Tennessee Financial Literacy Standards: Helpful Teacher Resource

Tennessee Personal Finance Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the Tennessee College, Career and Technical Education and 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
Financial Responsibility and Personal Decision Making
Define the concept of personal finance and explain the importance of personal financial planning using information sources such as instructional materials, news articles, blogs from reputable sources, personal narratives, and industry publications.	Budget Game – Core Component Lesson – Pay Yourself first 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?
Write long-term (over 5 years), mid-term (1 – 5 years), and short-term (a year or less) personal financial goals, defining desired education, career, and earning milestones and saving and spending plans. Evaluate factors that may influence the goals, including family responsibilities, individual values, and economic conditions.	Lesson – Planning Your Career Path Lesson – Proven Techniques to Stop Overspending Lesson – Achieve Financial Goals with a Spending Plan Lesson – The Cost of Raising a Family Lesson – The Secret to a Comfortable Retirement Lesson – Planning for Long-Term Purchases Lesson – Preparing for spending shocks
Education, Careers, and Income	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Develop a chart, table, or graphic to compare characteristics of various careers, such as alignment to personal interest and aptitude, education requirements, available positions, salaries, potential lifetime earnings, and employer benefits. Research and report (orally or in an explanatory text) the requirements for admission to and related costs of attending a specific post-secondary institution and how that will support education, career, and earning goals.	Lesson – Planning Your Career Path Lesson – What’s in Your Compensation Package? Lesson – Study or Work Lesson – Financing Your Education Lesson – Are Internships Worth It?
Demonstrate an understanding of Free Application for Federal Student Aid (FAFSA) requirements to apply for postsecondary education financial aid by completing an application. Identify strategies for reducing the overall cost of postsecondary education, including the impact of scholarships, grants, work study, and other assistance.	Lesson – Financing Your Education Lesson – Study or Work
Research multiple viewpoints that support or question the use of student loan debt in paying for postsecondary education. Assess the extent to which the reasoning and evidence presented support the author’s claim. Citing specific textual evidence, craft an argumentative essay that either supports or opposes the use of student loan debt, developing both claim(s)and counterclaim(s) fairly.	Lesson – Financing Your Education Lesson – Study or Work Lesson – What Is Bankruptcy? Lesson – How Borrowers Manage Personal Debt
Describe factors affecting take-home pay such as tax withholdings, benefits (e.g., insurance, 401k), and plan payroll deductions. Complete a 1040EZ or 1040A and a W-4 Employee’s Withholding Allowance paperwork, and analyze the W-2 Wage and Tax Statement for federal income tax purposes.	Lesson – What’s in Your Compensation Package? Lesson – Tax Basics You Need to Know Lesson – Payroll Best Practices Lesson – The Secret to a Comfortable Retirement
Planning and Money Management	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Create a personal balance sheet. Determine assets and liabilities and calculate net worth. Using research from local sources (such as newspapers, chambers of commerce, local government, and company websites), create a monthly personal budget. Cite specific textual evidence from findings when calculating earnings of a selected occupation and including accurately estimated household living expenses, taxes, potential savings, and an emergency fund.	Budget Game – Core Component Lesson – Pay Yourself first 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? Activity – Use the Net Worth Calculator
Understand the availability of consumer protection laws, agencies, and resources. Investigate the availability and reliability of resources to assist consumers in making buying decisions (include national, state, and local resources, as appropriate).	Lesson – Protect Yourself as a Consumer Lesson – How Do You Stop Impulse Purchases?
Compare and contrast services and products available from financial service providers such as commercial banks, savings and loans, and credit unions. Identify the services that best support the personal financial goals. Craft an argumentative essay supported by evidence about selecting a specific financial account or service to best meet current and/or future financial goals.	Lesson – Choosing the Best Banking Option for You Lesson – A Strategy to Build Wealth, Not Debt Lesson – What is Wealth? Lesson – The Secret to a Comfortable Retirement
Credit and Debt	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Compare and contrast the various sources and types of consumer credit, such as student loans, auto loans, store credit cards, and payday loans. Draw conclusions about the types of credit best suited for financing and/or purchasing various goods and services, defending claims with specific textual evidence.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – Mortgage Options for First-Time Homebuyers Lesson – How Borrowers Manage Personal Debt Lesson – Short-term Financing Activity – Calculate Your Car Loan Payments Activity – Use the Credit Card Payments Calculator
Citing information from at least one of the three major credit reporting agencies, describe credit reports and credit scores. Describe the relationship between consumers and credit reports/credit scores, discussing their importance and citing specific textual evidence from research. Analyze a sample credit report and interpret how the contents may affect the credit score. Explain how the credit score may impact borrowing opportunities and the cost of credit. Summarize specific activities used to maintain a good credit score.	Lesson – What Your Credit Report Says About You Lesson – Credit Cards: Terms, Fees, and More Lesson – How to Use Debt to Your Advantage
Citing evidence found in credit applications, compare and contrast various types of credit and calculate the real cost of borrowing. Explain factors that can affect the approval process associated with each type. Identify typical information and procedures required in the credit application process. Analyze factors associated with the purchase of an automobile and defend a specific buying decision, including: a. Define and understand factors most often included in negotiations (such as cash vs. financing, inclusion of trade-in, etc.). b. Evaluate costs and benefits of different service contract and/or warranty options. c. Compare and contrast available financing options based on consumer characteristics and size of down payment.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – The Importance of Interest Rates Lesson – How to Use Debt to Your Advantage Lesson – How Borrowers Manage Personal Debt Lesson – Short-term Financing Activity – Calculate Your Car Loan Payments Activity – Use the Credit Card Payments Calculator
Identify strategies for good use of credit and effective debt management to recognize the warning signs of impending debt problems. Illustrate the long-term consequences of accumulating debt and of filing for bankruptcy. Formulate a plan to eliminate debt and determine the impact on a personal budget, citing specific textual evidence to defend elements of the plan.	Lesson – How Borrowers Manage Personal Debt Lesson – How to Use Debt to Your Advantage Lesson – Getting Help With Debt Repayment Lesson – Debt Relief: Is Consolidation the Answer? Lesson – How to Negotiate With Creditors Lesson – What Is Bankruptcy?
Risk Management	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Differentiate the benefits and costs associated with various types of insurance, such as health, life, property, and auto. Describe the risks associated with a lack of appropriate coverage in specific situations. Determine the role of insurance in personal financial planning to preserve and build wealth.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – Why Health Insurance is So Expensive Lesson – What Damage Does Home Insurance Cover? Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates
Conduct assessments of various types of identity theft situations and scams, then determine strategies and present a plan to safeguard and protect against identity theft. Design and present a plan to significantly lower and protect against risks. Determine steps that should be taken by a victim of identity theft to report the incident and re-establish identity.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Saving and Investing	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explain how saving and investing contribute to financial well-being, building wealth, and helping meet personal financial goals. Compare and contrast saving and investment strategies, such as savings accounts, certificates of deposit, stocks, bonds, mutual funds, employer sponsored savings plans, physical assets, and commodities. Design a diversified saving and investment plan that includes strategies compatible with personal goals. Include time value of money and compound interest calculations in analysis.	Investing101 Certification Stock Game – Core Component Budget Game – Core Component Lesson – What is Diversification & How to Spread Your Risk Lesson – How to Develop an Investing Strategy Lesson – Time Value of Money Lesson – A Strategy to Build Wealth, Not Debt Lesson – The Secret to a Comfortable Retirement Activity – Watch How Your Savings Could Grow