Core Curriculum Content Standards

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NJ World Class Standards
Content Area: 21st-Century Life and Careers
9.2 Personal Financial Literacy
Content Area 21st-Century Life and Careers
Standard 9.2 Personal Financial Literacy All students will develop skills and strategies that promote personal and financial responsibility related to financial planning, savings, investment, and charitable giving in the global economy.
Strand B. Money Management
By the end of grade Content Statement CPI# Cumulative Progress Indicator (CPI)
4
Money management involves setting financial goals.
9.2.4.B.1 Differentiate between financial wants and needs.                                                                                                              
9.2.4.B.2 Identify age-appropriate financial goals.                                                                                                              
Money management is reliant on developing and maintaining personal budgets.
9.2.4.B.3 Explain what a budget is and why it is important.                                                                                                              
9.2.4.B.4 Identify common household expense categories and sources of income.                                                                                                              
Money management requires understanding of cash flow systems and business practices.
9.2.4.B.5 Identify ways to earn and save.                                                                                                              
9.2.4.B.6 Distinguish among cash, check, credit card, and debit card.                                                                                                              
9.2.4.B.7 Explain the purposes of financial institutions in the community.                                                                                                              
8
Money management involves setting financial goals.
9.2.8.B.1 Construct a simple personal savings and spending plan based on various sources of income.                                                                                                              
9.2.8.B.2 Justify the concept of “paying yourself first” as a financial savings strategy.                                                                                                              
9.2.8.B.3 Relate the concept of deferred gratification to investment, meeting financial goals, and building wealth.                                                                                                              
9.2.8.B.4 Analyze the effect of the economy on personal income, individual and family security, and consumer decisions.                                                                                                              
9.2.8.B.5 Evaluate the relationship of cultural traditions and historical influences on financial practice.                                                                                                              
Money management is reliant on developing and maintaining personal budgets.
9.2.8.B.6 Construct a budget to save for long-term, short-term, and charitable goals.                                                                                                              
9.2.8.B.7 Develop a system for keeping and using financial records.                                                                                                              
Money management requires understanding of cash flow systems and business practices.
9.2.8.B.8 Explain the concept of cash flow and construct cash flow statements.                                                                                                              
9.2.8.B.9 Create debit and credit balance sheets and income and cash statements.                                                                                                              
9.2.8.B.10 Determine the most appropriate use of various financial products and services (e.g., ATM, debit cards, credit cards, checkbooks).                                                                                                              
9.2.8.B.11 Justify safeguarding personal information when using credit cards, banking electronically, or filing forms.                                                                                                              
9.2.8.B.12 Evaluate the appropriate financial institutions to assist with meeting various personal financial needs and goals.                                                                                                              
12
Money management involves setting financial goals.
9.2.12.B.1 Prioritize financial decisions by systematically considering alternatives and possible consequences.                                                                                                              
9.2.12.B.2 Compare strategies for saving and investing and the factors that influence how much should be saved or invested to meet financial goals.                                                                                                              
9.2.12.B.3 Construct a plan to accumulate emergency “rainy day” funds.                                                                                                              
Money management is reliant on developing and maintaining personal budgets.
9.2.12.B.4 Analyze how income and spending plans are affected by age, needs, and resources.                                                                                                              
9.2.12.B.5 Analyze how changes in taxes, inflation, and personal circumstances can affect a personal budget.                                                                                                              
9.2.12.B.6 Design and utilize a simulated budget to monitor progress of financial plans.                                                                                                              
Money management requires understanding of cash flow systems and business practices.
9.2.12.B.7 Develop personal financial planning strategies that respond to and use tax deductions and shelters.                                                                                                              
9.2.12.B.8 Describe and calculate interest and fees that are applied to various forms of spending, debt, and saving.                                                                                                              
9.2.12.B.9 Chart and evaluate the growth of mid- and long-term investments.                                                                                                              
9.2.12.B.10 Develop a plan that uses the services of various financial institutions to meet personal and family financial goals.