Utah Financial Literacy Standards: Helpful Teacher Resource

Utah Financial Literacy Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the Utah General Financial Literacy Standards.

Legend:

Long-Term Game
Comprehensive Chapter
Short Lesson
Interactive Calculator
Includes Automatically-Graded Assessment

Utah Financial Literacy Standard	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Analyze the role of cultural, social, and emotional influences on financial behavior.
Evaluate the role of emotions, attitudes, and behavior in making financial decisions.	Lesson – Break Free From Money Stress with a Budget Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Spending and Saving Plans
Recognize that individuals are responsible for their own financial decisions and for sebsequent positive and negative consequences.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Relate instant satisfaction and delayed gratification to impulse buying and planned expenditures.	Budget Game – Core Component Lesson – Proven Techniques to Stop Overspending Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Spending and Saving Plans
Describe the influence and social pressure and marketing strategies as related to purchased decisions.	Lesson – Spending and Saving Plans
Explain how scarcity of financial resources affects wants and needs.	Lesson – What is Scarcity? Lesson – Opportunity Cost
Understand the law of supply and demand as a major economic force.	Lesson – Supply and Demand Examples in the Stock Market Lesson – What is Economics?
Understand command, market, and mixed economic systems.	Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism
Discuss historic and current examples of each economic system and the effects on economic growth.	Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism
Identify and define the types of financial risks, including inflation, deflation, and recession.	Lesson – The Business Cycle Lesson – Inflation Lesson – What Is Monetary Policy?
Define a rational decision-making process and the steps of financial planning.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Define opportunity cost (tradeoffs) and their role in decision making.	Budget Game – Core Component Lesson – Opportunity Cost
Describe a rational decision-making process.	Lesson – Break Free From Money Stress with a Budget Lesson – How to Plan for Business Success
Identify short- and long-term financial decisions and the impact they have on financial planning.	Budget Game – Core Component Lesson – Planning for Long-Term Purchases Lesson – The Secret to a Comfortable Retirement Lesson – How to Prepare for Unexpected Expenses Lesson – A Strategy to Build Wealth, Not Debt Lesson – The Cost of Raising a Family
Define the elements of a financial plan.	Budget Game – Core Component Lesson – Proven Techniques to Stop Overspending Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Spending and Saving Plans
Explain how setting goals affect personal financial planning.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Identify spending habits and their connection to personal financial values.	Budget Game – Core Component
Identify and create short- and long-term financial goals.	Budget Game – Core Component Lesson – Planning for Long-Term Purchases Lesson – The Secret to a Comfortable Retirement Lesson – How to Prepare for Unexpected Expenses Lesson – A Strategy to Build Wealth, Not Debt Lesson – The Cost of Raising a Family
Identify various sources of income and specific employability skills.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Identify sources of income such as, wages, commissions, investment icome, benefits, inheritance, and gifts.	Lesson – What’s in Your Compensation Package?
Evaluate and compare career opportunities based on individual interests, skills, and educational requirements; the value of work to society; income potential; and the supply and demand of the workforce, including unemployment.	Lesson – Planning Your Career Path Lesson – Work vs. Study Lesson – Starting a Business 101 101 Lesson – The Anatomy of Unemployment and other programs
Compare the risks and rewards of entrepreneurship/self-employment.	Lesson – Starting a Business 101 101 Lesson – What is Entrepreneurship?
Compare income to the cost-of-living in various geographical areas and the impact it has on purchasing power.	Budget Game – Core Component
Understand the effects of state-and federal taxes and the requirement to file, including income, filing status and dependency tax law, the differences between refundable credits, non-refundable credits, and adjustments, and the differences between gross and net income.	Budget Game – Core Component Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips & Tricks Lesson – Common Tax Deducations Lesson – Uncovering Hidden Income Taxes You Owe Lesson – Sales Tax: Who Pays, Collects, and Why?
Understand basic employment forms and processes, including W-2, W-4, I-9, and Form 1040.	Lesson – Income Tax Filing Tips & Tricks
Understand and begin preparation for career and post-high school training.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Recognize and explore the correlation between education, training, and potential lifetime income.	Lesson – Planning Your Career Path Lesson – Work vs. Study Lesson – How to Use Debt to Your Advantage Lesson – What’s in Your Compensation Package?
Calculate the costs of post-high school training options and analyze the return on investment (ROI) based on career choices, including understanding the cost differences between public and private, and between nonprofit and for-profit education and training.	Lesson – Financing Your Education Lesson – Go to College or Start Working? Lesson – Are Internships Worth It?
Identify sources of funding to assist in post-high school education opportunities and the cost of repayment.	Lesson – Financing Your Education Lesson – How to Use Debt to Your Advantage
Understand the use and advantages of 529 plans and the benefit of planning early for paying for the cost of post-secondary education and training.	Lesson – Financing Your Education
Understand the process for and benefits of FAFSA completion.	Lesson – Financing Your Education
Identify components to be included on a resume and/or electronic professional profile, such as appropriate contact information; educational, work, and volunteer experience; skills; certificates obtained; accomplishments; interests; and references.	Lesson – Biggest Mistakes of Job Seekers Lesson – Acing Job Interviews Lesson – How to Get Past Resume Software
Identify sources and strategies for and benefits of networking for finding employment, whether for summer jobs or full-time career placement.	Budget Game – Core Component Lesson – Planning Your Career Path
Describe and discuss financial institutions and demonstrate how to manage personal financial accounts.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explain the role of the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Association (NCUA).	Lesson – Why You Should Care About the Fed Lesson – Credit Cards: Terms, Fees, and More Lesson – Protect Yourself as a Consumer
Compare the roles of financial institutions and their services, such as banks, credit unions, investment or brokerage firms, insurance companies, and loan agencies.	Lesson – Choosing the Best Banking Option for You
Demonstrate how to manage checking/debit and saving accounts, both manually and/or electronically, including reconciliation.	Budget Game – Core Component Lesson – How Debit Cards Work Lesson – Automatic Payments: Convenience vs. Risk Lesson – Balance Your Books in 10-Minutes
Describe available consumer banking technologies.	Lesson – Choosing the Best Banking Option for You
Explain the potential consequences of checking account mismanagement, such as non-sufficient funds (NSF) handling, overdraft processing, and the role of ChexSystems.	Budget Game – Core Component Lesson – How Debit Cards Work Lesson – Automatic Payments: Convenience vs. Risk Lesson – Balance Your Books in 10-Minutes
Discuss the dynamics of saving and investing.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explain how paying yourself first (PYF) early and often influences positive progress toward long-term financial goals.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – A Strategy to Build Wealth, Not Debt Lesson – The Secret to a Comfortable Retirement Activity – Watch How Your Savings Could Grow
Identify and understand basic saving options such as savings accounts and Certificates of Deposit. Understand that savings are designed to preserve principal.	Lesson – What is Diversification & How to Spread Your Risk Lesson – How to Develop an Investing Strategy Investing101 Certification
Identify and understand investment options, including retirement planning, long- and short-term investments, and dividend reinvestment plans. Understand that investments put principal at risk.	Stock Game – Core Component Lesson – What is Diversification & How to Spread Your Risk Lesson – How to Develop an Investing Strategy Lesson – The Secret to a Comfortable Retirement Lesson – Planning Long-Term Purchases
Identfy types of long-term retirement investments, such as IRA, Roth IRA, 401(k), and 403(b), as well as reasons to invest.	Lesson – The Secret to a Comfortable Retirement Lesson – Why invest in Stocks? Investing101 Certification
Understand the role of risk management in asset protection.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Discuss the purposes of insurance/risk management.	Lesson – Knowing Your Risks & Risk Tolerance Lesson – Why Health Insurance is So Expensive Lesson – Car Insurance: How to Lower Your Rates Lesson – What’s Not Covered in Renter’s Insurance?
Define common insurance options and their purposes, such as automobile, health, homeowner/renter, whole/term life, long-term care and disability.	Lesson – Why Health Insurance is So Expensive Lesson – Car Insurance: How to Lower Your Rates Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Homeowner’s Insurance Lesson – Life Insurance: The Ultimate Safety Net
Define terms of a basic insurance policy, such as contract, limits of coverage, premium, deductible, grace period, and lifetime limit.	Lesson – Why Health Insurance is So Expensive Lesson – Car Insurance: How to Lower Your Rates Lesson – Life Insurance: The Ultimate Safety Net
Discuss insurance needs at different stages of life.	Lesson – Why Health Insurance is So Expensive Lesson – Car Insurance: How to Lower Your Rates Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Homeowner’s Insurance Lesson – Life Insurance: The Ultimate Safety Net
Understand identification and designation of beneficiaries.	Lesson – Life Insurance: The Ultimate Safety Net
Identify and explain the process of budgeting based on calculated income.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Develop a budget.	Budget Game – Core Component Lesson – Proven Techniques to Stop Overspending Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Spending and Saving Plans Lesson – Break Free From Money Stress with a Budget
Identify and prioritize fixed, variable, and periodic budget categories.	Budget Game – Core Component Lesson – Break Free From Money Stress with a Budget
Emphasize the importance of proactive budget priorities, such as pay yourself first, emergency/opportunity fund, insurance, and charitable or other voluntary contributions.	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 – A Guide to Effective Charitable Donations
Discuss the pros and cons of charitable giving.	Lesson – A Guide to Effective Charitable Donations Lesson – Achieve Financial Goals with a Spending Plan
List ways and examples of charitable giving.	Lesson – A Guide to Effective Charitable Donations Lesson – Achieve Financial Goals with a Spending Plan
Compare tools for tracking of a budget, income and expenditures, such as the envelope system, paper tracking, and online or software options.	Budget Game – Core Component Lesson – Receipts: What to Keep and Why Lesson – Tame Your Financial Paperwork Lesson – Reconciling accounts
Emphasize the importance of comparison shopping, buying strategies, negotiation, and sales and marketing strategies in purchasing.	Lesson – How Do You Stop Impulse Purchases? Lesson – Proven Techniques to Stop Overspending
Identify the process, rights, and responsibilities relating to renting, leasing, and purchasing a home.	Lesson – Mortgage Options for First-Time Homebuyers Activity – Find Out Your Monthly Home Budget
Identify the process, rights, and responsibilities relating to renting, leasing, and purchasing a vehicle.	Lesson – The Car Buying Checklist Activity – Calculate Your Car Loan Payments
Understand the similarities and differences between “principal” and “interest” on an amortization schedule.	Lesson – The Importance of Interest Rates Activity – Use the Credit Card Payments Calculator
Describe and discuss the impact of credit and debt on personal money management.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Discuss the purpose and role of credit and explain the value of building and maintaining a healthy credit rating, including elements of creditworthiness: character, capacity, capital, collateral, and conditions.	Budget Game – Core Component Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Rating Lesson – Credit Cards: Terms, Fees, and More
Explore and discuss the pros and cons of basic types of credit, such as unsecured vs, secured credit, credit cards, installment loans, revolving credit, student loans, and predatory lenders.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage Lesson – A Beginner’s Guide to Borrowing Wisely
Describe the risks and responsibilities associated with using credit, such as APR, grace period, late fees, finance charges, default rates, interest, and closing costs.	Budget Game – Core Component Lesson – Credit Cards: Terms, Fees, and More Lesson – A Beginner’s Guide to Borrowing Wisely
Understand principal and interest calculations.	Budget Game – Core Component Lesson – The Importance of Interest Rates Activity – Use the Credit Card Payments Calculator
Calculate how long it takes to repay debt by making minimum payments on installment loans and revolving accounts.	Budget Game – Core Component Lesson – The Importance of Interest Rates Activity – Use the Credit Card Payments Calculator
Locate and use online calculators to determine how principal and interest aggregate monthly for long-term debt such as mortgages, vehicles, personal loans, and credit cards.	Activity – Calculate Your Car Loan Payments Activity – Use the Credit Card Payments Calculator Activity – Find Out Your Monthly Home Budget Activity – Rent or Buy: Which is Right for You?
Evaluate the costs and risks of payday and predatory lending.	Lesson – How to Use Debt to Your Advantage Lesson – What to Do When You Need Money Fast
Describe the personal and societal effects of bankruptcy and identify circumstances that lead to bankruptcy, such as uninsured medical costs, family break-up, or loss of job.	Lesson – What Is Bankruptcy? Lesson – How Borrowers Manage Personal Debt
Explain and understand credit reports and scores.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Identify the three major credit bureaus.	Lesson – What Your Credit Report Says About You
Understand the legal right to a free annual credit report (AnnualCreditReport.com).	Lesson – What Your Credit Report Says About You
Evaluate and identify components of a credit report, including derogatory remarks, and the warning signs of credit abuse, such as late fees, missed payments, collection notices, and bounced checks.	Lesson – What Your Credit Report Says About You
Define rights and responsibilities of buyers and sellers under consumer protection laws.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Understand financial contracts tied to consumer purchases, such as cell phone, cable or satellite plans, and membership fees.	Lesson – What makes a contract valid? Lesson – Protect Yourself as a Consumer
Discuss the negative impacts of predatory and payday lending practices.	Lesson – How to Use Debt to Your Advantage Lesson – What to Do When You Need Money Fast
Identify ways to avoid identity theft and fraud, such as securing sensitive financial data, using care when participating in online commerce, avoiding phishing and pharming, and properly disposing of sensitive documents.	Lesson – How to Avoid Identity Theft, Scams & Fraud Lesson – Tame Your Financial Paperwork
Understand how to recover from fraud and identity theft.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Discuss ways to avoid financial schemes such as Ponzi schemes and other questionable and illegal practices.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Describe the negative consequences of gambling and playing the lottery.	Investing101 Certification
Identify the pros and cons on online commerce, including how to conduct transactions safely.	Lesson – Proven Techniques to Stop Overspending Lesson – Protect Yourself as a Consumer
Understand the role of government in protecting the consumer.	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explain the purposes and features of consumer protection laws.	Lesson – Protect Yourself as a Consumer
Identify federal and state entities that exist to protect consumers from forms of fraud and abuse.	Lesson – Protect Yourself as a Consumer Lesson – Credit Cards: Terms, Fees, and More Lesson – How to Avoid Identity Theft, Scams & Fraud