Washington
10th Grade
State Standards
10.SSSpending and Saving
Develop a plan for spending and saving.
1Create a plan to manage spending and achieve financial goals.
2Determine if and how charitable giving fits into a spending plan.
Develop a system for keeping and using financial records.
3Compare checking, savings, and credit card accounts that financial institutions provide.
Describe how to use different payment methods.
4Summarize the risks and protections of checks, prepaid cards, debit cards, gift cards, and online or mobile payment systems.
5Compare the features and costs of personal checking accounts offered by different financial institutions.
6Identify the costs of cashing a check with various third parties, such as banks and credit unions, check-cashing services, and retail outlets.
Apply consumer skills to spending and saving decisions.
7Demonstrate how to use comparison shopping skills to buy or finance a major purchase.
8Research the cost of expenses associated with postsecondary education and the financial impact of dual-credit or technical training opportunities in high school.
9Research the costs and benefits of a new versus used car (e.g., maintenance, safety, financing, and gas mileage) versus alternative forms of transportation.
10Evaluate specific charities based on purpose, management, outcomes or results, and reputation.
10.CDCredit and Debt
Analyze the costs and benefits of various types of credit.
1Compare the cost of borrowing $1,000 by means of different consumer credit options.
2Compare various types of student loans (public and private) as a means of paying for postsecondary education.
3Explore alternatives to loans such as educational laddering opportunities (i.e., acquiring skills incrementally as a person moves along their career path) as a means of paying for postsecondary education.
10.EIEmployment and Income
Explore job and career options.
1Identify how non-income factors such as child-care options, cost of living, and work conditions can influence job choice.
2Outline a career plan that aligns with personal interests, financial goals, and desired lifestyle.
3Develop a résumé and cover letter for a specific job of interest.
Compare sources of personal income and compensation.
4Give examples of employee benefits and explain why they are forms of compensation.
Analyze factors that affect net income.
5Complete IRS form W-4 (Employee's Withholding Allowance Certificate) to determine the optimal amount to withhold for personal income tax.
6Differentiate between gross, net, and taxable income.
7Complete IRS Form 1040EZ, Form 1040, and applicable state income tax forms.
10.IInvesting
Explain how investing may build wealth and help meet financial goals.
1Define the time value of money and explain how money invested regularly over time may grow exponentially.
2aGiven a rate of return and number of years, calculate the future value of a lump sum investment.
2bGiven a rate of return and number of years, calculate the lump sum amount an investor must invest today to reach a specific financial goal at a future date.
2cGiven a rate of return, number of years, and frequency of periodic payments, calculate the end (future) value of an investment.
2dGiven a rate of return, number of years, and frequency of payments, calculate the periodic payment amount needed to reach a specific investment goal.
3Compare strategies for investing as part of a comprehensive financial plan.
4Illustrate how the time value of money applies to retirement planning.
Evaluate investment alternatives.
5Compare types of investments appropriate for different objectives such as liquidity, income, and growth.
Demonstrate how to buy and sell investments.
6Give examples of how economic conditions and business factors affect the market value of a stock.
10.RMRisk Management and Insurance
Identify common types of risks and basic risk management methods.
1Identify circumstances in which self-insurance is appropriate.
2Give examples of insurance for the types of risks that young adults might face.
Justify reasons to use property and liability insurance.
3Differentiate among the main types of auto insurance coverage.
4List factors that determine auto insurance premiums and the factors that cause them to change.
5Compare the legal minimum amounts of auto insurance coverage required in Washington state and the recommended optimal amounts.
10.FDFinancial Decision-Making
Recognize the responsibilities associated with personal financial decisions.
1Predict how individual responsibility for financial well-being will change over a lifetime with changing life circumstances.
2Compare how financial responsibility is different for individuals with and without dependents.
3Consider how personal financial decisions might affect family members.
4Consider different definitions of wealth based on personal values, priorities, and goals.
Use reliable resources when making financial decisions.
5Evaluate whether financial information is objective, accurate, and current.
6List factors to consider when selecting a financial professional.
Make criterion-based financial decisions by systematically considering alternatives and consequences.
7Develop a contingency plan to handle events (e.g., car breakdown or phone loss) that might affect personal finances on short notice.
Control personal information.
8Understand identity theft prevention strategies.
Use a personal financial plan or budget.
9List the main components of a simple will.
10Explain the purpose of a durable power of attorney for health care (living will).