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The following is a list of personal finance topics that are addressed in the standards and benchmarks utilized throughout Financial Peace for the Next Generation.
These standards and benchmarks are in concordance with National Standards for Financial Literacy provided by the Jump$tart Coalition for Personal Financial Literacy.
Financial Responsibility and Decision Making:
Apply reliable information and systematic decision making to personal financial decisions.
Income and Careers:
Use a career plan to develop personal income potential.
Planning and Money Management:
Organize personal finances and use a budget to manage cash flow.
- 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 purchase decisions.
- Consider charitable giving.
- Develop a personal financial plan.
Credit and Debt:
Maintain creditworthiness, borrow at favorable terms, and manage debt.
- Identify the costs and benefits of various types of credit.
- Explain the purpose of a credit record and identify borrowers' credit report rights.
- Describe ways to avoid or correct debt problems.
- Summarize major consumer credit laws.
Risk Management and Insurance:
Use appropriate and cost-effective risk management strategies.
- Identify common types of risks and basic risk management methods.
- Explain the purpose and importance of property and liability insurance protection.
- Explain the purpose and importance of health, disability, and life insurance protection.
Saving and Investing:
Implement a diversified investment strategy that is compatible with personal goals.
- Discuss how saving contributes to financial well-being.
- Explain how investing builds wealth and helps meet financial goals.
- Evaluate investment alternatives.
- Describe how to buy and sell investments.
- Explain how taxes affect the rate of return on investments.
- Investigate how agencies that regulate financial markets protect investors.
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