Financial Literacy: Grades 6, 7, 8

Model the process of financial planning based on personal prioritization of wants and needs.

Create an effective spending plan using informed decision-making skills.

Recognize appropriate uses of credit and its impact on an individual's financial security.

Evaluate various risks to personal identity and create a plan for ongoing protection.

Evaluate possible options for investing as a means to attain one's goals.

Demonstrate ethical financial decision making skills and assess how these decisions might impact the broader community.

Develop short-term and long-term financial goals.

Understanding needs vs. wants.

Develop a realistic spending plan for financial independence.

Understand various sources of compensation.

Understand the distribution of resources.

Understand financial instruments.

Identify responsible credit management.

Understand different types of debt.

Understand rights and responsibilities as borrowers.

Establish strategies for protection of identity.

Recognize different types of insurance.

Recognize different types of non-insurance protection.

Recognize investment options.

Distinguish investment options.

Understand the relationship between investment risk and return.

Recognize the local, state, national, and international impact of personal financial habits and actions.

Define the steps in the goal-setting process.

Explain the relationship between goal setting and achievement.

Create goals according to a prioritization of wants and needs that are specific, realistic, and measurable.

Identify expenditures as needs or wants.

Describe persuasive strategies used by peers, media, and businesses to influence society (in decision making).

Describe the concept of a spending plan.

Explain the advantage of spending less than you have.

Explain the short- and long-term consequences of over spending.

Recognize the impact of global issues on financial planning.

Describe potential sources of income for middle school students.

Identify factors to consider when analyzing different methods of compensation.

Explain how income can affect goals.

Explain factors that impact savings and spending plans.

Describe expenses that employees might have.

Identify possible financial accounts.

Recognize that fees or charges may be attached to accounts.

Recognize the importance of keeping accurate records.

Identify the various types of credit card companies available and the features of each (interest rates, annual fees, limits, reward system).

Explain appropriate and inappropriate use of credit cards.

Explain how use of credit cards can help or hurt a budget.

Identify the types of purchases that generally require a loan.

Demonstrate the ability to calculate the cost of borrowing money.

Explain that a borrower needs to have assets to use as security for a loan.

Explain an individual's rights and responsibilities as a consumer.

Explain the concept of a credit rating.

Recognize that a personal identity needs to be protected.

Recognize the impact of technology on personal security.

Explain why an individual needs various types insurance.

Identify factors to consider when deciding the type of and amount of insurance.

Identify types of documents that can serve as legal protection.

Explain the potential hazards of inappropriate or missing documentation.

Explain how saving is needed for investing.

Explain the relationship between investing and potential entrepreneurship goals.

Explain the difference between saving and investing.

Explain various options for investing money.

Understand the effect of interest and percentage rates on investments.

Explain how an investment differs from a savings account in potential risks and return.

Explain the importance of a personal budget and goals in the investing process.

Realize that financial habits and actions have broad impact beyond the local community.

Demonstrate responsible financial behaviors, at the personal, local, state, national, and international levels.

Identify the factors that impact the production of goods and services beyond the local area.

Identify the importance of legal and ethical actions in financial behaviors.

Explain how unethical behavior negatively impacts the broader community.

Explain the importance of ethical behavior in building trust.