Minnesota Financial Literacy Standards: Helpful Teacher Resource

Minnesota Personal Finance Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the Minnesota 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
Goal-Setting and Decision-Making
Apply management and planning skills and processes to organize tasks and responsibilities. (values, wants, needs, goals, decision-making processes).	Budget Game – Core Component Stock Game – Core Component Activity – Model Your Financial Future Activity – Find Out Your Monthly Home Budget Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Work Vs Study Lesson – Planning Your Career Path
Compare and contrast how individuals and families make choices to satisfy needs and wants. (values, goals and decision-making).	Lesson – The Cost of Raising a Family Lesson – Life Insurance: The Ultimate Safety Net Lesson – A Strategy to Build Wealth, Not Debt Lesson – Preparing For Retirement
Define state and federal policies and laws providing consumer protection and seek information regarding consumer rights and responsibilities.	Lesson – Protect Yourself as a Consumer
Analyze the use of resources in making choices that satisfy needs and wants of individuals and families.	Budget Game – Core Component Lesson – Research Spending Lesson – How Borrowers Manage Personal Debt Lesson – The Cost of Raising a Family
Evaluate the need for family financial planning to include short/medium/long-term goal setting. (SMART goal/financial goal setting).	Lesson – The Cost of Raising a Family Lesson – What’s in Your Compensation Package? Lesson – Planning Your Career Path Lesson – Who Gets Your Stuff When You’re Gone? Lesson – Break Free From Money Stress with a Budget Lesson – Proven Techniques to Stop Overspending
Income, Paychecks, and Taxes	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Analyze economic effects of laws and regulations that pertain to consumers and providers of services.	Lesson – Choosing the Best Banking Option for You Lesson – Protect Yourself as a Consumer Lesson – Government impact on the economy
Identify sources of income and understand the effects of state, local, and federal taxes on income. (Read a paycheck stub–FICA, Medicare, state and federal).	Budget Game – Core Component Lesson – What’s in Your Compensation Package? Lesson – Tax Basics You Need to Know Lesson – Tax Credits & Deductions You Need to Know Lesson – Uncovering Hidden Income Taxes You Owe
Explain the effects of the economy on personal income, individual and family security, and consumer decisions. (I-9, W-2, W-4).	Lesson – The Ultimate Employee Guide Lesson – Income Tax Filing Tips & Tricks Lesson – Inflation Lesson – The Business Cycle
Apply the use of technology and describe its effect on income, paychecks and taxes. (direct deposit, payroll cards, online banking, checking simulation, deposit slips).	Lesson – How Debit Cards Work Lesson – Payroll Best Practices Lesson – Income Tax Filing Tips & Tricks Lesson – Automatic Payments: Convenience vs. Risk
Budget and Record Keeping	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Demonstrate components of a financial planning process that reflect the distinction between needs, wants, values, goals, and economic resources.	Budget Game – Core Component Lesson – Break Free From Money Stress with a Budget Lesson – How Do You Stop Impulse Purchases?
Manage money effectively by developing a system for keeping and using financial records. (spending plan, debit card, ATM, bank statements, checking register, savings register, filing system)	Lesson – Receipts: What to Keep and Why Lesson – Tame Your Financial Paperwork Lesson – Balance Your Books in 10-Minutes
Demonstrate management of individual and family resources such as food, clothing, shelter, health care, recreation, transportation, time and human capital. (spending plan percentages, lease agreements, furnishing a first apartment, landlord/tenant laws, consumer comparisons, buying a car/loan, label reading)	Budget Game – Core Component Lesson – The Car Buying Checklist Lesson – Why Health Insurance is So Expensive Lesson – Rules for Renters & Homeowners Activity – Find Out Your Monthly Home Budget
Analyze practices that allow families to maintain economic self-sufficiency. (prioritize, PYF, debt to credit ratio, net worth)	Budget Game – Core Component Lesson – What is Wealth? Lesson – A Strategy to Build Wealth, Not Debt Activity – Use the Net Worth Calculator
Banking and Financial Institutions	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Research community resources and compare and contrast their roles and services available to individuals and families. (NCUA/FDIC, credit unions, banks, S&L’s, savings/checking accounts, CD’s, safe deposit box, interest, ATM)	Lesson – Choosing the Best Banking Option for You
Determine how technology affects and/or supports personal and/or family financial decisions. (PIN, ATM, electronic/internet/online banking, banking Apps)	Lesson – How Debit Cards Work Lesson – Credit Cards: Terms, Fees, and More Lesson – How to Avoid Identity Theft, Scams & Fraud
Analyze the economic effects of laws and regulations that pertain to consumers and providers of services. (Regulation E, Check 21)	Lesson – Protect Yourself as a Consumer Lesson – Why You Buy What You Buy Lesson – Choosing the Best Banking Option for You Lesson – What makes a contract valid?
Saving and Investing	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Analyze relationships between the economic systems of savings and investing to build long- term individual or family financial security. (PYF, interest rates, Rule of 72, compound and simple interest)	Investing101 Certification Course Lesson – Demystifying the Impact of Interest Rates Lesson – What is Diversification & How to Spread Your Risk Lesson – Achieve Financial Goals with a Spending Plan Activity – Watch How Your Savings Could Grow
Compare saving and investment alternatives and how to access, obtain and manage them. (CD’s, Money market, stocks, bonds, retirement accounts)	Stock Game – Core Component Investing101 Certification Course Lesson – How to Develop an Investing Strategy Lesson – What is Diversification & How to Spread Your Risk Lesson – The Secret to a Comfortable Retirement
Analyze the effects of risk management strategies on long-term financial planning. (PYF, financial planning pyramid, diversification)	Lesson – Knowing Your Risks & Risk Tolerance Lesson – Inflation Lesson – Decoding What Moves The Market Lesson – What is Diversification & How to Spread Your Risk
Credit and Identity Protection	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explore the pros and cons of basic types of credit including loans. (revolving credit, personal loans, car loans, student loans, VA loans, balloon payments, defaulting)	Lesson – How to Use Debt to Your Advantage Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – What to Do When You Need Money Fast Lesson – Mortgage Options for First-Time Homebuyers Activity – Rent or Buy: Which is Right for You?
Recognize the role of policies and laws in advocacy and protecting the consumer’s use of credit. (consumer protection agency, consumers union, BBB, FTC, AG’s office)	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More
Evaluate the effects of technology on credit use and identity protection. (credit cards, debit cards, ATM, PIN, online shopping and banking)	Lesson – Protection Against Fraud Lesson – What Your Credit Report Says About You Lesson – Tame Your Financial Paperwork
Apply strategies to reduce the risk of consumer fraud. (PIN, https, virus protection, direct marketing and advertising strategies)	Lesson – Protection Against Fraud Lesson – How Do You Stop Impulse Purchases?
Insurance and Risk Management	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explore insurance options and their purposes, their role in balancing risk, and their benefit in financial planning. (renter’s, basic health, car, life, disability, identity, beneficiary, policy reading, premiums)	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? Lesson – Life Insurance: The Ultimate Safety Net
Career and College Readiness	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Develop a plan for lifelong learning including goals, career exploration and pathways. (MCIS assessments and inventories, college, career, FAFSA, scholarships)	Lesson – Planning Your Career Path Lesson – Starting a Business 101 101 Lesson – Go to College or Start Working? Lesson – Financing Your Education
Demonstrate job-seeking, communication, leadership and teamwork skills in school, workplace and community settings. (job application, resume, cover letter, interview, professional thank you letter)	Lesson – Biggest Mistakes of Job Seekers Lesson – Acing Job Interviews Lesson – Are Internships Worth It?