Florida Financial Literacy Standards: Helpful Teacher Resource

Florida Financial Literacy Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the 2023 Florida Social Studies Standards Financial Literacy Strand.

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
Financial Attitudes and Behaviors
Evaluate and reflect on how values affect personal financial decision-making.	Lesson – Break Free From Money Stress with a Budget Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – The Cost of Raising a Family Lesson – Evaluating Big-Ticket Purchases Lesson – How to Develop an Investing Strategy Lesson – What is Diversification & How to Spread Your Risk
Understand how cognitive biases affect personal financial decision-making.	Lesson – Spending and Savings Plans Lesson – How Do You Stop Impulse Purchases? Lesson – Classifying Products and Services
Explain that loss aversion implies that losses brought about by a decision are weighed more than the gains, which may affect the final decision.	Lesson – Risk
Explain that people place more weight on something they already have as opposed to things they do not. This endowment effect can result in people being reluctant to part with things they possess.	Lesson – What is Money? Lesson – What is Wealth? Lesson – Building Wealth
Evaluate how herd mentality affects personal financial decision-making.	Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Spending and Savings Plans
Describe how a piece of information received early, even if incorrect or irrelevant, can provide an anchor that people use when making their personal financial decisions.	Activity – Basic Research and Comparing Stocks Lesson – Consumer Rights and Responsibilities Lesson – How Do You Stop Impulse Purchases? Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Biggest Mistakes of Job Seekers
Describe how people often focus on information that confirms their original beliefs when they research information to make personal financial decisions.	Lesson – How Do You Stop Impulse Purchases? Lesson – Buying a car
Identify examples of how people are affected by present bias.	Lesson – Analyzing Consumer Behavior Lesson – Ethics in Marketing
Earning Income	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Describe how people choose jobs or careers for which they are qualified based on potential income as well as non-income factors, such as job satisfaction, independence, risk, family, or location.	Lesson – Planning Your Career Path Lesson – What’s in Your Compensation Package? Lesson – Work vs Study
Explain that people vary in their willingness to obtain more education or training because these decisions involve incurring immediate costs to obtain possible future benefits.	Lesson – Work vs Study Lesson – Planning Your Career Path
Analyze the ways that people can make more informed education, job, or career decisions by evaluating the benefits and costs of different choices.	Lesson – Planning Your Career Path Lesson – What’s in Your Compensation Package? Lesson – Work vs Study
Analyze the reasons why the wage or salary paid to workers in jobs is usually determined by the labor market.	Lesson – What’s in Your Compensation Package? Lesson – Why Do Some Jobs Pay More Than Others? Lesson – What is Economic Development?
Discuss reasons why changes in economic conditions or the labor market can cause changes in a worker’s income or may cause unemployment.	Lesson – The Business Cycle Lesson – The Anatomy of Unemployment
Explain that taxes are paid to federal, state, and local governments to fund government goods and services as well as transfer payments from government to individuals.	Lesson – Get Practice Filing a Sample 1040 Tax Return Lesson – What is Economics? Lesson – Tax Basics You Need to Know Lesson – Sales Tax: Who Pays, Collects, and Why?
Explain how interest, dividends, and capital gains are forms of income earned from financial investments.	Stock Game – Core Component Lesson – How to Develop an Investing Strategy Lesson – The Secret to a Comfortable Retirement Lesson – Is an Annuity Right for You??
Evaluate how the sources of income, amount of income, as well as the amount and type of spending affect the types and amounts of taxes paid.	Activity – Practice Filing the Form 1040 Lesson – Income Tax Filing Tips & Tricks Lesson – Uncovering Hidden Income Taxes You Owe
Describe why some people choose to become entrepreneurs as a career choice.	Lesson – Starting a Business 101 101 Lesson – What is Entrepreneurship?
Evaluate the benefits and costs of “gig” employment.	Lesson – The Ultimate Employee Guide Lesson – What’s in Your Compensation Package?
Describe how Social Security is funded and the benefit it provides to retirees.	Lesson – The Secret to a Comfortable Retirement
Identify and complete appropriate tax forms to calculate the amount of federal income tax owed.	Lesson – Get Practice Filing a Sample 1040 Tax Return
Describe the types and sources of taxes at the local level.	Lesson – Tax Basics You Need to Know Lesson – Sales Tax: Who Pays, Collects, and Why?
Buying Goods and Services	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Analyze the factors that influence a consumer’s decision-making process (e.g., the price of a good or service, the price of alternatives, income level, personal preferences, advertisements, and reviews.)	Budget Game – Core Component Activity – Use the Car Loans Calculator Activity – Use the Home Budgeting Calculator Lesson – Classifying Products and Services Lesson – Spending and Savings Plans Lesson – How Do You Stop Impulse Purchases?
Explain that the consumption of a good or service can have positive or negative effects on others.	Lesson – Benefits of Competition Lesson – Social Responsibility In Management Lesson – What Is the Product Life Cycle?
Discuss that when buying a good, consumers may consider various aspects and features of the product.	Lesson – How Do You Stop Impulse Purchases? Lesson – Buying a car Lesson – Evaluating Big-Ticket Purchases
Describe ways that consumers may be influenced by how the price of a good is expressed.	Lesson – Consumer Rights and Responsibilities Lesson – Analyzing Consumer Behavior Lesson – Pricing Strategies
Discuss ways people incur costs and realize benefits when searching for information related to their purchases of goods and services.	Lesson – How Do You Stop Impulse Purchases? Lesson – The Car Buying Checklist Lesson – Evaluating Big-Ticket Purchases Lesson – How to Use Debt to Your Advantage
Explain that people may choose to donate money to charitable organizations and other not-for-profit organizations because they gain satisfaction from donating.	Lesson – A Guide to Effective Charitable Donations Lesson – Spending and Savings Plans
Explain how governments establish laws and institutions to provide consumers with information about goods or services being purchased and to protect consumers.	Lesson – Consumer Rights and Responsibilities
Evaluate how different forms of payment can result in costs or fees.	Budget Game – Core Component Activity – Use the Credit Card Payments Calculator Lesson – How to Use Debt to Your Advantage Lesson – What to Do When You Need Money Fast Lesson – The Art of Juggling Many Bills in a Pinch
Develop a budget based on a given income and expenses for long-term and short-term financial goals.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Break Free From Money Stress with a Budget
Understand that when individuals or business owners buy or sell goods or services, they may enter into contracts.	Lesson – The 6 Elements of a Binding Contract
Evaluate and interpret terms and conditions within a contract.	Lesson – The 6 Elements of a Binding Contract
Understand the process of identifying and contesting an incorrect billing statement.	Lesson – Balance Your Books in 10-Minutes
Saving	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Describe the different types of accounts and financial products offered through banking institutions.	Lesson – Choosing the Best Banking Option for You Lesson – How Debit Cards Work Lesson – Credit Cards: Terms, Fees, and More Lesson – Mortgage Options for First-Time Homebuyers
Compare and contrast the characteristics of the various accounts and services offered by depository institutions.	Lesson – Choosing the Best Banking Option for You
Explain how people should regularly track and manage funds in their account to ensure enough funds are available in those accounts to cover an outstanding transactions or future automated withdrawals.	Lesson – Automatic Payments: Convenience vs. Risk Lesson – Spending and Savings Plans
Analyze the impact of spending versus saving.	Budget Game – Core Component Activity – Use the Compound Interest Calculator Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Break Free From Money Stress with a Budget Lesson – Proven Techniques to Stop Overspending
Describe how inflation reduces the value of money.	Lesson – Inflation
Compare the difference between the nominal interest rate and the real interest rate.	Lesson – Demystifying the Impact of Interest Rates
Describe ways that money received (or paid) in the future can be compared to money held today by discounting the future value based on the rate of interest.	Activity – Net Present Value (NPV) Calculator Lesson – Time Value of Money
Explain ways that government agencies supervise and regulate financial institutions to help protect the safety, soundness, and legal compliance of the United States banking and financial system.	Lesson – Government Impact on the Economy Lesson – Why You Should Care About the Fed Lesson – Fiscal Policy Explained Lesson – Monetary Policy
Describe government policies that create incentives and disincentives for people to save.	Lesson – Carrots, Sticks, and Your Wallet – All About Incentives Lesson – Monetary Policy
Explain how employer benefit programs create incentives and disincentives to save and how an employee’s decision to save can depend on how the alternatives are presented by the employer.	Lesson – The Secret to a Comfortable Retirement Lesson – What’s in Your Compensation Package? Lesson – What Benefits to Look for in a Job Offer
Using Credit	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Analyze the ways that consumers can compare the cost of credit by using the annual percentage rate (APR), initial fees charged, and fees charged for late payment or missed payments.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage
Explain why banks and financial institutions sometimes compete by offering credit at low introductory rates.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More
Explain that loans can be unsecured or secured with collateral.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More
Describe the factors that influence the cost of borrowing from the perspective of the buyer and the seller, such as down payments and interest rates.	Activity – Use the Car Loans Calculator Activity – Use the Home Budgeting Calculator Lesson – The Car Buying Checklist Lesson – Mortgage Options for First-Time Homebuyers
Explain that lenders make credit decisions based in part on consumer payment history.	Lesson – What Your Credit Report Says About You Lesson – A Beginner’s Guide to Borrowing Wisely
Demonstrate an understanding of completing a loan application.	Lesson – What Your Credit Report Says About You Lesson – Mortgage Options for First-Time Homebuyers
Discuss that lenders can pay to receive a borrower’s credit score from a credit bureau.	Lesson – What Your Credit Report Says About You
Analyze the costs and benefits associated with credit cards.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – How to Use Debt to Your Advantage
Describe that, in addition to assessing a person’s credit risk, credit reports and scores may be requested and used by employers in hiring decisions, property owners in deciding whether to rent apartments, and insurance companies in charging premiums.	Lesson – What Your Credit Report Says About You
Examine the fact that failure to repay a loan has significant consequences for borrowers such as negative entries on their credit report, repossession of property (collateral), garnishment of wages, and the inability to obtain loans in the future.	Lesson – How Borrowers Manage Personal Debt Lesson – What Your Credit Report Says About You Lesson – How to Use Debt to Your Advantage
Explain that consumers who have difficulty repaying debt can seek assistance through credit counseling services and by negotiating directly with creditors.	Lesson – Getting Help With Debt Repayment Lesson – Debt Relief: Is Consolidation the Answer? Lesson – How to Negotiate With Creditors
Explain how bankruptcy may be an option for consumers who are unable to repay debt.	Lesson – What Is Bankruptcy?
Explain that people often apply for a mortgage to purchase a home.	Activity – Use the Home Budgeting Calculator Lesson – Mortgage Options for First-Time Homebuyers
Discuss that consumers who use credit should be aware of laws that are in place to protect them.	Lesson – Credit Cards: Terms, Fees, and More
Explain that consumers are entitled to a free copy of their credit report annually.	Lesson – What Your Credit Report Says About You
Analyze how postsecondary education can be financed through a combination of scholarships, grants, and other financial aid (e.g., Bright Futures, work-study, student loans, and savings).	Lesson – Financing Your Education Lesson – Work vs Study
Compare different types of student loans and understand how to complete a student loan application.	Lesson Student Loans
Financial Investing	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explain the purpose of the following investments: stocks, bonds, mutual funds, index funds, and Exchange-Traded Funds (ETFs); real estate; money markets and annuities; and others (e.g., commodities).	Stock Game – Core Component Investing 101 – Chapter 01 (Introduction to Investing) Lesson – How to Develop an Investing Strategy Lesson – What is Diversification & How to Spread Your Risk Lesson – What are Stocks? Lesson – A Simple Explanation of ETFs Lesson – The Pros and Cons of Mutual Funds Lesson – Getting Started with Bond Investing Lesson – What are Annuities?
Compare the ways that tax rates vary on different types of investments.	Lesson – Get Practice Filing a Sample 1040 Tax Return Lesson – Tax Basics You Need to Know Lesson – Uncovering Hidden Income Taxes You Owe Lesson – Income Tax Filing Tips & Tricks
Explain how the expenses of buying, selling, and holding financial assets decrease the rate of return from an investment.	Stock Game – Core Component Activity – Model Your Financial Future
Discuss that buyers and sellers in financial markets determine prices of financial assets and therefore influence the rates of return on those assets.	Stock Game – Core Component Lesson – Supply and Demand Example in the Stock Market Lesson – Decoding What Moves The Market Lesson – How to Choose Stocks Strategically
Discuss the trade-off between risk and return in comparing financial investments.	Stock Game – Core Component Lesson – How to Develop an Investing Strategy Lesson – What is Diversification & How to Spread Your Risk
Explain that shorter-term investments will likely have lower rates of return than longer-term investments.	Activity – Use the Compound Interest Calculator Activity – Crack the Code to Becoming a Millionaire Lesson – What is Wealth? Lesson – building Wealth
Describe how diversifying investments in different types of financial assets can lower investment risk.	Stock Game – Core Component Lesson – How to Develop an Investing Strategy Lesson – What is Diversification & How to Spread Your Risk
Describe how financial markets adjust to current events and financial news, and that prices in those markets reflect what is publicly known about those financial assets.	Stock Game – Core Component Investing 101 – Chapter 02 (How The Stock Market Works and Why It Works) Lesson – Decoding What Moves The Market
Discuss ways that prices of financial assets are affected by interest rates, changes in domestic and international economic conditions, monetary policy, and fiscal policy.	Stock Game – Core Component Lesson – The Business Cycle Lesson – Demystifying the Impact of Interest Rates Lesson – What is Economics? Lesson – Fiscal Polocy Explained Lesson – Monetary Policy
Explain that people vary in their willingness to take risks because the willingness to take risks depends on factors such as personality, income, time horizon, and family situation.	Investing 101 – Chapter 04 (Building Your $100,000 Portfolio) Lesson – Risk Lesson – Investing Strategy
Describe why an economic role for a government may exist if individuals do not have complete information about the nature of alternative investments or access to competitive financial markets.	Lesson – Government Impact on the Economy
Compare the Securities and Exchange Commission (SEC), the Federal Reserve, and other government agencies that regulate financial markets.	Investing 101 – Chapter 06 (Fundamental Analysis: Understanding Earnings and Cash Flow) Lesson – Why You Should Care About the Fed Lesson – Understanding the Role of Accountants in Business and Society
Describe the purpose of the following accounts that hold investments: various retirement accounts (e.g., 401(k), 403(b), Traditional IRA, Roth IRA), education accounts (e.g., 529 savings plan, Coverdell Education Savings Account (ESA)), and taxable investment brokerage accounts.	Lesson – The Secret to a Comfortable Retirement Lesson – What is Wealth? Lesson – Finding the Right Brokerage Account
Evaluate the motives for using a digital currency.
Protecting and Insuring	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Describe how individuals vary with respect to their willingness to accept risk and why most people are willing to pay a small cost now if it means they can avoid a possible larger loss later.	Lesson – Risk Lesson – Life Insurance: The Ultimate Safety Net Lesson – Why Health Insurance is So Expensive
Understand that insurance companies charge premiums to create a pool of money from which the company uses to pay for losses incurred by policyholders.	Lesson – Why Health Insurance is So Expensive Lesson – Don’t Let Disability Derail Your Finances Lesson – Car Insurance: How to Lower Your Rates
Analyze and evaluate the cost-effectiveness of supplemental insurance.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – Why Health Insurance is So Expensive Lesson – What Damage Does Home Insurance Cover?
Describe why people choose different amounts of insurance coverage based on their willingness to accept risk, as well as their occupation, lifestyle, age, financial profile, and the price of insurance.	Lesson – Rules for Renters & Homeowners Lesson – What Damage Does Home Insurance Cover? Lesson – Car Insurance: How to Lower Your Rates
Explain how governments and contractual obligations can influence the decisions and responsibilities of individuals to obtain different forms of insurance.	Lesson – Car Insurance: How to Lower Your Rates Lesson – Rental Insurance Lesson – Why Health Insurance is So Expensive
Describe how an insurance contract can increase the probability or size of a potential loss.	Lesson – Why Health Insurance is So Expensive Lesson – Car Insurance: How to Lower Your Rates
Explain that people can lower insurance premiums by behaving in ways that show they pose a lower risk.	Lesson – Car Insurance: How to Lower Your Rates
Identify the purposes of various types of insurance.	Lesson – Car Insurance: How to Lower Your Rates Lesson – Rental Insurance Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net Lesson – Don’t Let Disability Derail Your Finances
Explain how government programs provide a social safety net that protects an individual from an economic hardship created by unexpected events.	Lesson – Why Health Insurance is So Expensive Lesson – Don’t Let Disability Derail Your Finances
Identify how responsible use of personal information can prevent identity theft.	Lesson – Protecting Against Fraud Lesson – Tame Your Financial Paperwork
Compare federal and state regulations that provide some remedies and assistance for victims of identity theft.	Lesson – Protecting Against Fraud
Identify the implications of social networking sites and other online activity on an individual’s digital footprint.	Lesson – Protecting Against Fraud
Explain that financial planning includes preparing for all contingencies, including death.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – The Cost of Raising a Family Lesson – The Secret to a Comfortable Retirement
Explain the implications of receiving an inheritance.	Lesson – Uncovering Hidden Income Taxes You Owe Lesson – Who Gets Your Stuff When You’re Gone?
Examine laws and regulations concerning personal finance.	Lesson – Credit Cards: Terms, Fees, and More Lesson – Consumer Rights and Responsibilities Lesson – Do You Need a Tax Professional? Lesson – Getting Help With Debt Repayment Lesson – Certifications in the Finance Industry Lesson – Tax Basics You Need to Know Lesson – What Is a Tax Audit?