Indiana Financial Literacy Standards: Helpful Teacher Resource

Indiana Department of Education Academic Standards Course Framework

Find out which of our lessons or games reinforce the individual
knowledge statements from the Indiana Personal Financial Responsibility Course Framework

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	Includes Automatically-Graded Assessment
Financial Responsibility and Decision Making
Explain how individuals demonstrate responsibility for financial well-being over a lifetime.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – The Secret to a Comfortable Retirement Lesson – Planning Your Career Path Lesson – A Strategy to Build Wealth, Not Debt
Analyze ways financial responsibility is different for individuals with and without dependents.	Lesson – The Cost of Raising a Family
Analyze financial information for objectivity, accuracy, relevancy to given needs, and currency	Lesson – What makes a contract valid Lesson – How to Read an Income Statement Lesson – How to Read a Balance Sheet Lesson – The Cash Flow Statement Explained Lesson – Tame Your Financial Paperwork
Investigate current types of consumer fraud, including online scams	Lesson – How to Avoid Identity Theft, Scams and Fraud
Analyze consumer protection laws for the issues they address and the safeguards they provide.	Lesson – Protect Yourself as a Consumer
Demonstrate steps for resolving a consumer complaint.	Lesson – Protect Yourself as a Consumer
Set measurable short-term, medium-term, and long-term financial goals.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – The Secret to a Comfortable Retirement Lesson – Planning Your Career Path Lesson – A Strategy to Build Wealth, Not Debt
Evaluate the results of financial decisions.	Stock Game – Core Component Budget Game – Core Component
Apply systematic decision making to long-term goals.	Lesson – How to Prepare for Unexpected Expenses Lesson – The Business Cycle Lesson – Demystifying the Impact of Interest Rates Lesson – Evaluating Big-Ticket Purchases
Compare and contrast the benefits of sharing financial goals and personal finance information with a potential partner before forming a partnership	Lesson – The Cost of Raising a Family
Describe essential elements of a contract between individuals and between individuals and businesses.	Lesson – What makes a contract valid
Describe the actions a victim of identity theft can take to restore personal security	Lesson – How to Avoid Identity Theft, Scams and Fraud
Relating Income and Careers
Analyze ways economic, social, cultural, education and political conditions can affect income and career potential.	Lesson – The Business Cycle Lesson – Government Impact on the Economy Lesson – Demystifying the Impact of Interest Rates Lesson – Analyzing Consumer Behavior Lesson – What Is the Product Life Cycle?
Analyze the financial risks and benefits of entrepreneurship as a career choice	Lesson – Starting a Business 101 Lesson – What is Entrepreneurship?
Compare and contrast wage, gift, rent, interest, dividend, capital gain, tip, commission, and business profit as sources of personal income.	Lesson – What is Money? Lesson – How Debit Cards Work Lesson – What’s in Your Compensation Package?
Analyze the advantages and disadvantages of participation in government assistance programs.	Lesson – The Anatomy of Unemployment
Analyze typical employee benefits and explain why they are a form of compensation.	Lesson – The Ultimate Employee Guide Lesson – What’s in Your Compensation Package?
Describe benefits of employer sponsored savings plans and other personal options for shifting current income to the future.	Lesson – The Ultimate Employee Guide Lesson – What’s in Your Compensation Package? Lesson – A Strategy to Build Wealth, Not Debt Lesson – What is Wealth? Lesson – The Secret to a Comfortable Retirement
Planning and Managing Money
Create a basic budget with categories for income, taxes, planned savings, and fixed and variable expenses.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Lesson – Break Free From Money Stress with a Budget Lesson – Proven Techniques to Stop Overspending
Analyze and adjust budget categories to manage spending and achieve financial goals.	Lesson – Lesson – Break Free From Money Stress with a Budget
Develop a personal financial plan that shows allocation of income, spending, saving, investing and sharing/giving over a year-long time span.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Lesson – Break Free From Money Stress with a Budget Lesson – Proven Techniques to Stop Overspending Lesson – Achieve Financial Goals with a Spending Plan
Analyze a plan to secure funding for a financial goal (such as college, major consumer purchases, etc.).	Lesson – How to Prepare for Unexpected Expenses Lesson – Evaluating Big-Ticket Purchases Lesson – How Do You Stop Impulse Purchases? Lesson – Mortgage Options for First-Time Homebuyers Lesson – Financing Your Education Lesson – The Car Buying Checklist Activity – Rent or Buy: Which is Right for You? Activity – Find Out Your Monthly Home Budget
Utilize a system to record income and spending for categories such as purchases, services, and taxes.	Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Proven Techniques to Stop Overspending
Demonstrate recordkeeping that utilizes digital financial management systems.	Lesson – Receipts – Keeping and Tossing Lesson – Balance Your Books in 10-Minutes
Evaluate different payment methods, including cash, checks, stored-value cards, debit cards, credit cards, and electronic or online payment systems	Lesson – What is Money? Lesson – How Debit Cards Work Lesson – Credit Cards: Terms, Fees, and More Lesson – What to Do When You Need Money Fast
Demonstrate skill in basic financial tasks (such as bill payments, check writing, reconciling checking and debit account statements, and monitoring printed and online account statements for accuracy).	Budget Game – Core Component
Investigate and demonstrate ability to apply for financial assistance (such as FAFSA, 21st Century Scholars, scholarships, grants, and aid from colleges and universities) for post-secondary education.	Lesson – Financing Your Education Lesson – Go to College or Start Working?
Evaluate impact of external factors (such as marketing, advertising and the economy) on spending decisions.	Lesson – Lesson – Break Free From Money Stress with a Budget Lesson – How Do You Stop Impulse Purchases? Lesson – Analyzing Consumer Behavior
Justify consumer buying decisions by evaluating external factors.	Lesson – Lesson – Break Free From Money Stress with a Budget Lesson – How Do You Stop Impulse Purchases?
Evaluate opportunity costs (such as owning versus renting a house, purchasing or leasing an auto).	Activity – Rent or Buy: Which is Right for You? Activity – Calculate Your Car Loan Payments Lesson – The Car Buying Checklist Lesson – What is Opportunity Cost?
Recognize potential threats (such as identity fraud, scams, theft, phishing, spam, unethical internet practices) to sound financial decisions.	Lesson – Knowing Your Risks and Risk Tolerances Lesson – How to Avoid Identity Theft, Scams and Fraud Lesson – Protect Yourself as a Consumer Lesson – How to Prepare for Unexpected Expenses
Demonstrate budgeting financial and other resources to make contributions to a charitable organization.	Budget Game – Core Component Lesson – A Guide to Effective Charitable Donations
Contrast wills, “living wills,” trusts and other ways estates can be transferred	Lesson – Who Gets Your Stuff When You’re Gone?
Evaluate estate planning tools (such as pensions, retirements, social security, trusts, and annuities)	Lesson – The Secret to a Comfortable Retirement Lesson – A Strategy to Build Wealth, Not Debt Lesson – What’s in Your Compensation Package? Lesson – Life Insurance: The Ultimate Safety Net
Managing Credit and Debt
Evaluate the cost of borrowing a set amount of money using various types of credit.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage Activity – Calculate the True Cost of Credit Card Debt
Explain how grace periods, methods of calculating interest, and fees affect borrowing costs.	Lesson – Credit Cards: Terms, Fees, and More
Apply systematic decision making to identify the most cost-effective option for making a purchase.	Lesson – Evaluating Big-Ticket Purchases Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Proven Techniques to Stop Overspending Activity – Rent or Buy: Which is Right for You?
Analyze the effect of positive and negative credit reports on credit worthiness.	Lesson – What Your Credit Report Says About You
Illustrate steps to overcome a negative credit report and improve a personal financial future.	Lesson – What Your Credit Report Says About You
Evaluate the effect of living beyond one’s financial resources.	Lesson – How to Use Debt to Your Advantage Lesson – What Is Bankruptcy? Lesson – How Borrowers Manage Personal Debt Lesson – Debt Relief: Is Consolidation the Answer? Lesson – How to Negotiate With Creditors
Analyze actions that a consumer can take to reduce or better manage excessive debt.	Lesson – How to Use Debt to Your Advantage Lesson – What Is Bankruptcy? Lesson – How Borrowers Manage Personal Debt Lesson – Debt Relief: Is Consolidation the Answer? Lesson – How to Negotiate With Creditors
Analyze online and printed resources for up-to-date information about consumer credit rights.	Lesson – How Borrowers Manage Personal Debt
Describe debtors’ and creditors’ rights related to debt that is not paid.	Lesson – What Is Bankruptcy? Lesson – How Borrowers Manage Personal Debt Lesson – Debt Relief: Is Consolidation the Answer? Lesson – How to Negotiate With Creditors
Risk Management and Insurance
Describe ways people can manage risk through avoidance, reduction, retention, assumption, and transfer of risk.	Lesson – Knowing Your Risks and Risk Tolerance Lesson – What is Diversification and How to Spread Your Risk
Analyze the types and amounts of coverage, and features needed, for various stages of life for health, property, life, disability, and liability insurance.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – Why Health Insurance is So Expensive Lesson – Car Insurance: How to Lower Your Rates Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover?
Analyze factors that can reduce or increase the amount and type of insurance coverage needed.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – Why Health Insurance is So Expensive Lesson – Car Insurance: How to Lower Your Rates Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover?
Analyze factors that affect cost of insurance for various types of insurance.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – Why Health Insurance is So Expensive Lesson – Car Insurance: How to Lower Your Rates Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover?
Saving and Investing
Analyze effect of saving strategies, including “pay yourself first,” payroll deduction, automatic savings options, and reflective spending practices on financial well being.	Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Proven Techniques to Stop Overspending Lesson – A Strategy to Build Wealth, Not Debt Lesson – The Secret to a Comfortable Retirement Lesson – What’s in Your Compensation Package?
Compare the interest generated by simple and compound interest at various rates.	Lesson – Demystifying the Impact of Interest Rates Activity – Watch How Your Savings Could Grow
Compare various investing strategies for their potential to build wealth.	Investing101 Certification Stock Game – Core Component Lesson – How to Develop an Investing Strategy Activity – Model Your Financial Future
Analyze investment possibilities utilizing the principles of time value of money and opportunity costs.	Lesson – Time Value of Money Lesson – What is Opportunity Cost? Lesson – How to Develop an Investing Strategy Lesson – What is Diversification and How to Spread Your Risk
Calculate the end value of lump sum and periodic investments.	Activity – Model Your Financial Future Activity – Watch How Your Savings Could Grow
Analyze the characteristics (such as earnings, risks, liquidity) and benefits of various saving and investment options in the current economy.	Lesson – The Business Cycle Lesson – Bulding a Diversified Portfolio Lesson – How to Develop an Investing Strategy Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Analyze investment alternatives utilizing principles of inflation and other economic factors.	Investing101 Certification Stock Game – Core Component Lesson – How to Develop an Investing Strategy Lesson – What is Diversification and How to Spread Your Risk Lesson – Inflation Lesson – The Business Cycle Activity – Model Your Financial Future
Compare advantages and disadvantages of buying and selling investments through various channels, including financial advisors, investment clubs, and online brokers.	Investing101 Certification Stock Game – Core Component Lesson – How to Develop an Investing Strategy Lesson – What is Diversification and How to Spread Your Risk Lesson – Brokerages
Compare the investment objectives and historical rates of return of various Investment options.	Investing101 Certification Stock Game – Core Component Lesson – How to Develop an Investing Strategy Lesson – What is Diversification and How to Spread Your Risk Lesson – Why Invest in Stocks vs. Keeping in Savings? Lesson – A Simple Explanation of ETFs Lesson – The Pros and Cons of Mutual Funds Lesson – Getting Started with Bond Investing
Analyze the rate of return on investments using time value of money and economic conditions as factors.	Investing101 Certification Stock Game – Core Component Lesson – How to Develop an Investing Strategy Lesson – What is Diversification and How to Spread Your Risk Lesson – Time Value of Money Activity – Model Your Financial Future Activity – Net Present Value (NPV) Calculator
Calculate the amount of taxes on investments and income tax-free earnings.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips and Tricks
Explain how federal and state financial regulatory agencies decrease savings and investing risks.	Lesson – Knowing Your Risks and Risk Tolerance Lesson – Government Impact on the Economy Lesson – Why You Should Care About the Fed Lesson – What Is Monetary Policy?