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