Utah Financial Literacy Standards Alignment
We compared our curriculum and the core financial literacy concepts that are covered in our Budget and Stock Games to the personal finance standards for the state of Utah.
A list of the Strands and Standards for General Financial Literacy for Utah are below, along with a selection of activities from our games and library that align with each standard. Our curriculum library contains over 300 total lessons that can be customized for every class, so this may not include every lesson that may apply for each standard.
Legend:
- : Long-Term Game
- : Comprehensive Chapter
- : Short Lesson
- : Interactive Calculator
- : Includes Automatically-Graded Assessment
| Knowledge Group | Standard | Activity | |||||
|---|---|---|---|---|---|---|---|
| Analyze the role of cultural, social, and emotional influences on financial behavior. | Evaluate the role of emotions, attitudes, and behavior in making financial decisions. | Spending and Savings Plans Planning Long Term Purchases Researching Spending Budgeting and Spending Strategies Building Wealth Budget Game | |||||
| Recognize that individuals are responsible for their own financil decisions and for subsequent positive and negative consequences. | Budget Game Managing Bills | ||||||
| Relate instant satisfaction and delayed gratification to impulse buying and planned expenditures. | Budget Game Researching Spending Spending and Savings Plans | ||||||
| Describe the influence and social pressure and marketing strategies as related to purchasing decisions. | Spending and Savings Plans Personal Selling Foundations of Marketing | ||||||
| Explain how scarcity of financial resources affects wants and needs. | Why is there Scarcity? What is Supply? What is Demand? Supply and Demand Examples in the Stock Market | ||||||
| Understand the law of supply and demand as a major economic force. | What is Economics? What is Supply? What is Demand? Supply and Demand Examples in the Stock Market | ||||||
| Understand command, market, and mixed economic systems. | Comparative Economic Systems | ||||||
| Discuss historic and current examples of each economic system and the effects on economic growth. | Comparative Economic Systems Stock Market Crash of 1929 What is the NYSE? What is Wall Street? | ||||||
| Identify and define the types of financial risks, including inflation, deflation, and recession. | The Business Cycle Inflation Importance of Interest Rates | ||||||
| Define a rational decision-making process and the steps of financial planning. | Define opportunity cost (tradeoffs) and their role in decision making. | Budget Game Why is there scarcity? What is Opportunity Cost? | |||||
| Describe a rational decision making process. | Researching Spending Planning Long-Term Purchases Buy vs Lease Consumer Rights and Responsibilities | ||||||
| Identify short and long-term financial decisions and the impact they have on financial planning. | Researching Spending Planning Long-Term Purchases Retirement Planning | ||||||
| Define the elements of a financial plan. | Budgeting Spending and Savings Plans Preparing For Retirement What are Financial Records? | ||||||
| Explain how setting goals affect personal financial planning | Identify spending habits and their connection to personal financial values. | Budget Game | |||||
| Identify and create short and long-term financial goals. | Budget Game Spending and Savings Plans All About Budgeting | ||||||
| Identify various sources of income and specific employability skills. | Identify sources of income such as, wages, commissions, investment income, benefits, inheritance, and gifts. | Budget Game Income and Compensation Building Wealth Investing 101 – Investor’s Guide to Success | |||||
| 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. | Career Center Job Search Tool Income and Compensation Career Development Unemployment and other Assistance Programs How To Choose an Internship | ||||||
| Compare the risks and rewards of entrepreneurship/self-employment. | What is Entrepreneurship? Types of Companies Forms of Business Ownership Income and Compensation Starting a Business | ||||||
| Compare income to the cost-of-living in various geographical areas and the impact it has on purchasing power. | Budget Game | ||||||
| Understand and 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 Income Tax and the Form 1040 Common Tax Deductions Common Tax Additions | ||||||
| Understand basic employment forms and processes, including W-2, W-4, I-9, and Form 1040. | Budget Game Income Tax and the Form 1040 Common Tax Deductions Common Tax Additions | ||||||
| Understand and begin preparation for career and post-high school training. | Recognize and explore the correlation between education, training, and potential lifetime income. | Job Search Engine Career Development Certifications in the Finance Industry Budget Game | |||||
| 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. | Spending and Savings Plans Student Loans | ||||||
| Identify sources of funding to assist in port-high school education opportunities and the cost of repayment. | Student Loans | ||||||
| Understand the process for the benefits of FAFSA completion. | Student Loans | ||||||
| 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. | Using Keywords in your Resume Biggest Mistakes of Job Seekers Acing Job Interviews | ||||||
| Identify sources and strategies for and benefits of networking for finding employment, whether for summer jobs or full-time career placement. | Career Development Budget Game | ||||||
| Describe and discuss financial institutions and demonstrate how to manage personal financial accounts. | Explain the role of the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Association (NCUA). | What is the Federal Reserve? Banks, Credit Unions, and Savings & Loan Institutions | |||||
| Compare the roles of financial institutions and their services, such as banks, credit unions, investment or brokerage firms, insurance companies, and loan agencies. | Banks, Credit Unions, and Savings & Loan Institutions Certifications in the Finance Industry Types of Insurance What is a Brokerage? | ||||||
| Demonstrate how to manage checking/debit and saving accounts, both manually and/or electronically, including reconciliation. | Budget Game Money – Types of Stored Value Reconciling Accounts | ||||||
| Describe available consumer banking technologies. | Automatic Payments Banks, Credit Unions, and Savings & Loan Institutions | ||||||
| Explain the potential consequences of checking account mismanagement, such as non-sufficient funds (NSF) handling, overdraft processing, and the role of ChexSystems. | Budget Game Automatic Payments Banks, Credit Unions, and Savings & Loan Institutions | ||||||
| Discuss the dynamics of saving and investing. | Explain how paying yourself first (PYF) early and often influences positive progress toward long-term financial goals. | Budget Game Pay Yourself First Millionaire Calculator Spending and Savings Plans | |||||
| Identify and understand basic saving options such as savings accounts and Certificates of Deposit. Understand that savings are designed to preserve principal. | Investing101 – Types of Investments | ||||||
| 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 Retirement Planning Investing101 – Types of Investments What is a Stock? What is an ETF? What is a Mutual Fund? What is a Bond? | ||||||
| Identify types of long-term retirement investments, such as IRA, Roth IRA, 401 (k), and 403(b), as well as reasons to invest. | Retirement Planning | ||||||
| Demonstrate time value of money (TVM) princiles by using the rule of 72 and by manipulating the five variables used in basic TVM calculations. | Compound Interest Calculator What are Interest Rates? | ||||||
| Understand the role of risk management in asset protection. | Discuss the purposes of insurance/risk management. | Types of Insurance Internal Risk Management | |||||
| Define common insurance options and their purposes, such as automobile, health, homeowner/renter, whole/term life, long-term care and disability. | Types of Insurance Car Insurance Renter’s Insurance Homeowner’s Insurance Life Insurance Health Insurance | ||||||
| Define terms of a basic insurance policy, such as contract, limits of coverage, premium, deductible grace period, and lifetime limit. | Types of Insurance Car Insurance Renter’s Insurance Homeowner’s Insurance Life Insurance Health Insurance | ||||||
| Discuss insurance needs at different stages of life. | Types of Insurance Car Insurance Renter’s Insurance Homeowner’s Insurance Life Insurance Health Insurance | ||||||
| Understand identification and designation of beneficiaries. | Types of Insurance Simple and Living Wills | ||||||
| Identify and explain the process of budgeting based on calculated income. | Develop a budget. | Budget Game All About Budgeting Spending and Savings Plans Home Budget Calculator | |||||
| Identify and prioritize fixed, variable, and periodic budget categories. | Budget Game Juggling Bills Spending and Savings Plans All About Budgeting | ||||||
| Emphasize the importance of proactive budget priorities, such as pay yourself first, emergency/opportunity fund, insurance, and charitable or other voluntary contributions. | Budget Game All About Budgeting Pay Yourself First Types of Insurance Charitable Giving | ||||||
| Discuss the pros and cons of charitable giving. | Charitable Giving | ||||||
| List ways and examples of charitable giving. | Charitable Giving | ||||||
| Compare tools for tracking of a budget, income and expenditures, such as the envelope system, paper tracking, and online or software options. | Budget Game All About Budgeting | ||||||
| Emphasize the importance of comparison shopping, buying strategies, negotiation, and sales and marketing strategies in purchasing. | Budget Game Comparison Shopping Researching Spending Foundations of Marketing | ||||||
| Identify the process, rights, and responsibilities relating to renting, leasing, and purchasing a home. | Renting and Leasing Mortgages Buy vs Lease Calculator Types of Credit | ||||||
| Identify the process, rights, and responsibilities relating to renting, leasing, and purchasing a vehicle. | Car Loan Calculator Using Spreadsheets to compare Car Loans | ||||||
| Understand the similarities and differences between “principal” and “interest” on an amortization schedule. | Types of Credit Mortgages Car Loan Calculator | ||||||
| Explain the purpose of co-signers and collateral when applying for a loan. | Types of Credit | ||||||
| Describe and discuss the impact of credit and debt on personal money management. | Discuss the purpose and role of credit and explain the value of building and mantaining a healthy credit rating, including elements of creditworthiness: character, capacity, capital, collateral, and conditions. | Budget Game Types of Credit Credit Reports | |||||
| 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. | Budget Game Types of Credit Credit Cards Short-Term Financing Good Debt, Bad Debt | ||||||
| Describe the risks and responsibitilies associated with using credit, such as APR, grace period, late fees, finance charges, default rates, interest, and closing costs. | Budget Game Short-Term Financing Good Debt, Bad Debt Credit Card Payment Calculator | ||||||
| Understand principal and interest calculations. | Budget Game Credit Card Payment Calculator Car Loan Calculator Types of Credit | ||||||
| Calculate how long it takes to repay debt by making minimum payments on installment loans and revolving accounts. | Credit Card Payment 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. | Car Loan Calculator Using Spreadsheets to compare Car Loans | ||||||
| Evaluate the costs and risks of payday and predatory lending. | Good Debt, Bad Debt | ||||||
| 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. | What is Bankruptcy Debt Management Services | ||||||
| Explain and understand credit reports and scores | Identify the three major credit bureaus. | Credit Reports | |||||
| Understand the legal right to a free annual credit report (AnnualCreditReport.com) | Credit Reports | ||||||
| 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. | Credit Reports | ||||||
| Define rights and responsibilities of buyers and sellers under consumer protection laws. | Understand financial contracts tied to consumer purchases, such as cell phone, cable or satellite plans, and membership fees. | Budget Game What makes a contract valid? | |||||
| Discuss the negative impacts of predatory and payday lending practices. | Good Debt, Bad Debt Short-Term Financing | ||||||
| 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. | Protecting Against Fraud | ||||||
| Understand how to recover from fraud and identity theft. | Protecting Against Fraud | ||||||
| Discuss ways to avoid financial schemes such as Ponzi schemes and other questionable and illegal practices. | Protecting Against Fraud Consumer Rights and Responsibilities | ||||||
| Identify the pros and cons of online commerce, including how to conduct transactions safely. | Protecting Against Fraud Consumer Rights and Responsibilities | ||||||
| Understand the role of government in protecting the consumer. | Explain the purposes and features of consumer protection laws. | Consumer Rights and Responsibilities | |||||
| Identify federal and state entities that exist to protect consumers from forms of fraud and abuse. | Consumer Rights and Responsibilities |
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