Arkansas Financial Literacy Standards: Helpful Teacher Resource

Arkansas Personal Finance Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the Arkansas Personal Finance Standards.

Legend:

Long-Term Game
Comprehensive Chapter
Short Lesson
Interactive Calculator
Includes Automatically-Graded Assessment

Standard	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Employment/Income
Explain factors that influence career and job selection	Lesson – Planning Your Career Path
Determine ways to locate and apply for a job by • Completing a job search in an area of interest • Completing a job application, cover letter, resume, and follow-upletter	Lesson – Biggest Mistakes of Job Seekers Lesson – How to Get Past Resume Software
Evaluate ways to make a positive impressions during a job interview	Lesson – Acing Job Interviews
Compare job offers for employee benefits (e.g., time, income, insurance, retirement, etc.)	Lesson – What’s in Your Compensation Package?
Summarize skills needed to be successful in the workplace • Communication • Time Management • Basic Employer Expectations	Lesson – The Ultimate Employee Guide
Represent and analyze various types of income deductions and how they impact income (e.g., payroll taxes, deductions, gross pay, net pay	Budget Game – Core Concept
Analyze differences among salary, hourly, commission, and overtime pay	Lesson – What’s in Your Compensation Package?
College and Career Planning	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explore potential careers (including an employment forecast) and the steps needed to achieve them based on interests and/or talents	Lesson – Planning Your Career Path
Explore opportunities for internships, job shadowing, and real-world experiences to determining future career paths	Lesson – Are Internships Worth It?
Credit	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Identify types of fraud and credit abuse and develop strategies to protect oneself from identity fraud and theft	Lesson – How to Avoid Identity Theft, Scams & Fraud
Discuss common crimes against consumers and examine federal consumer protection laws	Lesson – Ethics In Marketing Lesson – How to Avoid Identity Theft, Scams & Fraud
Compare and contrast the advantages and disadvantages of renting versus owning a home (e.g., costs, taxes, insurance)	Activity – Rent or Buy: Which is Right for You? Activity – Find Out Your Monthly Home Budget Lesson – Mortgage Options for First-Time Homebuyers Lesson – How to Use Debt to Your Advantage Lesson – What Damage Does Home Insurance Cover? Lesson – Rules for Renters & Homeowners Lesson – What’s Not Covered in Renter’s Insurance?
Analyze factors that determining/influence mortgage costs (e.g., interest rate, term length, credit rating)	Lesson – Demystifying the Impact of Interest Rates Activity – Watch How Your Savings Could Grow Lesson – Mortgage Options for First-Time Homebuyers Lesson – What Your Credit Report Says About You Lesson – Demystifying the Impact of Interest Rates Lesson – The Business Cycle
Understand different components of credit by • Comparing and contrasting sources of credit (e.g., car loans, student loans, credit cards) • Discussing the establishment and use of credit • Identifying the factors that contribute to a credit score • Calculating the actual costs associated with credit • Discussing methods of solving credit problems • Evaluating the risks associated with overextending credit	Budget Game – Core Component Activity – Use the Credit Card Payments Calculator Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – What Your Credit Report Says About You Lesson – How Borrowers Manage Personal Debt Lesson – How to Negotiate With Creditors Lesson – What Is Bankruptcy?
Understand the different components of bankruptcy by • Identifying and evaluating types of bankruptcy • Examining the impact of declaring bankruptcy and how it may affect future financial opportunities	Lesson – What Is Bankruptcy? Lesson – Getting Help With Debt Repayment
Understand the different components of loans by • Differentiating between the different types of loans (e.g., payday, auto, home, personal, student) • Examining the lending process from application to approval • Calculating true costs associated with loans (e.g., term length, interest rate) • Understanding the factors that contribute to different interest rates • Evaluating the implications of obtaining and/or defaulting on a loan	Lesson – What to Do When You Need Money Fast Lesson – Credit Cards: Terms, Fees, and More Lesson – A Beginner’s Guide to Borrowing Wisely
Money Management	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Compare types of banking institutions including products and services available	Lesson – Choosing the Best Banking Option for You
Explore the process of opening and managing different types of accounts (e.g., checking, savings)	Lesson – Choosing the Best Banking Option for You Lesson – How Debit Cards Work
Analyze the advantages and disadvantages of various retirement plans (e.g., pension, 401K, IRA, social security)	Lesson – What is Wealth? Lesson – Preparing For Retirement
Analyze expenses to create a household budget including, but not limited to, housing, utilities, food, saving, insurance, taxes, and charitable giving	Budget Game – Core Component Lesson – Break Free From Money Stress with a Budget Lesson – Proven Techniques to Stop Overspending
Examine the influences on financial planning decisions (e.g., needs vs. wants, priorities, values, stages of life, estate planning)	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Preparing for spending shocks Lesson – The Secret to a Comfortable Retirement Lesson – Evaluating Big-Ticket Purchases Lesson – The Cost of Raising a Family Activity – Use the Net Worth Calculator
Insurance	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Analyze the need for insurance in managing risk and how risk affects cost	Lesson – Knowing Your Risks & Risk Tolerance Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Life Insurance Lesson – Why Health Insurance is So Expensive
Investigate the relationship between insurance premiums and deductibles	Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive
Evaluate auto insurance options and factors affecting cost of coverage including split limit	Lesson – Car Insurance: How to Lower Your Rates Lesson – Buying a car
Assess health related insurance options and types of coverage (e.g., health, dental, vision, stroke/heart disease, cancer, accident, short-term/long-term disability, long-term care)	Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net
Analyze various types of life insurance (e.g., term, whole)	Lesson – Life Insurance: The Ultimate Safety Net
Investigate property insurance and potential riders including, but not limited to, homeowner’s renter’s, and mortgage	Lesson – What Damage Does Home Insurance Cover? Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Rules for Renters & Homeowners
Savings/Investing	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Compare the effects of interest rates as applied to saving and borrowing money	Lesson – The Importance of Interest Rates Lesson – Time Value of Money Activity – Use the Credit Card Payments Calculator Activity – Watch How Your Savings Could Grow Activity – Use the Net Worth Calculator
Examine how consumers are affected by raising and lowering interest rates	Lesson – The Importance of Interest Rates Lesson – Government impact on the economy Lesson – Inflation Lesson – What Is Monetary Policy?
Calculate simple and compound interest and explain the difference between the two	Lesson – Demystifying the Impact of Interest Rates Activity – Watch How Your Savings Could Grow
Analyze the relationship between risk and return	Stock Game – Core Component Lesson – Knowing Your Risks & Risk Tolerance Lesson – How to Develop an Investing Strategy Activity – Model Your Financial Future
Compare the characteristics of saving tools (e.g., liquidity, interest rates, term length) to determine how to best meet a financial goal	Watch Video – Investment Research Lesson – Building a diversified portfolio Lesson – How to Develop an Investing Strategy Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Investing101 – Chapter 1: Introduction to Investing Activity – Model Your Financial Future
Interpret the role of goal setting as an integral part of financial planning and construct a well written goal	Lesson – Proven Techniques to Stop Overspending Lesson – Preparing for spending shocks Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Evaluating Big-Ticket Purchases
Research different types of investments and consider the importance of diversification • Annuities • Bonds • Money Market Funds • Mutual Funds • Real Estate • Stocks	Stock Game – Core Component Lesson – A Beginner’s Guide to Investing in Stocks Lesson – A Simple Explanation of ETFs Lesson – The Pros and Cons of Mutual Funds Lesson – Getting Started with Bond Investing Lesson – Building a diversified portfolio Watch Video – Investment Research Lesson – How to Develop an Investing Strategy Activity – Net Present Value (NPV) Calculator Activity – Model Your Financial Future Investing101 – Chapter 1: Introduction to Investing Investing101 – Chapter 2: How The Stock Market Works and Why It Works Investing101 – Chapter 6: Fundamental Analysis: Understanding Earnings and Cash Flow
Understand the regulation of savings and investments	Lesson – A Strategy to Build Wealth, Not Debt Lesson – What is Money? Activity – Use the Net Worth Calculator