Minnesota Personal Finance Standards

Minnesota
Personal Finance Standards

We compared our learning materials and the core financial literacy concepts that are covered in our Budget and Stock Games to the personal finance standards for the state of Minnesota.

A list of the Minnesota Personal Finance Standards are below, along with a selection of activities from our games and library that align with each standard. Our Learning Library contains over 300 total lessons that can be customized for every class, so this may not include every lesson that may apply for each standard.

Course Outlines, Lesson Plans & Student Activities

Students will learn through playing the interactive online games, as well as completing the self-graded lessons that were designed to keep young learners engaged.

When you order PersonalFinanceLab® for your class, you’ll also get access to course outlines, lesson plans, student activities and grading rubrics that tie everything together.

Check out our course outlines, we’ll walk you through every step of the way!

3-Week Enrichment Program

3-Week Enrichment Program
18-Week Course Outline

18-Week Course Outline
9-Week Course Outline

9-Week Course Outline

Get to Know PersonalFinanceLab®

We’re here to help engage your students to learn how to manage their money responsibly. Learn more about each of the main features and see how we can help transform your class.

Personal Budgeting Game

A monthly budget game with real-life scenarios and consequences.

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Stock Market Game

Build your students confidence in the financial markets as they learn how to invest their money wisely.

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Embedded Lessons

Self-graded lessons aligned to National and Jump$tart Standards.

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We’re Here to Help!

Discover how the fully customizable platform can be tailored to fit the needs of your class by talking to a member of our team. Our curriculum specialists can guide you on how to integrate our lessons and games into your existing curriculum.

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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 – Use the Investment Return Calculator
Activity – Use the Home Budgeting Calculator
Lesson – Pay Yourself First
Lesson – Work Vs Study
Lesson – Career Development
Compare and contrast how individuals and families make choices to satisfy needs and wants. (values, goals and decision-making). Lesson – Family Planning
Lesson – Life Insurance
Lesson – Building Wealth
Lesson – Preparing For Retirement
Define state and federal policies and laws providing consumer protection and seek information regarding consumer rights and responsibilities. Lesson – Consumer rights and responsibilities
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 – Managing Debt
Lesson – Family Planning
Evaluate the need for family financial planning to include short/medium/long-term goal setting. (SMART goal/financial goal setting). Lesson – Family Planning
Lesson – Income and Compensation
Lesson – Career Development
Lesson – Simple and Living Wills
Lesson – Budgeting
Lesson – Budgeting and Spending Strategies
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 – Banks, Credit Unions, and Savings and Loans
Lesson – Consumer rights and responsibilities
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 – Income and Compensation
Lesson – Taxation Overview
Lesson – Common Tax Deductions
Lesson – Common Tax Additions
Explain the effects of the economy on personal income, individual and family security, and consumer decisions. (I-9, W-2, W-4). Lesson – Employer and Employee Rights and Responsibilities
Lesson – Tax Filing and the Form 1040
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 – Debit Cards
Lesson – Payroll Best Practices
Lesson – Tax Filing and the Form 1040
Lesson – Automatic Payments
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 – Budgeting
Lesson – Researching Spending
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 – Financial Records and Receipts
Lesson – What are Financial Records?
Lesson – Reconciling Accounts
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 – Buying a Car
Lesson – Health Insurance
Lesson – Rental Agreements and Homeowner’s Associations
Activity – Use the Home Budgeting Calculator
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 – Building Wealth
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 – Banks, Credit Unions, and Savings and Loans
Determine how technology affects and/or supports personal and/or family financial decisions. (PIN, ATM, electronic/internet/online banking, banking Apps) Lesson – Debit Cards
Lesson – Credit Cards
Lesson – Protecting Against Fraud
Analyze the economic effects of laws and regulations that pertain to consumers and providers of services. (Regulation E, Check 21) Lesson – Consumer rights and responsibilities
Lesson – Classifying Products and Services
Lesson – Banks, Credit Unions, and Savings and Loans
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 – Importance of Interest Rates
Lesson – Building a Diversified Portfolio
Lesson – Spending and Savings Plans
Activity – Use the Compound Interest Calculator
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 – Investing Strategies
Lesson – Building a Diversified Portfolio
Lesson – Preparing for Retirement
Analyze the effects of risk management strategies on long-term financial planning. (PYF, financial planning pyramid, diversification) Lesson – Risk
Lesson – Inflation
Lesson – Understanding Price Movements
Lesson – Building a Diversified Portfolio
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 – Good Debt, Bad Debt
Lesson – Using Credit
Lesson – Short-Term Financing
Lesson – Mortgages
Activity – Use the Buy vs Lease Calculator
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 – Using Credit
Lesson – Credit Cards
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 – Credit Reports
Lesson – What are Financial Records?
Apply strategies to reduce the risk of consumer fraud. (PIN, https, virus protection, direct marketing and advertising strategies) Lesson – Protection Against Fraud
Lesson – Researching Spending
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 – Health Insurance
Lesson – Car Insurance
Lesson – Renter’s Insurance
Lesson – Home Owner’s Insurance
Lesson – Life Insurance
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 – Career Development
Lesson – Starting a Business
Lesson – Work vs Study
Lesson – Student Loans
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 – How To Choose an Internship

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