South Carolina
9th-12th Grade
State Standards
Look below to see how Banzai's courses, worksheets, activities, and games align with the Personal Finance Code: 5141 for 9th-12th Grade. Use the filters to change the location, set of standards, and grade level. Note, any one activity listed will satisfy the associated competency.
5141: PERSONAL FINANCE
A: MANAGING PERSONAL FINANCES: The student will analyze how human behaviors impact financial decisions.
Standard
Defined by Personal Finance Code: 5141
Banzai Solutions
*Any of the activities listed will satisfy the standard
1: Explain the importance of taking responsibility for personal financial decisions.
2: Apply decision-making skills to make personal financial choices. (e.g., needs and wants, cost-benefit analysis, SMART Goals).
3: Apply strategies for making informed purchasing decisions.
4: Describe the importance of budgeting.
5: Analyze how social media marketing is designed to encourage spending.
6: Investigate methods to safeguard financial information against technology-based attacks (e.g., privacy infringement, identity theft, fraud).
B: UNDERSTANDING INSURANCE AND RISK: Students will demonstrate knowledge of insurance and the basics of risk management.
Standard
Defined by Personal Finance Code: 5141
Banzai Solutions
*Any of the activities listed will satisfy the standard
1: Define the principles of insurance and fundamental insurance terminology (e.g., claim, beneficiary, deductible, policy, premium, insured).
2: Describe risk management methods: risk avoidance, reduction, assumption, and transfer.
3: Explain personal auto policy terms and features (e.g., liability, deductible, comprehensive, collision, underinsured, uninsured).
4: Analyze how risk and other factors affect insurance premiums (e.g., driving record, driver's age, type of vehicle, coverage limits).
5: Identify the purpose and features of health insurance (e.g., copay, covered/non-covered expenses, deductible, medical expenses, out-of-pocket costs, pre-existing condition).
6: Compare different types of life insurance products (e.g., term, whole life, variable life).
Under Development
7: Investigate the features and benefits of other insurance products, including renters, long-term disability, and liability.
C: UTILIZING BANKING SERVICES: The students will demonstrate knowledge of banking services and procedures.
Standard
Defined by Personal Finance Code: 5141
Banzai Solutions
*Any of the activities listed will satisfy the standard
1: Evaluate the services offered at various financial institutions.
2: Explain methods used for opening and managing checking and savings accounts.
3: Identify the components of a bank statement.
4: Reconcile a checking account.
5: Describe different fees and incentives that may be associated with online, mobile, and traditional banking.
6: Explain how Internet access and technology have impacted banking services.
7: Differentiate among types and regulations of electronic monetary transactions (e.g., e-checks, EFT).
8: Compare modern payment services between parties (e.g., Peer 2 Peer, digital wallet).
D: MANAGING CREDIT: Students will demonstrate an understanding of the various types of debt and methods of managing personal credit.
Standard
Defined by Personal Finance Code: 5141
Banzai Solutions
*Any of the activities listed will satisfy the standard
1: Identify types and sources of credit/debt (e.g., credit card, auto loans/leases, mortgages, student loans).
2: Evaluate the costs and benefits of using credit, including interest rates, terms, fees and their effect on credit scores.
3: Explain how the components of a credit score and a credit profile are determined.
4: Explain consumers' rights and responsibilities and the process for disputing billing errors using various consumer protection laws. (e.g., Fair Credit Reporting Act, bankruptcy, Equal Credit Opportunity Act)
5: Identify high risk strategies for repayment and ways to avoid financial pitfalls (e.g., payday loans, over-extended credit, and bankruptcy).
6: Complete a loan application and evaluate an amortization schedule.
7: Calculate payment schedules for a loan using spreadsheets, calculators, and/or online tools.
E: FINANCING EDUCATION AND TRAINING: Students will demonstrate knowledge of how to financially prepare for post-secondary education and training.
Standard
Defined by Personal Finance Code: 5141
Banzai Solutions
*Any of the activities listed will satisfy the standard
1: Compare the various costs associated with post-secondary education or training.
2: Identify sources of financial aid.
3: Explain how to apply for financial aid for post-secondary education and training.
4: Compare the impact of various education funding options (e.g., scholarships, grants, loans, work-study) on net cost.
5: Analyze the FAFSA (Free Application for Federal Student Aid) process and its impact on student financial aid.
6: Evaluate the characteristics of different types of student loans and their various repayment options.
7: Describe investment options to pay for post-secondary education costs (e.g., 529 Plan, Coverdell).
F: UNDERSTANDING TAXES: Students will examine the impact of taxes on personal finances.
Standard
Defined by Personal Finance Code: 5141
Banzai Solutions
*Any of the activities listed will satisfy the standard
1: Define basic tax terminology (e.g., taxable income, tax credits, exemptions, deductions, itemized deductions, inheritance/estate, withholdings).
2: Explain the purposes and types of taxes at various levels of government in the United States.
3: Compute local taxes on products and services.
4: Analyze tax forms and their purpose, to include W-2, 1099, W-4, and I-9 forms.
5: Evaluate how taxes, government transfer payments, and employee benefits relate to disposable income.
6: Compute gross earnings, payroll deductions, and net pay.
7: Demonstrate how to fill out and file a federal and/or state individual income tax return.
G: BUILDING FINANCIAL SECURITY: Students will develop skills to build financial security.
Standard
Defined by Personal Finance Code: 5141
Banzai Solutions
*Any of the activities listed will satisfy the standard
1: Define basic investment concepts (e.g., stocks, bonds, mutual funds, Rule of 72, simple and compound interest).
2: Explain the relationship between risk and the rate of return and the importance of risk management.
3: Identify funding requirements for different stages of life (e.g., post-secondary, parenthood, housing, retirement).
4: Analyze the impact of Social Security benefits on retirement planning.
5: Differentiate types of long-term retirement investments (e.g., Roth and traditional IRA's, 403(B), 401(K), defined-benefit plans, annuities, and target date funds).
6: Describe types and purposes of estate planning (wills, trusts, gifts, and charitable contributions).
Under Development
7: Develop a personal investment portfolio.
8: Explain the roles of insurance in financial planning.