Financial Literacy Jump$tart Standards
Spending and Saving (C)
Overall Competency: Apply strategies to monitor income and expenses, plan for spending and save for future goals.
Standard 1. Develop a plan for spending and saving.
Standard 2. Develop a system for keeping and using financial records.
Standard 3. Describe how to use different payment methods.
Standard 4. Apply consumer skills to spending and saving decisions.
Credit and Debt (D)
Overall Competency: Develop strategies to control and manage credit and debt.
Standard 1. Analyze the costs and benefits of various types of credit.
Standard 2. Summarize a borrower’s rights and responsibilities related to credit reports.
Standard 3. Apply strategies to avoid or correct debt management problems.
Standard 4. Summarize major consumer credit laws.
Employment and Income (B)
Overall Competency: Use a career plan to develop personal income potential.
Standard 1. Explore job and career options.
Standard 2. Compare sources of personal income and compensation.
Standard 3. Analyze factors that affect net income.
Investing (F)
Overall Competency: Implement a diversified investment strategy that is compatible with personal financial goals.
Standard 1. Explain how investing may build wealth and help meet financial goals.
Standard 2. Evaluate investment alternatives.
Standard 3. Demonstrate how to buy and sell investments.
Standard 4. Investigate how agencies protect investors and regulate financial markets and products.
Risk Management and Insurance (E)
Overall Competency: Apply appropriate and cost-effective risk management strategies.
Standard 1. Identify common types of risks and basic risk management methods.
Standard 2. Justify reasons to use property and liability insurance.
Standard 3. Justify reasons to use health, disability, long-term care and life insurance.
Financial Decision Making (A)
Overall Competency: Apply reliable information and systematic decision making to personal financial decisions.
Standard 1. Recognize the responsibilities associated with personal financial decisions.
Standard 2. Use reliable resources when making financial decisions.
Standard 3. Summarize major consumer protection laws.
Standard 4. Make criterion-based financial decisions by systematically considering alternatives and consequences.
Standard 5. Apply communication strategies when discussing financial issues.
Standard 6. Analyze the requirements of contractual obligations.
Standard 7. Control personal information.
Standard 8. Use a personal financial plan.