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Personal Finance

Sibley-Ocheyedan Standards and Benchmarks

Personal Finance


Abilities Standards
  1. Income
    1. Identify sources of income
    2. Analyze how career choice, education, skills, and economic conditions affect income.
    3. Explain how taxes, government transfer payments, and employee benefits relate to disposable income.
  2. Money Management
    1. Explain how limited personal financial resources affect the choices people make.
    2. Identify the opportunity cost of financial decisions.
    3. Discuss the importance of taking responsibility for personal financial decision.
    4. Apply a decision-making process to personal financial choices.
    5. Explain how inflation affects spending and investing decisions.
    6. Describe how insurance and other risk-management strategies protect against financial loss.
    7. Design a plan for earning, spending, saving, and investing.
    8. Explain how to use money-management tools available from financial institution.
  3. Spending and Credit
    1. Compare the benefits and costs of spending decisions.
    2. Evaluate information about products and services.
    3. Compare the advantages and disadvantages of different payment methods.
    4. Analyze the benefits and costs of consumer credit.
    5. Compare sources of consumer credit.
    6. Explain factors that affect creditworthiness and the purpose of credit records.
    7. Identify ways to avoid or correct credit problems.
    8. Describe the rights and responsibilities of buyers and sellers under consumer protection laws.
  4. Saving and Investing
    1. Explain the relationship between saving and investing.
    2. Describe reasons for saving and reasons for investing.
    3. Compare the risk, return, and liquidity of investment alternatives.
    4. Describe how to buy and sell investments.
    5. Explain how different factors affect the rate o return of investment.
    6. Evaluate sources of investment information.
    7. Explain how agencies that regulate financial markets protect investors.
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