FOUNDATIONS in PERSONAL FINANCE

 

Standards and Benchmarks

Foundations in Personal Finance meets the national standards developed and written by the Jump$tart Coalition for Personal Financial Literacy, as well as personal finance standards and benchmarks at each state level. Click on your state for a correlation.

State Standards

See how Foundations in Personal Finance matches up with your state's standards and benchmarks:

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Financial Responsibility and Decision Making

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

  • Take responsibility for personal financial decisions.
  • Find and evaluate financial information from a variety of sources.
  • Summarize major consumer protection laws.
  • Make financial decisions by systematically considering alternatives and consequences.

Income and Careers

Use a career plan to develop personal income potential.

  • Explore career options.
  • Identify sources of personal income.
  • Describe factors affecting take-home pay.

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 credit-worthiness, 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.