Grades 9, 10, 11, 12

Spending and Saving

Credit and Debt

Employment and Income

Investing

Risk Management and Insurance

Financial Decision Making

Apply strategies to monitor income and expenses, plan for spending and save for future goals.

Develop strategies to control and manage credit and debt.

Use a career plan to develop personal income potential.

Implement a diversified investment strategy that is compatible with personal financial goals.

Apply appropriate and cost-effective risk management strategies.

Apply reliable information and systematic decision making to personal financial decisions.

Develop a plan for spending and saving.

Develop a system for keeping and using financial records.

Describe how to use different payment methods.

Apply consumer skills to spending and saving decisions.

Analyze the costs and benefits of various types of credit.

Summarize a borrower's rights and responsibilities related to credit reports.

Apply strategies to avoid or correct debt management problems.

Summarize major consumer credit laws.

Explore job and career options.

Compare sources of personal income and compensation.

Analyze factors that affect net income.

Explain how investing may build wealth and help meet financial goals.

Evaluate investment alternatives.

Demonstrate how to buy and sell investments.

Investigate how agencies protect investors and regulate financial markets and products.

Identify common types of risks and basic risk management methods.

Justify reasons to use property and liability insurance.

Justify reasons to use health, disability, long-term care and life insurance.

Recognize the responsibilities associated with personal financial decisions.

Use reliable resources when making financial decisions.

Summarize major consumer protection laws.

Make criterion-based financial decisions by systematically considering alternatives and consequences.

Apply communication strategies when discussing financial issues.

Analyze the requirements of contractual obligations.

Control personal information.

Use a personal financial plan.

Use a plan to manage spending and achieve financial goals.

Specify how monetary and non-monetary assets can contribute to net worth.

Analyze how changes in life circumstances can affect a personal spending plan.

Investigate changes in personal spending behavior that contribute to wealth building.

Determine how charitable giving fits into a spending plan.

Investigate account management services that financial institutions provide.

Differentiate between an expense that is tax deductible and one that is not.

Devise a system to retain evidence of tax-deductible expenditures.

Investigate the records required to claim possible tax credits.

Summarize the risks and protections of checks, stored value cards, debit cards, gift cards and online and mobile payment systems.

Compare the features and costs of personal checking accounts offered by different financial institutions.

Compare the features and costs of online and mobile bill payment services offered by different institutions.

Compare the costs of cashing a check with various third parties, such as a bank or credit union, check-cashing services and retail outlets.

Demonstrate how to schedule and manage bill payments.

Write a check.

Reconcile a checking account.

Explain how to verify printed and online account statements for accuracy.

Demonstrate how to use comparison shopping skills to buy and finance a car.

Compare the advantages and disadvantages of owning a house versus renting.

Research the average costs of all expenses associated with a four-year college education, a wedding and a new versus used car.

Evaluate specific charities based on purpose, management, outcomes or results and reputation.

Compare the cost of borrowing $1,000 by means of different consumer credit options.

Explain how credit card grace periods, methods of interest calculation and fees affect borrowing costs.

Categorize the types of information needed when applying for credit.

Compare the total cost of reducing a credit card balance to zero with minimum versus above-minimum payments, all other terms being equal and no further purchases being made.

Decide the most cost-effective option for paying for a car.

Differentiate among various types of student loans and alternatives as a means of paying for post-secondary education.

Predict the potential consequences of deferred payment of student loans.

Differentiate between adjustable- and fixed-rate mortgages.

Explain the effect of debt on a person's net worth.

Explain how business owners use debt as leverage.

Summarize online information about the Fair Credit Reporting Act.

Explain the value of credit reports to borrowers and to lenders.

Give examples of permissible uses of a credit report other than granting credit.

Identify the primary organizations that maintain and provide consumer credit records.

Categorize the information in a credit report and how long it is retained.

Explain the rights that people have to examine their credit reports.

Investigate ways that a negative credit report can affect a consumer's financial options.

Outline the process of disputing inaccurate credit report data.

Summarize factors that affect a particular credit scoring system.

Analyze how a credit score affects creditworthiness and the cost of credit.

Develop a personal financial plan to manage debt, including working directly with lenders.

Examine the types of services that consumer credit counseling agencies offer.

Investigate the purpose of bankruptcy and its possible negative effects on assets, employability and credit cost and availability.

Investigate how student loan obligations differ from other kinds of debt.

Research a financial institution's debt reduction services.

Summarize online information about the Equal Credit Opportunity Act.

Research online information about consumer credit rights available from the Federal Trade Commission.

Give examples of how the Consumer Financial Protection Bureau (CFPB) protects borrowers and provides information about credit issues.

Research state agencies with responsibility for consumer protection.

Describe debtors' and creditors' rights related to wage garnishment and repossession when an overdue debt is not paid.

Give examples of legal and illegal debt collection practices covered by the Fair Debt Collection Practices Act.

Analyze how economic and other conditions can affect income and career opportunities and the need for lifelong training and education.

Discuss how non-income factors such as child-care options, cost of living and work conditions can influence job choice.

Outline a career plan that aligns with personal interests, financial goals and desired lifestyle.

Develop a résumé and cover letter for a specific job of interest.

Describe the risks, costs and rewards of starting a business.

Outline the main components of a business plan.

Give examples of employee benefits and explain why they are forms of compensation.

Differentiate between required employer contributions and additional benefits that an employer might offer.

Analyze the monetary and non-monetary value of employee benefits in addition to wages and salaries.

Explain the effect of inflation on income and purchasing power.

Calculate the future income needed to maintain a current standard of living.

Identify typical sources of income in retirement.

Complete IRS form W-4 (Employee's Withholding Allowance Certificate) to determine the optimal amount to withhold for personal income tax.

List circumstances that make it prudent to adjust the income tax withholding allowance.

Differentiate between gross, net and taxable income.

Complete IRS Form 1040EZ, Form 1040 and applicable state income tax forms.

Examine the benefits of participating in employer-sponsored retirement savings plans and health care savings plans.

Compare strategies for investing as part of a comprehensive financial plan.

Describe the importance of various sources of income in retirement, including Social Security, employer-sponsored retirement savings plans and personal investments.

Give examples of how employer matching contributions to employer-sponsored retirement savings plans and vesting schedules affect participating employees.

Illustrate how the concept of the time value of money applies to retirement planning.

Compare the consequences of delaying investment for retirement and benefits of investing early.

Differentiate between diversification and asset allocation.

Identify types of investments appropriate for different objectives such as liquidity, income and growth.

Compare total fees for buying, owning and selling various types of stocks, bonds, mutual funds and exchange-traded funds.

Investigate reasons to use retirement savings plans and health savings accounts.

Compare the advantages of taxable, tax-deferred and tax-advantaged investments for new savers, including Roth IRAs and employer-sponsored retirement vehicles.

Give examples of how economic conditions and business factors affect the market value of a stock.

Use various sources of information, including prospectuses, online resources and financial publications to gather data about specific investments.

Devise an evaluation strategy for selecting investments that meet the objectives of a personal financial plan.

Compare the advantages and disadvantages of buying and selling investments through various channels, including:<ul><li>direct purchase</li><li>employer-sponsored retirement plans</li><li>investment professionals</li><li>investment clubs</li><li>online brokerages.</li></ul>

Identify warning signs of investment fraud.

List steps that can be taken if a consumer is a victim of investment fraud.

Identify the protections provided to investors by the Securities Investor Protection Corporation (SIPC).

Use reputable government and industry sources to locate background information about a local person who sells investments or provides investment advice.

Summarize the types of information, assistance, and protection that individual investors can receive from:<ul><li>Securities and Exchange Commission</li><li>Financial Industry Regulatory Authority</li><li>Consumer Financial Protection Bureau</li><li>State Securities Administrators</li></ul>

Give examples of circumstances in which self-insurance is appropriate.

Evaluate the costs and benefits of an extended warranty.

Recommend insurance for the types of risks that young adults might face.

Investigate consequences of insurance fraud.

Describe the functions of the agency or agencies that regulate insurance in one's state of residence.

Differentiate among the main types of auto insurance coverage.

List factors that determine auto insurance premiums and the factors that cause them to change.

Determine the legal minimum amounts of auto insurance coverage required in one's state of residence and the recommended optimal amounts.

Calculate payment expected on an auto insurance claim after applying exclusions and deductibles.

Identify the factors that influence the cost of homeowners' insurance.

Analyze the factors that influence the cost of renters' insurance.

Demonstrate how to complete an insurance application.

Demonstrate how to file an insurance claim.

Analyze the conditions under which it is appropriate for young adults to have life, health and disability insurance.

Investigate the requirements for health insurance coverage.

Identify government programs that provide financial assistance for income loss due to illness, disability or premature death.

Compare sources of health and disability insurance coverage, including employee benefit plans.

Explain the purpose of long-term care insurance.

Discuss how individual responsibility for financial well-being will change over a lifetime with changing life circumstances.

Compare how financial responsibility is different for individuals with and without dependents.

Consider how personal finance decisions might affect others.

Develop a definition of wealth based on personal values, priorities and goals.

Evaluate whether financial information is objective, accurate and current.

Summarize factors to consider when selecting a professional financial advisor.

Explain why an individual or household may want to consult with an attorney for financial advice or representation.

Justify reasons to consult with a tax advisor or financial planner.

Match state and federal consumer protection laws to descriptions of the issues that they address and the safeguards that they provide.

Research where to find credible sources of up-to-date information about consumer rights and responsibilities.

Investigate sources of assistance in resolving consumer disputes.

Demonstrate formal consumer complaint procedures.

Describe how inflation affects financial decisions, including the price of goods and services.

Analyze how sales and property taxes affect financial decisions, such as when buying a car or a house.

Develop a backup plan for a specific financial goal when circumstances change, such as from job loss, illness, major gift or inheritance.

Develop a contingency plan to deal with events, such as a car breakdown or a phone loss, that might affect personal finances on short notice.

Assess the value of discussing individual and shared financial responsibilities with a roommate before moving in.

Assess the value of sharing financial goals and personal finance information with a partner before combining households.

Demonstrate how to negotiate the sales price of a major purchase such as a car or a motorcycle.

Demonstrate how to negotiate employment conditions or compensation.

Point out the factors that make a contract legal and binding.

Summarize the terms of a credit card or other loan agreement.

Summarize the terms of a homeowners' or renters' insurance policy.

Summarize the terms of a health insurance plan.

Summarize tenant and landlord rights and responsibilities that are covered in the terms of a standard apartment lease agreement.

Research the use of small claims court for the redress of a consumer dispute.

Outline the steps to resolve an employee issue with an employer.

Outline steps to resolve identity theft problems as recommended by the Federal Trade Commission and relevant financial institutions.

List entities that have a right to request certain personal financial data.

Investigate consumer safeguards for mobile and online banking.

Illustrate the causes and effects of factors that affect net worth.

Create a cash flow statement to illustrate cash inflows and outflows for a specific period.

Develop a personal financial plan, including goals, spending-and-saving plan, investing plan, insurance plan, a net worth statement and an estate plan.

Devise a strategy to monitor the personal financial plan and make modifications as needed for changing circumstances.

Identify the individuals and charitable organizations that are potential beneficiaries of personal property

List the main components of a simple will.

Identify how money and property will be distributed in one's state of residence when a person dies without a valid will.

Explain the purpose of a durable power of attorney for health care (living will).