Ohio Financial Literacy Standards: Helpful Teacher Resource

Ohio’s Model Curriculum for Financial Literacy

Find out which of our lessons or games reinforce the individual
knowledge statements for high school in Ohio’s model curriculum for financial literacy.

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 Responsibility and Decision-Making
Financial responsibility entails being accountable for managing money to satisfy one’s current and future economic choices.	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 Lesson – Planning Long-Term Purchases
Financial responsibility involves life-long decision-making strategies which include consideration of alternatives and consequences.	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 Lesson – Planning Long-Term Purchases Lesson – A Strategy to Build Wealth, Not Debt Lesson – The Cost of Raising a Family Lesson – The Secret to a Comfortable Retirement
Competencies (knowledge and skills), commitment (motivation and enthusiasm), competition (globalization and automation), training, work ethic, abilities and attitude are all factors impacting one’s earning potential and employability.	Lesson – Planning Your Career Path Lesson – Go to College or Start Working? Lesson – Starting a Business 101 101 Lesson – What is Specialization? Lesson – Why Do Some Jobs Pay More Than Others?
Income sources include job earnings and benefits, entrepreneurship, saving and investment earnings, government payments, grants, inheritances, etc. Workers can experience dramatic income dips and spikes from month to month.	Lesson – What’s in Your Compensation Package? Lesson – The Ultimate Employee Guide
Taxes, retirement, insurance, employment benefits, and both voluntary and involuntary deductions impact take home pay.	Budget Game – Core Component Lesson – What’s in Your Compensation Package? Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips & Tricks
Planning and Money Management	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Financial responsibility includes the development of a spending and savings plan (personal budget).	Budget Game – Core Component Lesson – Proven Techniques to Stop Overspending Lesson – Achieve Financial Goals with a Spending Plan Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Financial institutions offer a variety of products and services to address financial responsibility.	Lesson – Choosing the Best Banking Option for You
Financial experts provide guidance and advice on a wide variety of financial issues.	Lesson – When to hire a tax professional Lesson – Getting Help With Debt Repayment
Planning for and paying local, state and federal taxes is a financial responsibility.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips & Tricks Lesson – Tax Credits & Deductions You Need to Know Lesson – Uncovering Hidden Income Taxes You Owe
Tax payers may save money by understanding and using tax credits and deductions.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips & Tricks Lesson – Tax Credits & Deductions You Need to Know Lesson – Uncovering Hidden Income Taxes You Owe
Informed Consumer	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
An informed consumer makes decisions on purchases that may include a decision-making strategy to determine if purchases are within their budget.	Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Protect Yourself as a Consumer Lesson – How Do You Stop Impulse Purchases?
Consumer advocates, organizations and regulations provide important information and help protect against potential consumer fraud.	Lesson – Protect Yourself as a Consumer Lesson – How to Avoid Identity Theft, Scams & Fraud
Part of being an informed consumer is knowing how to utilize financial services and risk management tools, as well as comparing consumer lending terms and conditions and reading financial statements.	Lesson – How to Use Debt to Your Advantage Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Getting Help With Debt Repayment Lesson – What makes a contract valid? Lesson – Knowing Your Risks & Risk Tolerance
Consumer protections laws help safeguard individuals from fraud and potential loss.	Lesson – Credit Cards: Terms, Fees, and More Lesson – Protect Yourself as a Consumer
Planned purchasing decisions factor in direct (price) and indirect costs (e.g. sales/use tax, excise tax, shipping, handling, and delivery charges, etc.).	Lesson – Opportunity Cost Lesson – Proven Techniques to Stop Overspending Lesson – Achieve Financial Goals with a Spending Plan
Investing	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Using key investing principles one can achieve the goal of increasing net worth.	Stock Game – Core Component Lesson – Building a diversified portfolio Lesson – How to Develop an Investing Strategy Activity – Model Your Financial Future
Investment strategies must take several factors into consideration including the time horizon of the investment, the degree of diversification, the investor’s risk tolerance, how the assets are selected and allocated, product costs, fees, tax implications and the time value of money.	Lesson – Building a diversified portfolio Lesson – How to Develop an Investing Strategy Lesson – Time Value of Money
Government agencies are charged with regulating providers of financial services to help protect investors.	Lesson – Government impact on the economy Lesson – What Are Property Rights?
Credit and Debt	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Credit is a contractual agreement in which a borrower receives something of value now and agrees to repay to lender at some later date.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More
Debt is an obligation owed by one party to a second party.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – What to Do When You Need Money Fast
Effectively balancing credit and debt helps one achieve some short and long-term goals.	Budget Game – Core Component Lesson – How to Use Debt to Your Advantage Lesson – How Borrowers Manage Personal Debt
Financial documents and contractual obligations inform the consumer and define the terms and conditions of establishing credit and incurring debt.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – What makes a contract valid? Lesson – Tame Your Financial Paperwork
Many options exist for paying for post-secondary education opportunities.	Lesson – Financing Your Education Lesson – Go to College or Start Working?
Risk Management and Insurance	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
A risk management plan can protect consumers from the potential loss of personal and/or business assets or income.	Lesson – Knowing Your Risks & Risk Tolerance Lesson – Starting a Business 101 101
Safeguards exist that help protect one’s identity.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Diversification of assets is one way to manage risk.	Lesson – Knowing Your Risks & Risk Tolerance Lesson – What is Diversification & How to Spread Your Risk
A comprehensive insurance plan (health, life, disability, auto, homeowners, renters, liability, etc.) serves as a safeguard against potential loss.	Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover?