1

Compare and contrast the actual costs and benefits of renting vs. owning

6.2.2