Standard set
Personal and Family Finance: High School Personal Finance (2020)
Standards
Showing 54 of 54 standards.
PF1
Recognize Consumer Roles, Rights, and Responsibilities
PF2
Identify and Research Careers in Personal and Family Finance
PF3
Develop Money Management Skills
PF4
Examine Principles of Saving and Investing
PF5
Understand Aspects of Credit and Debt
PF6
Explain Aspects and Connections of Domestic and Foreign (Global) Economics
PF1.1
Participate in a process of values and clarification.
PF1.2
Distinguish between and define personal needs and wants.
PF1.3
Establish clear financial and/or lifestyle goals.
PF1.4
Understand and identify rights and responsibilities concerning: consumers, workers, citizens, and government.
PF1.5
Determine conditions of dishonesty concerning fraud, identity theft, and deception and demonstrate conditions of self-protection against such.
PF1.6
Understand the process and effective use of consumer complaints and venues of consumer protection.
PF2.1
Complete an interest inventory to identify personal strengths
PF2.2
Explore conditions necessary to succeed on the job.
PF2.3
Develop employability skills: job application, resumes, and interview preparation.
PF3.1
Define and understand concepts and issues relating to the economy and the consumer.
PF3.2
Utilize resources and goals in financial planning.
PF3.3
Understand and evaluate money management systems.
PF4.1
Interpret basics of savings and investing procedures
PF4.2
Identify and explore savings options such as savings accounts, CDs, at home, etc.
PF4.3
Identify and explore investment options such as bonds, socks, real estate, mutual funds, etc.
PF5.1
Determine the advantages and disadvantages of credit and debt.
PF5.2
Understand how to develop and utilize a credit report.
PF5.3
Identify credit bureaus, and how to successfully build credit.
PF5.4
Examine loan applications: student loans, cars, mortgages, and payday loans.
PF5.5
Analyze concepts of debt management: consolidation, bankruptcy, etc.
PF6.1
Identify economic systems.
PF6.2
Compare economic systems.
PF6.3
Explain government’s role in economic systems.
PF6.4
Determine principles of taxes.
PF6.5
Identify and explain business cycles.
PF6.6
Characterize trade between nations.
PF6.7
Explain determination of the National Debt.
PF6.8
Determine aspects of unemployment.
PF1.5.1
Understand terms and actions concerning labeling, truth in advertising, “buyer beware”, and other potentially deceptive issues.
PF1.5.2
Identify potentially problematic technological conditions such as internet website security issues
PF1.6.1
Demonstrate use of Consumer Reports.
PF2.2.1
Examine the rights of workers.
PF3.1.1
Identify life span economic needs including unexpected expenses, family decisions, accidents, taxes (property, sales, FICA, state, federal) including record keeping
PF3.1.2
Utilize cost versus benefits analysis as a resource for making buying decisions.
PF3.1.3
Identify individual money personality.
PF3.2.1
Establish a spending plan
PF3.2.2
Determine costs of setting up a household.
PF3.2.3
Understand concepts of risk management (insurance).
PF3.3.1
Understand and evaluate banking.
PF3.3.2
Demonstrate understanding of online banking and bill paying.
PF3.3.3
Identify terms associated with a paycheck: paystub, net vs. gross, deductions.
PF4.1.1
Identify types of interest-earning accounts.
PF4.1.2
Understand terms such as portfolio, risk, return, shareholders, stock exchange, and commodities.
PF4.2.1
Develop a strategy to pay-yourself-first (PYF) and identify the 10-10-80 or 10-10-70 plan of saving/spending.
PF4.2.2
Understand concepts and terms related to interest-earning: rule of 72, compound, future value vs. current value, etc.
PF4.3.1
Identify options of IRA and 401k plans.
PF5.1.1
Characterize bank services and other credit-bearing institutions.
PF5.1.2
Determine interest rates and other costs of credit.