New Jersey
6th-8th Grades
State Standards
9.1 Personal Financial Literacy by the End of Grade 8
9.1.8.CRCivic Financial Responsibility
9.1.8.CR.1Compare and contrast the role of philanthropy, volunteer service, and charities in community development and the quality of life in a variety of cultures.
9.1.8.CR.2Compare various ways to give back through strengths, passions, goals, and other personal factors.
9.1.8.CR.3Relate the importance of consumer, business, and government responsibility to the economy and personal finance.
9.1.8.CR.4Examine the implications of legal and ethical behaviors when making financial decisions.
9.1.8.CDMCredit and Debt Management
9.1.8.CDM.1Compare and contrast the use of credit cards and debit cards for specific purchases and the advantages and disadvantages of using each.
9.1.8.CDM.2Demonstrate an understanding of the terminology associated with different types of credit (e.g., credit cards, installment loans, mortgages, lines of credit) and compare and calculate the interest rates associated with each.
9.1.8.CDM.3Compare and contrast loan management strategies, including interest charges and total principal repayment costs.
9.1.8.CDM.4Evaluate the application process for different types of loans (e.g., credit card, mortgage, student loans).
9.1.8.CPCredit Profile
9.1.8.CP.1Compare prices for the same goods or services.
9.1.8.CP.2Analyze how spending habits affect one's ability to save.
9.1.8.CP.3Explain the purpose of a credit score and credit record, the factors and impact of credit scores.
9.1.8.CP.4Summarize borrower's credit report rights.
9.1.8.CP.5Compare the financial products and services available to borrowers relative to their credit worthiness.
9.1.8.EGEconomic and Government Influences
9.1.8.EG.1Explain how taxes affect disposable income and the difference between net and gross income.
9.1.8.EG.2Explain why various sources of income are taxed differently.
9.1.8.EG.3Explain the concept and forms of taxation and evaluate how local, state and federal governments use taxes to fund public activities and initiatives.
9.1.8.EG.4Identify and explain the consequences of breaking federal and/or state employment or financial laws.
9.1.8.EG.5Interpret how changing economic and societal needs influence employment trends and future education.
9.1.8.EG.6Explain the economic principle of the circular flow of money in different situations regarding buying products or services from a local or national business and buying imported or domestic goods.
9.1.8.EG.7Explain the effect of the economy (e.g., inflation, unemployment) on personal income, individual and family security, and consumer decisions.
9.1.8.EG.8Analyze the impact of currency rates over a period of time and the impact on trade, employment, and income.
9.1.8.EG.9Identify types of consumer fraud, the procedures for reporting fraud, the specific consumer protection laws, and the issues they address.
9.1.8.FIFinancial Institutions
9.1.8.FI.1Identify the factors to consider when selecting various financial service providers.
9.1.8.FI.2Determine the most appropriate use of various financial products and services to borrow and access money for making purchases (e.g., ATM, debit cards, credit cards, check books, online/mobile banking).
9.1.8.FI.3Evaluate the most appropriate financial institutions to assist with meeting various personal financial needs and goals.
9.1.8.FI.4Analyze the interest rates and fees associated with financial products.
9.1.8.FPFinancial Psychology
9.1.8.FP.1Describe the impact of personal values on various financial scenarios.
9.1.8.FP.2Evaluate the role of emotions, attitudes, and behavior (rational and irrational) in making financial decisions.
9.1.8.FP.3Explain how self-regulation is important to managing money (e.g., delayed gratification, impulse buying, peer pressure, etc.).
9.1.8.FP.4Analyze how familial and cultural values influence savings rates, spending, and other financial decisions.
9.1.8.FP.5Determine how spending, investing, and using credit wisely contributes to financial well-being.
9.1.8.FP.6Compare and contrast advertising messages to understand what they are trying to accomplish.
9.1.8.FP.7Identify the techniques and effects of deceptive advertising.
9.1.8.PBPlanning and Budgeting
9.1.8.PB.1Predict future expenses or opportunities that should be included in the budget planning process.
9.1.8.PB.2Explain how different circumstances can affect one's personal budget.
9.1.8.PB.3Explain how to create budget that aligns with financial goals.
9.1.8.PB.4Construct a simple personal savings and spending plan based on various sources of income and different stages of life (e.g. teenager, young adult, family).
9.1.8.PB.5Identify factors that affect one's goals, including peers, culture, location, and past experiences.
9.1.8.PB.6Construct a budget to save for short-term, long term, and charitable goals.
9.1.8.PB.7Brainstorm techniques that will help decrease expenses including comparison shopping, negotiating, and day-to-day expense management.
9.1.8.RMRisk Management and Insurance
9.1.8.RM.1Determine criteria for deciding the amount of insurance protection needed.
9.1.8.RM.2Analyze the need for and value of different types of insurance and the impact of deductibles in protecting assets against loss.
9.1.8.RM.3Evaluate the need for different types of warranties.
9.1.8.RM.4Explain the purpose of insurance products and the reasons for property product and liability insurance protection.