Wisconsin
9th-12th Grades
State Standards
Personal Financial Literacy
FMFinancial Mindset
FM1Students will develop strategies to make intentional financial decisions throughout their lifespan.
FM1.aCritical Consumer
FM1.a.hSummarize consumer rights, responsibilities, protections, and consumer vigilance (e.g., contesting incorrect billing or registering a consumer complaint). Analyze and apply multiple sources of information when making consumer decisions (e.g., advertisements, reviews, interest rates, applicable fees, consumer movements, or choice). Analyze the financial impact of advertising including techniques, potential for deception along with the influence of promotions, packaging, and placement.
FM1.bFunctions and Structure of Money
FM1.b.hEvaluate the functions and value of money in the United States (e.g., how the value is based upon the strength and credit of the government/issuing body). Identify the function of the foreign exchange market to establish a relative value of different currencies and the process that changes in currency values may have on purchasing power in relationship to the cost of goods and services in a global marketplace.
FM1.cOpportunity Costs
FM1.c.hPerform a cost-benefit analysis on a real-world situation.
FM2Students will analyze how aspects of financial psychology impact financial well-being.
FM2.aValues and Behavior
FM2.a.hAssess the impact of individual values and behaviors on financial decisions and goals.
FM2.bEmotional Influences
FM2.b.hEvaluate strategies individuals use to manage emotions impacting financial decisions.
FM2.cExternal Influences
FM2.c.hCritique a financial plan and identify areas that may have been influenced by external sources.
FM2.dFinancial Goals
FM2.d.hDistinguish how an investment plan that incorporates a goal development strategy reflects various life factors (e.g., age, personal values, income, liabilities, assets, goals, family size, risk tolerance, or net worth).
EEEducation and Employment
EE1Students will compare the effect of personal income on their goals.
EE1.aCareer Development
EE1.a.hPrioritize potential occupations based upon the results of a career assessment or interest inventory. Create a career development plan relative to personal interests, aptitudes, and potential earnings. Explain how career development goals fit with personal skills and attributes, current activities, and postsecondary plan.
MMMoney Management
MM1Students will demonstrate their ability to use money management skills and strategies.
MM1.aBudgeting
MM1.a.hPrepare a budget or spending plan that depicts varying sources of income, a planned saving strategy, taxes, and other sources of fixed and variable spending.
MM1.bFinancial Management
MM1.b.hCompare and contrast different sources of active and passive income, savings, and investment vehicles. Develop and critique short-term and long-term personal financial plans. Evaluate circumstances when an individual may want to grant representation or consult for financial advice with a financial advisor, attorney, tax advisor, or financial planner. Summarize factors to consider when seeking financial advice and services.
MM2Students will utilize financial institutions and service providers to support money management.
MM2.aFinancial Institutions and Service Providers
MM2.a.hCompare financial institutions and service providers (e.g., banks, credit unions, investment and brokerage firms, mortgage brokers, payday lenders, online financial institutions, or loan agencies). Analyze the reasons for regulation and the roles of financial regulators [e.g., FDIC, NCUA, CFPB, Federal Reserve, OCC, WDFI, WOCI, WDATCP].
MM2.bPayment Types
MM2.b.hAssess the advantages and disadvantages of digital banking (e.g., online banking, bill pay, transfers, or checking account transactions). Summarize the tax and legal implications that require you to maintain personal records of significant financial transactions.
MM2.cAlternative Financial Currency
MM2.c.hCompare online and mobile systems or applications used as a means of alternative currency.
SISaving and Investing
SI1Students will explore savings concepts and apply this knowledge to attain financial security.
SI1.aSaving Principles
SI1.a.hDemonstrate how to manage savings accounts—both manually and electronically, including reconciliation. Determine the opportunity cost in relation to a saving plan (e.g., inflation or taxes). Compare and contrast the benefits of pay yourself first and living paycheck to paycheck strategies on financial outcomes.
SI1.bSavings Types and Features
SI1.b.hCompare and contrast characteristics of basic savings options (e.g., savings accounts, money market accounts, or certificates of deposit). Explain the impact of electronic funds transfer (EFT) services on savings accounts.
SI1.cSaving Goal Planning
SI1.c.hDetermine the best options to achieve specific short- and long-term personal saving goals. Compare and contrast financial services and products to achieve personal saving goals.
SI1.dSaving Risk and Reward
SI1.d.hCompare and contrast the opportunity cost and reward of basic saving options (e.g., savings accounts, money market accounts, or certificates of deposit). Evaluate the effect of compound interest on savings options.
SI1.eRole of Government in Saving
SI1.e.hExplain the role that government agencies play in protecting deposits (e.g., FDIC, NCUA).