Wisconsin
9th-12th Grades
State Standards
Personal Financial Literacy
FM: Financial Mindset
FM1: Students will develop strategies to make intentional financial decisions throughout their lifespan.
FM1.a: Critical Consumer
FM1.a.h: Summarize consumer rights, responsibilities, protections, and consumer vigilance (e.g., contesting incorrect billing or registering a consumer complaint). Analyze and apply multiple sources of information when making consumer decisions (e.g., advertisements, reviews, interest rates, applicable fees, consumer movements, or choice). Analyze the financial impact of advertising including techniques, potential for deception along with the influence of promotions, packaging, and placement.
FM1.b: Functions and Structure of Money
FM1.b.h: Evaluate the functions and value of money in the United States (e.g., how the value is based upon the strength and credit of the government/issuing body). Identify the function of the foreign exchange market to establish a relative value of different currencies and the process that changes in currency values may have on purchasing power in relationship to the cost of goods and services in a global marketplace.
FM1.c: Opportunity Costs
FM1.c.h: Perform a cost-benefit analysis on a real-world situation.
FM2: Students will analyze how aspects of financial psychology impact financial well-being.
FM2.a: Values and Behavior
FM2.a.h: Assess the impact of individual values and behaviors on financial decisions and goals.
FM2.b: Emotional Influences
FM2.b.h: Evaluate strategies individuals use to manage emotions impacting financial decisions.
FM2.c: External Influences
FM2.c.h: Critique a financial plan and identify areas that may have been influenced by external sources.
FM2.d: Financial Goals
FM2.d.h: Distinguish how an investment plan that incorporates a goal development strategy reflects various life factors (e.g., age, personal values, income, liabilities, assets, goals, family size, risk tolerance, or net worth).
EE: Education and Employment
EE1: Students will compare the effect of personal income on their goals.
EE1.a: Career Development
EE1.a.h: Prioritize potential occupations based upon the results of a career assessment or interest inventory. Create a career development plan relative to personal interests, aptitudes, and potential earnings. Explain how career development goals fit with personal skills and attributes, current activities, and postsecondary plan.
MM: Money Management
MM1: Students will demonstrate their ability to use money management skills and strategies.
MM1.a: Budgeting
MM1.a.h: Prepare a budget or spending plan that depicts varying sources of income, a planned saving strategy, taxes, and other sources of fixed and variable spending.
MM1.b: Financial Management
MM1.b.h: Compare and contrast different sources of active and passive income, savings, and investment vehicles. Develop and critique short-term and long-term personal financial plans. Evaluate circumstances when an individual may want to grant representation or consult for financial advice with a financial advisor, attorney, tax advisor, or financial planner. Summarize factors to consider when seeking financial advice and services.
MM2: Students will utilize financial institutions and service providers to support money management.
MM2.a: Financial Institutions and Service Providers
MM2.a.h: Compare financial institutions and service providers (e.g., banks, credit unions, investment and brokerage firms, mortgage brokers, payday lenders, online financial institutions, or loan agencies). Analyze the reasons for regulation and the roles of financial regulators [e.g., FDIC, NCUA, CFPB, Federal Reserve, OCC, WDFI, WOCI, WDATCP].
MM2.b: Payment Types
MM2.b.h: Assess the advantages and disadvantages of digital banking (e.g., online banking, bill pay, transfers, or checking account transactions). Summarize the tax and legal implications that require you to maintain personal records of significant financial transactions.
MM2.c: Alternative Financial Currency
MM2.c.h: Compare online and mobile systems or applications used as a means of alternative currency.
SI: Saving and Investing
SI1: Students will explore savings concepts and apply this knowledge to attain financial security.
SI1.a: Saving Principles
SI1.a.h: Demonstrate how to manage savings accounts—both manually and electronically, including reconciliation. Determine the opportunity cost in relation to a saving plan (e.g., inflation or taxes). Compare and contrast the benefits of pay yourself first and living paycheck to paycheck strategies on financial outcomes.
SI1.b: Savings Types and Features
SI1.b.h: Compare and contrast characteristics of basic savings options (e.g., savings accounts, money market accounts, or certificates of deposit). Explain the impact of electronic funds transfer (EFT) services on savings accounts.
SI1.c: Saving Goal Planning
SI1.c.h: Determine the best options to achieve specific short- and long-term personal saving goals. Compare and contrast financial services and products to achieve personal saving goals.
SI1.d: Saving Risk and Reward
SI1.d.h: Compare and contrast the opportunity cost and reward of basic saving options (e.g., savings accounts, money market accounts, or certificates of deposit). Evaluate the effect of compound interest on savings options.
SI1.e: Role of Government in Saving
SI1.e.h: Explain the role that government agencies play in protecting deposits (e.g., FDIC, NCUA).