Common Planner
K–12 Standards

Grades 9, 10, 11, 12

Other Maryland Personal Financial Literacy sets

Make Informed, Financially Responsible Decisions - Students will apply financial literacy reasoning in order to make informed, financially responsible decisions.

  • A

    Evaluate the financial choices that are made based on available resources, needs, and wants for goods and services.1.12.A

    1. 1

      Explain how scarcity and opportunity cost affect decision-making.1.12.A.1

    2. 2

      Analyze costs, benefits, and opportunity cost to determine the achievement of personal financial goals.1.12.A.2

    3. 3

      Apply the decision-making process to an unforeseen situation.1.12.A.3

    4. 4

      Explain the concept of financial obligations, such as a promissory note, cell phone contract or college loan.1.12.A.4

    5. 5

      Evaluate how public policy issues impact personal financial decisions, such as environmental and health care concerns.1.12.A.5

  • B

    Evaluate attitudes, assumptions, and patterns of behavior regarding financial decisions, and predict how they impact the achievement of financial goals.1.12.B

    1. 1

      Evaluate factors that affect personal financial decisions and actions.1.12.B.1

    2. 2

      Reflect on the impact of philanthropy, volunteer service, and charities in community development and quality of life.1.12.B.2

    3. 3

      Compare individual differences and influences on consumer decisions related to money including the impact on relationships.1.12.B.3

  • C

    Evaluate and apply financial knowledge, attitudes, and skills.1.12.C

    1. 1

      Refine and extend a conceptual understanding of new words regarding financial literacy.1.12.C.1

    2. 2

      Justify an informed and responsible action to resolve personal financial literacy questions and issues.1.12.C.2

    3. 3

      Apply the decision-making process to achieve a personal financial goal.1.12.C.3

    4. 4

      Evaluate outcomes of financially responsible and irresponsible decisions.1.12.C.4

  • D

    Compare different types of markets.1.12.D

    1. 1

      Determine different types of retail markets, and analyze the goods and services they offer.1.12.D.1

    2. 2

      Examine external factors that affect a market such as inflation, and determine the most appropriate time to purchase.1.12.D.2

  • E

    Evaluate the economic impacts of government, business, and consumer financial decisions.1.12.E

    1. 1

      Assess the impact of global economic events on personal financial planning.1.12.E.1

    2. 2

      Examine the consequences of personal consumer decisions and actions on the global economy, and the environment.1.12.E.2

    3. 3

      Analyze the impacts of business, government, and consumer financial decisions on the individual, family, and community.1.12.E.3

Relate Careers, Education, and Income - Students will relate choices regarding their education and career paths to earning potential.

  • A

    Evaluate the relationships among education, skills, career choices, economic conditions, and income.2.12.A

    1. 1

      Evaluate how interests, skills, career choices, and economic conditions affect education choices.2.12.A.1

    2. 2

      Evaluate how education choices affect income as well as the return on investment.2.12.A.2

    3. 3

      Analyze how personal values may impact financial decisions, including becoming an entrepreneur.2.12.A.3

    4. 4

      Analyze the benefits and trade-offs of a variety of careers including personal satisfaction.2.12.A.4

    5. 5

      Analyze the relationship of career choice and personal satisfaction.2.12.A.5

  • B

    Evaluate sources of income.2.12.B

    1. 1

      Differentiate between earned income and other sources of income.2.12.B.1

    2. 2

      Describe how adjusting benefits can affect income.2.12.B.2

  • C

    Evaluate the relationship among income, spending decisions and lifestyle.2.12.C

    1. 1

      Analyze how education affects career choice and income affects purchasing and spending decisions.2.12.C.1

    2. 2

      Evaluate a variety of spending decisions that impact career opportunities, such as how credit scores can affect getting a Security Clearance.2.12.C.2

  • D

    Determine how taxes, employee benefits, and public programs relate to income.2.12.D

    1. 1

      Describe how taxes can affect income and lifestyle.2.12.D.1

    2. 2

      Explain how taxable income impacts disposable income.2.12.D.2

    3. 3

      Research employee benefits, such as retirement plans and health care, and how they affect the quality of life.2.12.D.3

    4. 4

      Evaluate public and private college finance options, including scholarships, federal student aid, the role of FAFSA, and federal loan repayment options.2.12.D.4

    5. 5

      Research public programs and services that are available to employees and how they affect the quality of life, such as Social Security and Workmen's Compensation and Disability benefits.2.12.D.5

Plan and Manage Money - Students will develop skills to plan and manage money effectively by identifying financial goals and developing spending plans.

  • A

    Demonstrate the ability to use money management skills and strategies.3.12.A

    1. 1

      Determine the feasibility of a spending plan based on multiple sets of criteria.3.12.A.1

    2. 2

      Analyze and compare income and spending plans as affected by age, needs, and resources.3.12.A.2

    3. 3

      Apply various money management strategies to authentic situations and predict results over time.3.12.A.3

    4. 4

      Cite examples of trade-offs resulting from competing financial goals.3.12.A.4

  • B

    Analyze the services of financial institutions.3.12.B

    1. 1

      Develop a plan that uses the services of various financial institutions to meet personal and family financial goals.3.12.B.1

    2. 2

      Describe and calculate interest and fees applied to various forms of saving, spending, debt.3.12.B.2

  • C

    Develop and evaluate financial goals based on personal values.3.12.C

    1. 1

      Integrate long-range personal goals with financial needs and resources.3.12.C.1

    2. 2

      Compare various strategies for securing funding for a future event.3.12.C.2

  • D

    Evaluate the purposes and responsibilities related to taxation.3.12.D

    1. 1

      Analyze the application and impact of various forms of taxation on individuals, families, and public agencies.3.12.D.1

    2. 2

      Critique how government's tax policies affect individuals, families, and communities.3.12.D.2

    3. 3

      Identify reasons to comply with personal tax obligations and the consequences of not doing so.3.12.D.3

    4. 4

      Analyze ways consumers influence the use of economic resources to achieve basic societal and individual services.3.12.D.4

    5. 5

      Evaluate various sources of assistance with tax planning and filing.3.12.D.5

  • E

    Explain that contracts are binding agreements.3.12.E

    1. 1

      Examine situations where written contracts are necessary.3.12.E.1

    2. 2

      Examine sample contracts for essential components and meaning.3.12.E.2

    3. 3

      Identify the rights and responsibilities of all parties entering into a contract, such as college loans, cell phones contracts, car loans, collateral loans, passbook loans, and mortgages.3.12.E.3

Manage Credit and Debt - Students will develop skills to make informed decisions about incurring debt and maintaining creditworthiness.

  • A

    Evaluate how to use debt beneficially.4.12.A

    1. 1

      Explain the advantages and disadvantages of debt.4.12.A.1

    2. 2

      Determine a variety of situations in which debt is beneficial.4.12.A.2

  • B

    Evaluate the advantages and disadvantages of credit products and services.4.12.B

    1. 1

      Evaluate information about products and services.4.12.B.1

    2. 2

      Differentiate and calculate the difference between short- and long-term loans.4.12.B.2

    3. 3

      Identify and discuss examples of predatory lending practices, such as payday lenders.4.12.B.3

  • C

    Analyze sources of credit.4.12.C

    1. 1

      Explain how to acquire and maintain credit.4.12.C.1

    2. 2

      Compare sources of consumer credit, and apply them to consumer decisions.4.12.C.2

    3. 3

      Compare strategies of credit and debt management.4.12.C.3

    4. 4

      Compare the financial benefits and services of different types of lending institutions.4.12.C.4

  • D

    Use numeracy skills to calculate the cost of borrowing.4.12.D

    1. 1

      Use online business tools to compare and compute interest and compound interest and to interpret an amortization table.4.12.D.1

    2. 2

      Compute and assess the accumulating effect of interest paid over time when using a variety of sources of credit.4.12.D.2

    3. 3

      Calculate and compare the total cost of borrowing for various amounts and types of purchases.4.12.D.3

  • E

    Identify and evaluate interest rates, fees, and other credit charges.4.12.E

    1. 1

      Analyze the impact of using a credit card vs. a debit card as it relates to money management.4.12.E.1

    2. 2

      Analyze the advantages and disadvantages of different payment methods and options, including the Automatic Clearing House.4.12.E.2

    3. 3

      Explain the different types of loans associated with mortgages as it relates to interest rates (fixed, variable, and balloons), insurance, and fees.4.12.E.3

  • F

    Analyze credit scores and reports.4.12.F

    1. 1

      Explain personal responsibility and the factors that affect creditworthiness, such as payment history and total debt vs. total available credit.4.12.F.1

    2. 2

      Explain how a credit report is used and how frequently it should be obtained.4.12.F.2

    3. 3

      Explain how credit scores can be used to leverage better products, services, and employment opportunities, such as Security Clearance.4.12.F.3

    4. 4

      Apply strategies to prevent or manage credit problems.4.12.F.4

    5. 5

      Compare sources of credit reporting and evaluate credit report scores.4.12.F.5

  • G

    Evaluate the consequences of not meeting credit obligations.4.12.G

    1. 1

      Analyze the problems of not meeting credit obligations, such as poor credit score, late fees, acquiring loans, paying higher interest rates, and bankruptcy.4.12.G.1

    2. 2

      Determine when credit counseling is necessary.4.12.G.2

    3. 3

      Find reputable providers of credit counseling services.4.12.G.3

Create and Build Wealth - Students will develop skills to plan and achieve long-term goals related to saving and investing in order to build financial security and wealth.

  • A

    Critique appropriate financial services and products to specified goals.5.12.A

    1. 1

      Develop a model comparing investment results.5.12.A.1

    2. 2

      Select appropriate financial services and products to achieve personal financial goals.5.12.A.2

    3. 3

      Compare, contrast, and compute historical returns and fees of various financial products.5.12.A.3

    4. 4

      Differentiate between various investment products.5.12.A.4

  • B

    Evaluate strategies for creating wealth and building assets.5.12.B

    1. 1

      Explain the effects of being banked versus unbanked.5.12.B.1

    2. 2

      Describe federal deposit insurance programs for banks and credit unions.5.12.B.2

    3. 3

      Analyze the effect of compounding.5.12.B.3

    4. 4

      Explain the concept of asset allocation based on short- and long term goals.5.12.B.4

    5. 5

      Assess factors that influence financial planning (age, income, liabilities, assets, goals, family size, risk tolerance, etc.).5.12.B.5

    6. 6

      Explain the relationship among buying power, interest rates, and inflation.5.12.B.6

  • C

    Explain the relationships between saving and investing.5.12.C

    1. 1

      Describe the role of revenue-generating assets in building wealth.5.12.C.1

    2. 2

      Describe the processes and vehicles for buying and selling investments.5.12.C.2

    3. 3

      Compare sources for investment products, such as banks, investment companies, financial planners, etc.5.12.C.3

    4. 4

      Compare the risk, return, and liquidity of various investment alternatives.5.12.C.4

  • D

    Analyze the concepts of supply and demand to stock market price changes.5.12.D

    1. 1

      Explain how supply and demand works in various situations.5.12.D.1

    2. 2

      Determine the impact of various events on stock market prices.5.12.D.2

  • E

    Apply the decision-making processes to financial decisions related to planning, saving, and investing.5.12.E

    1. 1

      Develop and justify investment and/or savings strategies to achieve specified goals.5.12.E.1

    2. 2

      Develop personal financial planning strategies that respond to and use tax deductions.5.12.E.2

Manage Risks and Preserve Wealth - Students will develop financial planning skills to minimize financial setbacks.

  • A

    Evaluate the strategies that protect income and wealth.6.12.A

    1. 1

      Explain circumstances that impact income and wealth.6.12.A.1

    2. 2

      Analyze forms of financial risk with varying degrees of risk tolerance.6.12.A.2

    3. 3

      Strategize methods to minimize financial loss.6.12.A.3

    4. 4

      Explain how legal documents protect individuals' personal assets, such as wills and trusts.6.12.A.4

  • B

    Justify the need for and value of various types of insurance (such as health, property, life, disability, and liability) within the life cycle.6.12.B

    1. 1

      Investigate and apply different types of insurance coverage to selected situations.6.12.B.1

    2. 2

      Review and apply criteria to choose insurance coverage for selected situations.6.12.B.2

    3. 3

      Compare insurance rates, premiums, and deductibles to minimize costs in selected situations.6.12.B.3

    4. 4

      Create an individual or family insurance plan for selected situations.6.12.B.4

  • C

    Evaluate the purposes, strategies, and effects of various business practices, including sales techniques.6.12.C

    1. 1

      Analyze the influence of advertising and the media on decision making and spending.6.12.C.1

    2. 2

      Explain the consequences of business practices to individuals, families, and society.6.12.C.2

    3. 3

      Analyze the characteristics of an informed consumer.6.12.C.3

  • D

    Critique sources of consumer protection and assistance including public institutions and private organizations (professionals, publications, and internet).6.12.D

    1. 1

      Evaluate how fraudulent activities affect consumers and methods for protection against fraudulent activities.6.12.D.1

    2. 2

      Assess situations that put consumers in financial risk, such as sharing account information, identify theft, and co-signing on loans.6.12.D.2

    3. 3

      Justify why certain types of information should be secure and private.6.12.D.3

    4. 4

      Explain the rights and responsibilities of buyers and sellers under consumer protection laws such as the "Credit Card Bill of Rights."6.12.D.4

    5. 5

      Apply consumer protection laws to dispute a claim.6.12.D.5

Frequently asked questions

What grade levels do these standards cover?
Grade 9, Grade 10, Grade 11, and Grade 12
When were these standards adopted?
2010

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