South Carolina Financial Literacy Standards: Helpful Resources

South Carolina Economics and Personal Finance Curriculum Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the South Carolina Economics and Personal Finance Curriculum.

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
Earning Income
Compensation for a job or career can be in the form of wages, salaries, commissions, tips, or bonuses, and may also include contributions to employee benefits, such as health insurance, retirement savings plans, and education reimbursement programs.	Lesson – What’s in Your Compensation Package? Lesson – Planning Your Career Path
In addition to wages and paid benefits, employees may also value intangible (noncash) benefits, such as good working conditions, flexible work hours, telecommuting privileges, and career advancement potential.	Lesson – What’s in Your Compensation Package? Lesson – Planning Your Career Path Lesson – The Ultimate Employee Guide
People vary in their opportunity and willingness to incur the present costs of additional training and education in exchange for future benefits, such as earning potential.	Lesson – Work Vs Study Lesson – Planning Your Career Path
Employers generally pay higher wages or salaries to more educated, skilled, and productive workers than to less educated, skilled, and productive workers.	Lesson – Planning Your Career Path Lesson – Why Do Some Jobs Pay More Than Others?
Changes in economic conditions, technology, or the labor market can cause changes in income, career opportunities, or employment status.	Lesson – The Business Cycle Lesson – Why Do Some Jobs Pay More Than Others? Inflation
Federal, state, and local taxes fund government-provided goods, services, and transfer payments to individuals. The major types of taxes are income taxes, payroll taxes, property taxes, and sales taxes.	Lesson – Tax Basics You Need to Know Lesson – Sales Tax: Who Pays, Collects, and Why? Lesson – Tax Credits & Deductions You Need to Know Lesson – What Is Monetary Policy?
The type and amount of taxes people pay depend on their sources of income, amount of income, and amount and type of spending.	Lesson – Tax Basics You Need to Know Lesson – Sales Tax: Who Pays, Collects, and Why? Lesson – Tax Credits & Deductions You Need to Know Lesson – Uncovering Hidden Income Taxes You Owe Lesson – When to hire a tax professional
Interest, dividends, and capital appreciation (gains) are examples of unearned income derived from financial investments. Capital gains are subject to different tax rates than earned income.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips & Tricks
Tax deductions and credits reduce income tax liability.	Lesson – Tax Credits & Deductions You Need to Know
Retirement income typically comes from some combination of continued employment earnings, Social Security,employer sponsored retirement plans, and personal investments.	Lesson – The Secret to a Comfortable Retirement Lesson – What is Wealth?
Owning a small business can be a person’s primary career or can supplement income from other sources	Lesson – Starting a Business 101 101 Lesson – What is Entrepreneurship?
Spending	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
A budget helps people achieve their financial goals by allocating income to necessary and desired spending, saving, and philanthropy.	Budget Game – Core Component Lesson – Break Free From Money Stress with a Budget Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Achieve Financial Goals with a Spending Plan
Consumer decisions are influenced by the price of products or services, the price of alternatives, the consumer’s budget and preferences, and potential impact on the environment, society, and economy.	Budget Game – Core Component Lesson – Break Free From Money Stress with a Budget Lesson – Proven Techniques to Stop Overspending Lesson – Achieve Financial Goals with a Spending Plan Lesson – How Do You Stop Impulse Purchases? Lesson – The Benefits of Competition Lesson – Analyzing Consumer Behavior
When purchasing a good that is expected to be used for a long time, consumers consider the product’s durability, maintenance costs, and various product features.	Lesson – Evaluating Big-Ticket Purchases
Consumers may be influenced by how prices of goods and services are advertised, and whether prices are fixed or negotiable.	Lesson – Analyzing Consumer Behavior Lesson – Foundations of Marketing Lesson – Achieve Financial Goals with a Spending Plan Lesson – Why You Buy What You Buy
Consumers incur costs and realize benefits when searching for information related to the purchase of goods and services.	Lesson – How Do You Stop Impulse Purchases? Lesson – Protect Yourself as a Consumer
Housing decisions depend on individual preferences, circumstances, and costs, and can impact personal satisfaction and financial well-being	Budget Game – Core Component Lesson – The Cost of Raising a Family Activity – Rent or Buy: Which is Right for You?
People donate money, items, or time to charitable and non-profit organizations because they value the services provided by the organization and/or gain satisfaction from giving.	Lesson – A Guide to Effective Charitable Donations
Federal and state laws, regulations, and consumer protection agencies (e.g., Federal Trade Commission, Consumer Affairs office, and Consumer Financial Protection Bureau) can help individuals avoid unsafe products, unfair practices, and marketplace fraud.	Lesson – Protect Yourself as a Consumer Lesson – Ethics In Marketing
Having an organized system for keeping track of spending, saving, and investing makes it easier to make financial decisions.	Lesson – Tame Your Financial Paperwork Lesson – Balance Your Books in 10-Minutes Lesson – Break Free From Money Stress with a Budget
Saving	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Financial institutions offer several types of savings accounts, including regular savings, money market accounts, and certificates of deposit (CDs), that differ in minimum deposits, rates, and deposit insurance coverage.	Lesson – Choosing the Best Banking Option for You Lesson – How to Develop an Investing Strategy
Deposit account interest rates and fees vary between financial institutions and depend on market conditions and competition.	Lesson – Choosing the Best Banking Option for You
Unless offered by insured financial institutions, mobile payment accounts and cryptocurrency accounts are not federally insured and usually do not pay interest to depositors.	Lesson – Choosing the Best Banking Option for You Investing101 Course – Chapter 8: Current Hot Topics In Trading
Inflation can erode the value of savings if the interest rate earned on a savings account is less than the inflation rate.	Lesson – Inflation
Government agencies such as the Federal Reserve, the FDIC, and the NCUA, along with their counterparts in state government, supervise and regulate financial institutions to improve financial solvency, legal compliance, and consumer protection.	Lesson – Why You Should Care About the Fed Lesson – Choosing the Best Banking Option for You
Tax policies that allow people to save pretax earnings or to reduce or defer taxes on interest earned provide incentives for people to save.	Lesson – What Is Monetary Policy?
Employer defined contribution retirement plans and health savings accounts can provide incentives for employees to save.	Lesson – The Secret to a Comfortable Retirement Lesson – What’s in Your Compensation Package?
People can reduce the potential for future financial strife with a partner or spouse by sharing personal financial information, goals, and values prior to combining finances.	Lesson – The Cost of Raising a Family
There are many strategies that can help people manage psychological, emotional, and external obstacles to saving, including automated savings plans, employer matches, and avoiding personal triggers.	Lesson – Achieve Financial Goals with a Spending Plan Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Investing	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
A person’s investment risk tolerance depends on factors such as personality, financial resources, investment experiences, and life circumstances.	Lesson – Knowing Your Risks & Risk Tolerance Lesson – How to Develop an Investing Strategy Investing101 Course – Chapter 1: Introduction to Investing
Investors earn investment returns from price changes and annual cash flows (such as interest, dividends or rent).The nominal annual rate of return is the annual total dollar benefit as a percentage of the beginning price.	Activity – Model Your Financial Future Investing101 Course – Chapter 1: Introduction to Investing
Investors expect to earn higher rates of return when they invest in riskier assets.	Stock Game – Core Component Activity – Model Your Financial Future Lesson – How to Develop an Investing Strategy Lesson – Knowing Your Risks & Risk Tolerance
Because inflation reduces purchasing power over time, the real return on a financial asset is lower than its nominal return.	Lesson – Inflation Activity – Model Your Financial Future
The prices of financial assets change in response to market conditions, interest rates, company performance, new information, and investor demand.	Lesson – Decoding What Moves The Market Investing101 – Chapter 6: Fundamental Analysis: Understanding Earnings and Cash Flow Chapter 7: Technical Analysis: Common Charts and Terms
When making diversification and asset allocation decisions, investors consider their risk tolerance, goals, and investing time horizon.	Lesson – How to Develop an Investing Strategy Lesson – Building a diversified portfolio
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 Investing101 – Chapter 5: Now That I Own It, What Should I Do?
Tax rules affect the rate of return on different investments, and can vary by holding period, type of income, and type of account	Lesson – Tax Basics You Need to Know
Common behavioral biases can result in investors making decisions that adversely affect their investment outcomes	Lesson – 5 Ways to Get Investing Ideas Lesson – How to Choose Stocks Strategically Lesson – Decoding What Moves The Market Investing101 – Chapter 1: Introduction to Investing
Financial technology can counterbalance negative behavioral factors when making investment decisions	Lesson – How to Develop an Investing Strategy Lesson – How to Choose Stocks Strategically
Many investors buy and sell financial assets through discount brokerage firms that provide inexpensive investment services and advice using financial technology.	Lesson – Finding the Right Brokerage Account
Federal regulation of financial markets is designed to ensure that investors have access to accurate information about potential investments and are protected from fraud.	Lesson – Knowing Your Risks & Risk Tolerance Lesson – How to Avoid Identity Theft, Scams & Fraud Lesson – Could the 1929 Crash Happen Again?
Investors often compare the performance of their investments against a benchmark, such as a diversified stock or bond index.	Stock Game – Core Component Investing101 – Chapter 3: Making Your First Trade
Criteria for selecting financial professionals for investment advice include licensing, certifications, education, experience, and cost.	Lesson – Want to Work in Finance? Lesson – When to hire a tax professional
Managing Credit	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Borrowers can compare the cost of credit using the Annual Percentage Rate (APR) and other terms in the loan or credit card contract.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More
Loans that are secured by collateral have lower interest rates than unsecured loans because they are less risky to lenders.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Mortgage Options for First-Time Homebuyers Lesson – How to Use Debt to Your Advantage
Monthly mortgage payments vary depending on the amount borrowed, the repayment period, and the interest rate, which can be fixed or adjustable.	Lesson – Mortgage Options for First-Time Homebuyers Activity – Find Out Your Monthly Home Budget
Post-secondary education is often financed by students and families/caregivers through a combination of scholarships, grants, student loans, work-study, and savings.	Lesson – Financing Your Education Lesson – Work Vs Study
Federal student loans have lower rates and more favorable repayment terms than private student loans, and may be subsidized.	Lesson – Financing Your Education Lesson – How to Use Debt to Your Advantage
Down payments reduce the amount needed to borrow.	Lesson -Buying a car Activity – Calculate Your Car Loan Payments Activity – Find Out Your Monthly Home Budget
Lenders assess credit-worthiness of potential borrowers by consulting credit reports compiled by credit bureaus.	Lesson – What Your Credit Report Says About You
A credit score is a numeric rating that assesses a person’s credit risk based on information in their credit report.	Budget Game – Core Component Lesson – What Your Credit Report Says About You
Credit reports and credit scores may be requested and used by entities other than lenders.	Lesson – What Your Credit Report Says About You
Borrowers who face negative consequences because they are unable to repay their debts may be able to seek debt management assistance.	Lesson – Getting Help With Debt Repayment Lesson – How to Negotiate With Creditors
In extreme cases, bankruptcy may be an option for people who are unable to repay their debts.	Lesson – What Is Bankruptcy?
Consumer credit protection laws govern disclosure of credit terms, discrimination in borrowing, and debt collection practices.	Lesson – Credit Cards: Terms, Fees, and More Lesson – Protect Yourself as a Consumer
Alternative financial services, such as payday loans, checkcashing services, pawnshops, and instant tax refunds, provide easy access to credit, often at relatively high cost.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage
Managing Risk	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
People vary with respect to their willingness to accept risk and in how much they are willing to pay for insurance that will allow them to minimze future financial loss.	Lesson – Knowing Your Risks & Risk Tolerance Lesson – Life Insurance: The Ultimate Safety Net
The decision to buy insurance depends on perceived risk exposure, the price of insurance coverage, and individual characteristics such as risk attitudes, age, occupation, lifestyle, and financial profile.	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive
Some types of insurance coverage are mandatory.	Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive
Insurance premiums are lower for people who take actions to reduce the likelihood and/or financial cost of losses and for those who buy policies with larger deductibles or copayments.	Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive Lesson – What Damage Does Home Insurance Cover?
Health insurance provides coverage for medically necessary health care and may also cover some preventive care. It is sometimes offered as an employee benefit with the employer paying some or all of the premium cost.	Lesson – Why Health Insurance is So Expensive Lesson – The Ultimate Employee Guide Lesson – What’s in Your Compensation Package?
Disability insurance replaces income lost when a person is unable to earn their regular income due to injury or illness. In addition to privately purchased policies, some government programs provide disability protection.	Lesson – Why Health Insurance is So Expensive
Auto, homeowner’s and renter’s insurance reimburse policyholders for financial losses to their covered property and the costs of legal liability for their damages to other people or property.	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – What Damage Does Home Insurance Cover?
Life insurance provides funds forbeneficiaries in the event of an insured person’s death. Policy proceeds are intended to replace the insured’s lost wages and/or to fund their dependents’ future financial needs.	Lesson – Life Insurance: The Ultimate Safety Net
Unemployment insurance, Medicaid, and Medicare are public insurance programs that protect individuals from economic hardship caused by certain risks.	Lesson – The Anatomy of Unemployment and other programs
Insurance fraud is a crime that encompasses illegal actions by the buyer (e.g., falsified claims) or seller (e.g., representing non-existent companies) of an insurance contract.	Lesson – Life Insurance: The Ultimate Safety Net
Online transactions and failure to safeguard personal documents can make consumers vulnerable to privacy infringement, identity theft, and fraud.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Extended warranties and service contracts are like an insurance policy.	Lesson – Protect Yourself as a Consumer