What grade levels do these standards cover?

Kindergarten, Grade 1, and Grade 2

Where can I read the official document?

Wisconsin Standards for Personal Financial Literacy

K–12 Standards

Grades K-2
Other Wisconsin Personal Financial Literacy sets
Grades 3-5
Grades 6-8
Grades 9-12

Financial MindsetFM

1
Students will develop strategies to make intentional financial decisions throughout their lifespan. FM1
1. a
  Critical ConsumerFM1.a
  1
  Differentiate between buyers (consumers) and sellers (producers).FM.1.a.e1
  2
  List traits of being a responsible consumer (e.g., look at the price or compare the value of items).FM.1.a.e2
  3
  Define advertising and list places advertisements can be found.FM.1.a.e3
2. b
  Functions and Structure of MoneyFM1.b
  1
  Categorize types of money (e.g., coins or bills), and explain why money is used.FM1.b.e1
3. c
  Opportunity CostsFM1.c
  1
  Differentiate between a want and a need.FM1.c.e1
2
Students will analyze how aspects of financial psychology impact financial well-being.FM2
1. a
  Values and BehaviorFM2.a
  1
  Identify why people decide to earn, save, spend, or give money.FM2.a.e1
2. b
  Emotional InfluencesFM2.b
  1
  Identify how emotions may be the same or different from other people.FM2.b.e1
3. c
  External InfluencesFM2.c
  1
  Identify external influences (e.g., peers, family, or community) that may affect what someone wants.FM2.c.e1
4. d
  Financial GoalsFM2.d
  1
  Identify the importance of a financial goal (e.g., purchasing a bicycle or toy).FM2.d.e1
5. e
  Civic Engagement and Philanthropy (e.g., giving back, volunteering, donation, or charity)FM2.e
  1
  Recognize ways to give back (e.g., donating to a charity or volunteering) in our classroom, school, community, state, tribal nation, country, and in the world.FM2.e.e1
3
Students will establish digital awareness to enhance their financial mindset.FM3
1. a
  Online and Account SecurityFM3.a
  1
  Explain the importance of an online password, and identify reasons to use a password.FM3.a.e1
2. b
  Digital FootprintFM3.b
  1
  Define sources of digital information and storage (e.g., Internet, World Wide Web, and personal devices).FM3.b.e1
3. c
  Digital ResourcesFM3.c
  1
  List websites or mobile apps and identify what types of information people access online.FM3.c.e1

Education and EmploymentEE

1
Students will compare the effect of personal income on their goals.EE1
1. a
  Deductions and TaxesEE1.a
  1
  Summarize goods and Explain behaviors and services that the government decisions that reflect provides (e.g., roads, schools, interests, likes, and dislikes. or police).EE1.a.e1
2. b
  Types of CompensationEE2.b
  1
  Identify ways people earn money.EE2.b.e1
2
Students will evaluate the impact of lifelong learning on one’s ability to function effectively in a diverse and changing economy.EE2
1. a
  Post-Secondary Education, Skills, and TrainingEE2.a
  1
  Identify skills needed for different types of jobs.EE2.a.e1
  2
  Discover the different skills associated with various job or career fields (e.g., what skills are needed to be a plumber, teacher, dentist, firefighter or store manager).EE2.a.e2
2. b
  Emerging Employment and Education TrendsEE2.b
  1
  Categorize jobs as high demand or low demand.EE2.b.e1
  2
  Describe how specific jobs or career fields have changed over time.EE2.b.e2

Money ManagementMM

1
Students will demonstrate their ability to use money management skills and strategies.MM1
1. a
  BudgetingMM1.a
  1
  Explain the importance of a budget.MM1.a.e1
2. b
  Financial ManagementMM1.b
  1
  Identify that there are three ways you can use money - save, spend, and give.MM1.b.e1
2
Students will utilize financial institutions and service providers to support money managementMM2
1. a
  Financial Institutions and Service ProvidersMM2.a
  1
  Identify financial institutions within the community.MM2.a.e1
2. b
  Payment TypesMM2.b
  1
  Recognize that items of value, including money, can be earned and exchanged for goods and services.MM2.b.e1
3. c
  Alternative Financial CurrencyMM2.c
  1
  Describe how paying for goods and services online is still using real money.MM2.c.e1

Savings and InvestingSI

1
Students will explore savings concepts and apply this knowledge to attain financial security.SI1
1. a
  Saving PrinciplesSI1.a
  1
  Identify an experience of waiting to have enough money to buy something.SI1.a.e1
2. b
  Savings Types and FeaturesSI1.b
  1
  Identify places where something valuable would be secure.SI1.b.e1
3. c
  Saving Goal PlanningSI1.c
  1
  Describe strategies to save money.SI1.c.e1
4. d
  Saving Risk and RewardSI1.d
  1
  Explain how choices we make now affect what we get in the future. SI1.d.e1
  2
  Explain how financial institutions help people make choices about how to save money.SI1.d.e2
5. e
  Role of Government in SavingSI1.e
2
Students will explore investing concepts and apply this knowledge to attain financial security.SI2
1. a
  Investing PrinciplesSI2.a
  1
  Explain how gathering items of value may build net worth.SI2.a.e1
2. b
  Investing Types and FeaturesSI2.b
  1
  Differentiate between owning something of value, keeping money in a financial institution, or giving money to someone else in return for future value.SI2.b.e1
3. c
  Investing Goal PlanningSI2.c
  1
  Identify the difference between short-term and long-term (e.g., today versus Saturday versus the future or elementary versus middle school versus high school).SI2.c.e1
4. d
  Investing Risk and RewardsSI2.d
  1
  Identify how items of value may fluctuate over time.SI2.d.e1
5. e
  Role of Government in InvestingSI2.e

Credit and DebtCD

1
Students will examine the benefits and costs of using credit.CD1
1. a
  Benefits of Using CreditCD1.a
  1
  Explain why something borrowed must be returned.CD1.a.e1
2. b
  Cost of Using CreditCD1.b
  1
  Explain the difference between buying and borrowing.CD1.b.e1
3. c
  Interest and FeesCD1.c
  1
  Explain how people can borrow money or an item if they promise to return it.CD1.c.e1
4. d
  Debt ResolutionCD1.d
  1
  Identify actions a borrower can take to satisfy a lender when a borrowed item cannot be repaid, is lost, or damaged.CD1.d.e1
  2
  Explain who can assist in solving problems (e.g., parents, teachers, or counselors).CD1.d.e2
2
Students will interpret lending options, consumer rights, and responsibilities.CD2
1. a
  Credit Products and ServiesCD2.a
  1
  Identify different forms of payment methods (e.g., online, cash, debit card, credit card, or loan).CD2.a.e1
  2
  Identify people from whom a person could borrow an item.CD2.2
2. b
  High-Cost Alternative LendingCD2.b
3. c
  Consumer Credit Rights and ResponsibilitiesCD2.c
  1
  Identify actions a borrower can take to satisfy a lender when a borrowed item is lost or damaged.CD2.c.e1

Risk Management and InsuranceRI

1
Students will contrast different types of risk and how it could affect their financial decisions.RI1
1. a
  RiskRI1.a
  1
  Describe the feeling of losing an object (e.g., losing money, losing a favorite toy, or losing homework assignments).RI1.a.e1
  2
  Predict some risks in everyday situations (e.g., playing on the playground, staying up too late, or riding a bike) and explain ways to limit these risks.RI1.a.e2
2
Students will assess possible choices to protect themselves from financial risk.RI2
1. a
  Purpose of InsuranceRI2.a
  1
  Determine different types of situations where a person needs protection (e.g., staying near parents, riding a bike, or crossing a busy road).RI2.a.e1
2. b
  Types of InsuranceRI2.b
  1
  Identify why someone would get insurance on valuable items (e.g., cell phone or game console).RI2.b.e1
3. c
  Cost Factors of InsuranceRI2.c
  1
  Predict consequences of not having protection for various scenarios.RI2.c.e1
4. d
  Meaning of Insurance ContractsRI2.d
  1
  Illustrate what both people have to do when they enter an agreement.RI2.d.e1
5. e
  Loss Prevention PlanRI2.e
  1
  Determine the best type(s) of protection for given scenarios regarding risk (e.g., wearing a coat in the cold or wearing a bike helmet).RI2.e.e1

Frequently asked questions

What grade levels do these standards cover?: Kindergarten, Grade 1, and Grade 2
Where can I read the official document?: Wisconsin Standards for Personal Financial Literacy

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