Texas Personal Financial Literacy and Economics Standards

Texas Personal Financial Literacy and Economics Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the Texas Personal Financial Literacy and Economics Standards Alignment.

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Comprehensive Chapter
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Standard	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Fundamentals of Economics
Analyze how the concepts of scarcity, choice, and opportunity costs apply to decision-making.	Lesson – Why You Can’t Have Everything Lesson – What is Opportunity Cost?
Interpret a production-possibilities curve and apply the concepts of scarcity, choice, and opportunity costs.	Lesson – Why You Can’t Have Everything Lesson – What is Opportunity Cost?
Explain how the production-possibilities curve represents cost-benefit decision-making.	Lesson – The Tipping Point of Profit
Use the circular flow model to identify how households, firms, and governments interact in both resource markets and product markets.	Lesson – Why Good Times Don’t Last Forever
Evaluate how prices and quantities are determined through supply and demand.	Lesson – The Market’s Perfect Match
Interpret a supply-and-demand graph, including equilibrium point, surpluses, and shortages.	Lesson – The Market’s Perfect Match
Analyze how non-price determinants of supply and demand affect equilibrium price and equilibrium quantity.	Lesson – The Market’s Perfect Match
Explain how supply and demand exist in both resource and product markets.	Lesson – The Market’s Perfect Match
Macroeconomics	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Identify types of progressive and regressive taxes at the local, state, and national levels and explain the economic importance of each.	Lesson – Tax Basics You Need to Know
Examine and evaluate the reasons for federal income taxation, Social Security taxation, Medicaid taxation, and Medicare taxation, including earnings limitations as applicable.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips & Tricks Lesson – Tax Credits & Deductions You Need to Know
Explain how all economic systems are mixed and exist on a spectrum between pure market and pure command systems.	Lesson – The Rules of the Economy Game
Explain the benefits of the U.S. free enterprise system, including private property and incentives.	Lesson – What Are Property Rights?
Discuss the importance of full employment, price stability, and economic growth in achieving the macroeconomic goals of the United States.	Lesson – Public Financial Assistance Programs
Explain the impact of fiscal policies enacted by government decisions on interest rates, inflation, and unemployment.	Lesson – The Impact of Inflation on Your Wallet Lesson – Demystifying the Impact of Interest Rates Lesson – Public Financial Assistance Programs
Explain the impact of monetary policies enacted by the Federal Reserve System on interest rates, inflation, and unemployment.	Lesson – When the Government Uses Admin Privileges Lesson – Public Financial Assistance Programs
Personal Financial Literacy – Investing in Education and Skills	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Analyze the relationship between education and training and earnings throughout the student’s lifetime.	Lesson – Planning Your Career Path
Investigate and evaluate the costs and benefits of various postsecondary education and training institutions.	Lesson – Financing Your Education
Describe the process for completing grant and scholarship applications, including the Free Application for Federal Student Aid (FAFSA®) provided by the U.S. Department of Education or the Texas Application for State Financial Aid (TASFA).	Lesson – Financing Your Education Lesson – Go to College or Start Working?
Analyze and compare various student grant and loan options, including private and federal loans.	Lesson – Financing Your Education Lesson – Student Loan Repayment Calculator
Interpret data from a student aid report.	Lesson – Financing Your Education
Research and align personal interests and skills with potential careers and postsecondary education to assure a life strategy that will produce employment the student enjoys with a desired standard of living.	Lesson – Planning Your Career Path
Personal Financial Literacy – Earning	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Identify sources of income, including wages and salaries, profits, interest, rent, dividends, and capital gains.	Budget Game – Core Concept Lesson – What’s in Your Compensation Package?
Compare common employee benefits such as health insurance, sick leave, retirement plans, and other tax-favored health and dependent care plans.	Lesson – The Ultimate Employee Guide
Differentiate among and calculate gross, net, and taxable income.	Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips & Tricks
Identify factors such as educational attainment and market demand for careers that can influence the labor market and affect income.	Lesson – Why Do Some Jobs Pay More Than Others?
Personal Financial Literacy – Entrepreneurship	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Describe the role of the entrepreneur in creating businesses.	Lesson – So, You Want to Be Your Own Boss? Lesson – From Lemonade Stands to Amazon Home Delivery
Explain how an entrepreneur earns income, including through profits from the creation or ownership of businesses.	Lesson – So, You Want to Be Your Own Boss?
Compare total compensation, additional benefits, and obligations as a self-employed or independent contractor and as an employee.	Lesson – Starting a Business 101 Lesson – So, You Want to Be Your Own Boss?
Discuss the resources available for entrepreneurship and the federal, state, and local agencies available to assist with or provide grants for the creation of a small business.	Lesson – Starting a Business 101 Lesson – So, You Want to Be Your Own Boss? Lesson – Is an Annuity Right for You?
Analyze the risks and rewards of entrepreneurship, including those associated with starting a new business, owning a small business, and purchasing a franchise.	Lesson – Knowing Your Risks & Risk Tolerance
Explain the characteristics of business organizations such as sole proprietorships, partnerships, and corporations.	Lesson – From Lemonade Stands to Amazon Home Delivery Lesson – How to Structure Your Business
Personal Financial Literacy – Spending	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Develop financial goals for the short, medium, and long term that are specific, measurable, attainable, realistic, and time based.	Budget Game – Core Concept Lesson – Planning Long-Term Purchases
Analyze the opportunity costs of spending and saving in recognizing short-, medium-, and long-term goals.	Lesson – Planning Long-Term Purchases
Identify and prioritize types of purchases and charitable giving.	Budget Game – Core Concept Lesson – A Guide to Effective Charitable Donations
Evaluate various forms of financial exchange such as cash, checks, credit cards, debit cards, mobile payment applications, and electronic transfers.	Lesson – What is Money?
Discuss the importance of tracking income and expenses to reconcile financial records.	Lesson – Receipts: What to Keep and Why Lesson – Balance Your Books in 10-Minutes Lesson – Tame Your Financial Paperwork
Evaluate the impact of unplanned spending.	Budget Game – Core Concept
Analyze costs and benefits of owning versus renting housing.	Activity – Find Out Your Monthly Home Budget Activity – Buy vs. Lease a Car Calculator Lesson – Mortgage Options for First-Time Homebuyers Lesson – Can You Afford To Buy That House? Lesson – Should You Rent or Should You Buy?
Analyze costs and benefits of owning versus leasing a vehicle.	Activity – Calculate Your Car Loan Payments
Personal Financial Literacy – Credit and Debt	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Compare and contrast sources of credit such as banks, merchants, peer-to-peer, payday loans, and title loans.	Budget Game – Core Concept Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage
Identify the characteristics and dangers of predatory lending practices.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage
Compare and contrast types of credit, including revolving and installment credit, and collateralized loans versus unsecured credit.	Budget Game – Core Concept Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – How Borrowers Manage Personal Debt
Discuss how character, capacity, and collateral can adversely or positively impact an individual’s credit rating and ability to obtain credit.	Budget Game – Core Concept Lesson – What Your Credit Report Says About You Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Can You Afford To Buy That House?
Explain how to access a credit report and score and interpret a sample credit report and score.	Budget Game – Core Concept Lesson – What Your Credit Report Says About You
Describe the importance of monitoring credit reports regularly and addressing errors.	Lesson – What Your Credit Report Says About You Lesson – What Your Spending Data Says About You
Discuss how personal factors such as medical expenses, job loss, divorce, or a failed business could lead to bankruptcy.	Lesson – What Is Bankruptcy?
Determine and discuss if and when to use credit by considering the truth in lending disclosures.	Budget Game – Core Concept Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – How to Use Debt to Your Advantage
Personal Financial Literacy – Saving and Investing	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Determine the exponential growth benefits of starting early to invest with continuous contributions.	Stock Game – Core Concept Activity – Model Your Financial Future (A Lesson on Investment Growth)
Determine the number of years it will take for savings to double in value by using the rule of 72.	Activity – Watch How Your Savings Could Grow (A Lesson in compound interest) Lesson – Demystifying the Impact of Interest Rates Activity – The Magic of Compound Interest
Evaluate the costs and benefits of various savings options such as bank savings accounts, certificates of deposit, and money market mutual funds.	Stock Game – Core Concept
Evaluate risk and return of various investment options, including stocks, bonds, mutual funds, and exchangetraded funds (ETFs).	Stock Game – Core Concept
Evaluate the relative benefits of pre-tax and post-tax investing.	Budget Game – Core Concept
Develop a short-term saving strategy to achieve a goal such as establishing and maintaining an emergency fund.	Budget Game – Core Concept Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Develop an intermediate-term saving and investing strategy to achieve a goal such as accumulating a down payment on a home or vehicle.	Lesson – Planning Long-Term Purchases
Develop a long-term investing strategy to achieve a goal such as a financially secure retirement.	Lesson – The Secret to a Comfortable Retirement
Personal Financial Literacy – Protecting and Insuring	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Apply risk management strategies, including avoiding, reducing, retaining, and transferring risk.	Lesson – Knowing Your Risks & Risk Tolerance Lesson – What Damage Does Home Insurance Cover?
Define insurance terminology, including premiums, deductibles, co-pays, and policy limits.	Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net
Explain the costs and benefits of different types and sources of health insurance.	Lesson – Why Health Insurance is So Expensive
Explain the costs and benefits of disability and long-term care insurance.	Lesson – Life Insurance: The Ultimate Safety Net
Explain the costs and benefits of life insurance, including term insurance and whole life insurance.	Lesson – Life Insurance: The Ultimate Safety Net
Explain the costs and benefits of property insurance, including homeowner’s and renter’s insurance.	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Rules for Renters & Homeowners Lesson – Property Insurance Quote Builder
Explain the costs and benefits of automobile insurance and factors that impact the price of insurance, including the type of vehicle, age and sex of driver, driving record, deductible, and geographic location.	Lesson – Car Insurance: How to Lower Your Rates
Identify ways to reduce risk of identity theft and protect personal information	Lesson – How to Avoid Identity Theft, Scams & Fraud
Describe and identify examples of common financial schemes and scams such as Ponzi schemes and pyramid, phishing, check cashing, and home renovation scams.	Lesson – How to Avoid Identity Theft, Scams & Fraud Lesson – The 6 Elements of a Binding Contract
Explain how consumer protection agencies protect consumers against fraud.	Lesson – Protect Yourself as a Consumer
Explain the importance of estate planning, including guardianship of minor children, wills, beneficiary designation, power of attorney, living will, and medical directives.	Lesson – Who Gets Your Stuff When You’re Gone?
Personal Financial Literacy – Skills	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Use problem-solving and decision-making processes to identify a problem, gather information, list and consider options, consider advantages and disadvantages, choose and implement a solution, and evaluate the effectiveness of the solution.	Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – How to Plan for Business Success
Develop a budget that addresses short-, medium-, and long-term financial goals.	Budget Game – Core Concept Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Evaluating Big-Ticket Purchases
Explain why earning income, spending, credit, debt, saving and investing, and protecting and insuring assets are important parts of a comprehensive financial plan and develop a plan that incorporates these components.	Budget Game – Core Concept Lesson – Proven Techniques to Stop Overspending Lesson – How to Develop an Investing Strategy Lesson – A Strategy to Build Wealth, Not Debt Lesson – The Secret to a Comfortable Retirement Lesson – Limits and Logs – Personalized Spending and Saving