2021-2022 Goal:

• • 1. Revise the prioritized standards sheet by the end of 1st semester using the 2020 Colorado Standards

  • 2. Find alternative ways for students to demonstrate proficiency when they are not successful on CFAs

Prioritized Standards:

(National Business Standards / Colorado State Social Studies Standards / Colorado State Math Standards)

SMART Goals and Educational/Financial Planning – Essential Outcomes

• Students are able to turn ideas into specific, articulated goals

  • (NBS I Level 3-4, A - Differentiate between types of decisions and identify those for which a formal decision-making process should be used)

• Students are able to apply the planning process to their educational and career aspirations

  • (NBS I Level 1-2, E - Recognize and assume responsibility for the consequences of economic choices)

• Students are empowered to overcome their financial and non-financial roadblocks in regard to education and career

  • (NBS II, Level 3-4, D - Analyze how career choice, education, and skills affect income and goal attainment)

Financial Institutions – Essential Outcomes

• Students are able to differentiate between various financial institutions (credit unions and banks)

  • (NBS VI, Level 3-4, C - Evaluate products and services and related costs and fees associated with financial institutions in terms of personal banking needs)

  • (SSSS III LE 6, A - Analyze various lending sources, services, and financial institutions)

  • (SMS II LE 2, D iii - Analyze various lending source, services, and financial institutions)

• Students are able to differentiate between various savings mechanisms, and articulate how those mechanisms relate to liquidity

  • (NBS II Level 1, C - Distinguish between income and wealth)

  • (SSSS III LE 5, D - Describe the appropriate types of investments to achieve the objectives of liquidity, income and growth)

• Students are confident in their ability to manage checking accounts and debit cards

  • (NBS VI Level 3-4, E - Compare and contrast the various forms of endorsement)

  • (NBS VI Level 3-4, D - Describe and demonstrate the steps involved in the bank reconciliation process)

Paychecks and Taxes – Essential Outcomes

• Students are able to understand W-4s and W-2s, and how they relate to gross and net income

  • (NBS II Level 2, D - Differentiate between gross and net income)

• Students are able to read and dissect paystubs

  • (NBS II Level 2, E - Identify benefits as a component of total income)

  • (SSSS III LE 4, C - Describe factors affecting take-home pay)

  • (SMS I LE 2, A iv - Describe factors affecting take-home pay and calculate the impact)

• Students are confident in their ability to file their taxes

  • (NBS II Level 3-4, H - Explain the impact of taxes on personal financial planning)

  • (SSSS III LE 4, E - Describe legal and ethical responsibilities regarding tax liabilities)

Budgeting – Essential Outcomes

• Students are able to develop, evaluate, and modify a spending plan

  • (NBS I Level 1-2, C - Apply opportunity costs and trade-offs to personal decision making)

  • (NBS III Level 3-4, B - Construct and use a personal spending/savings plan and evaluate it according to short- and long-term goals)

  • (SSSS III LE 4, A - Develop a financial plan including a budget based on short- and long-term goals)

  • (SMS I LE 2, A v - Design and use a budget, including income (net take-home pay) and expenses (mortgage, car loans, and living expenses) to demonstrate how living within your means is essential for a secure financial future)

• Students are able to differentiate between wants and needs, and between fixed and variable/flexible expenses

  • (NBS I Level 1-2, B - Explain how every individual defines wants and needs differently)

  • (NBS III Level 2, C - Categorize expenses as fixed or variable)

Investing – Essential Outcomes

• Students are able to understand the impact of interest compounding over time

  • (NBS IV Level 2, D - Analyze the power of compounding and the importance of starting early in implementing a plan of saving and investing)

• Students are able to differentiate and compare types of investment vehicles

  • (NBS IV Level 2, C - Identify the risk/return trade-offs for saving and investing)

  • (SSSS III LE 5, A - Compare and contrast the variety of investments available for a diversified portfolio)

• Students are confident in their ability to manage risk and reward

  • (NBS IV Level 4, A - Examine the role of saving and investing in creating a financial plan)

  • (SSSS III LE 5, B - Evaluate factors to consider when managing savings and investment accounts)

Credit and Purchasing – Essential Outcomes

• Students are able to understand how credit scores are calculated

  • (NBS VII Level 1, D - Identify methods of establishing and maintaining a good credit rating)

  • (SSSS III LE 6, C - Make connections between building and maintaining a credit history and its impact on lifestyle)

  • (SMS II LE 2, D ii - Evaluate the costs and benefits of credit)

• Students are able to understand how to develop, manage, and rehabilitate credit scores, and protect from identity theft

  • (NBS V Level 3-4, G - Explain how a consumer can identify and report fraudulent behavior and practices)

  • (SSSS III LE 4, B - Analyze financial information for accuracy, relevance, and steps for identity protection)

• Students are confident in their ability to manage electronic payment methods (credit cards and, potentially, Venmo, PayPal, Apple Pay, Bitcoin, vendor apps, gift cards, etc.)

  • (NBS VII Level 2, D - Analyze credit card features and their impact on personal financial planning)

  • (NBS VI Level 2, D - Differentiate among types of electronic monetary transactions)

• Students are able to evaluate how credit affects their ability to make large purchases (vehicles, homes)

  • (NBS VII Level 3-4, D - Explain credit ratings and credit reports and describe why they are important to consumers)

  • (SMS II LE 2, D i - Analyze the impact of interest rates on a personal financial plan)

  • (SMS II LE 2, D ii - Evaluate the costs and benefits of credit)

Risk Management/Insurance – Essential Outcomes

• Students are able to identify different kinds of insurance (car, rent/home, life, liability, medical)

  • (NBS VIII Level 3, A - Identify the type of insurance associated with different types of risk)

  • (SSSS III LE 7, A - Differentiate between types of insurance)

• Students are able to understand different factors that affect insurance rates

  • (NBS VIII Level 1, A - Identify risks in life and how to gain protection against the consequences of risk)

  • (SSSS III LE 7, C - Select and evaluate strategies to mitigate risk)

• Students are able to evaluate insurance from a risk management perspective, including the balance between premiums and deductibles, and being over-insured versus being under-insured

  • (NBS VIII Level 4, A - Develop recommended insurance coverage for individuals/families for various risks and different income levels)

  • (SSSS III LE 7, B - Explain the function and purpose of insurance)

  • (SMS III LE 3, C - Analyze the cost of insurance as a method to offset the risk of a situation)

Norms:

• • Start and end on time - 8:10 to 9:10

  • Administer the pre-test by the end of the first week of class and bring data to next PLC

  • Start with limited time on SMART Goals and then move through units and always bring post-test data to next PLC