Washington Financial Literacy Standards: Helpful Resources

Washington Financial Literacy Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements from the Washington State Financial Education Standards Chart

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
Spending and Saving
Specify how monetary and non-monetary assets can contribute to net worth.	Activity – Use the Net Worth Calculator Lesson – What is Wealth? Lesson – A Strategy to Build Wealth, Not Debt
Investigate changes in personal spending behavior that contribute to wealth building.	Lesson – Break Free From Money Stress with a Budget Lesson – A Strategy to Build Wealth, Not Debt Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Differentiate between an expense that is tax deductible and one that is not.	Lesson – Tax Credits & Deductions You Need to Know Lesson – Uncovering Hidden Income Taxes You Owe Lesson – Tax Basics You Need to Know
Devise a system to retain evidence of tax deductible expenditures.	Lesson – Tame Your Financial Paperwork Lesson – Reconciling accounts Lesson – Financing Records and Receipts
Investigate the records required to claim possible tax deductions or credits.	Lesson – Tax Credits & Deductions You Need to Know Lesson – Uncovering Hidden Income Taxes You Owe Lesson – Tax Basics You Need to Know
Compare the features and costs of online and mobile bill payment services offered by different institutions.	Lesson – Automatic Payments: Convenience vs. Risk
Compare the costs of cashing a check with various third parties, such as banks and credit unions, check-cashing services, and retail outlets.	Lesson – How Debit Cards Work Lesson – Choosing the Best Banking Option for You
Demonstrate how to schedule and manage bill payments.	Lesson – Automatic Payments: Convenience vs. Risk
Write a check	Lesson – What is Money?
Reconcile the balance of a checking account and verify the balance of a debit account.	Lesson – What is Money? Lesson – How Debit Cards Work
Explain how to verify printed and online account statements for accuracy.	Budget Game – Core Component
Demonstrate how to use comparison shopping skills to buy or finance a major purchase.	Lesson – Researching Shopping
Compare the advantages and disadvantages of owning a house versus renting a house.	Activity – Rent or Buy: Which is Right for You?
Evaluate specific charities based on purpose, management, outcomes or results, and reputation.	Lesson – A Guide to Effective Charitable Donations
Credit and Debt	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Explain how credit card grace periods, methods of interest calculation (e.g., annual percentage rate) and fees affect borrowing costs.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More
Categorize the types of information needed when applying for credit.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – What Your Credit Report Says About You
Decide the most cost-effective loan option for paying for a car.	Activity – Calculate Your Car Loan Payments Lesson – Buying a car
Compare alternatives to loans as a means of paying for postsecondary education.	Lesson – Work or Study Lesson – Financing Your Education
Predict the potential consequences of deferred payment of student loans.	Lesson – Financing Your Education
Differentiate between adjustable- and fixed-rate mortgages.	Lesson – Mortgage Options for First-Time Homebuyers
Explain the effect of debt on a person’s net worth.	Budget Game – Core Component Activity – Use the Net Worth Calculator Lesson – A Strategy to Build Wealth, Not Debt Lesson – What is Wealth?
Summarize online information about the Fair Credit Reporting Act.	Lesson – How Borrowers Manage Personal Debt
Explain the usefulness of credit reports to borrowers and to lenders.	Lesson – What Your Credit Report Says About You
Give examples of permissible uses of a credit report other than granting credit.	Lesson – What Your Credit Report Says About You
Identify the primary organizations that maintain and provide consumer credit records.	Lesson – What Your Credit Report Says About You
Categorize the information in a credit report and how long it is retained.	Lesson – What Your Credit Report Says About You
Investigate ways that a negative credit report can affect a consumer’s options.	Lesson – What Your Credit Report Says About You
Outline the process of disputing inaccurate credit report data.	Lesson – What Your Credit Report Says About You
Summarize factors that affect a particular credit scoring system.	Lesson – What Your Credit Report Says About You Lesson – Credit Cards: Terms, Fees, and More
Predict how a credit score affects creditworthiness and the cost of credit.	Lesson – What Your Credit Report Says About You Lesson – Credit Cards: Terms, Fees, and More
Develop a personal financial plan to manage debt, including working directly with lenders.	Lesson – How Borrowers Manage Personal Debt Lesson – Debt Relief: Is Consolidation the Answer? Lesson – How to Negotiate With Creditors Lesson – Getting Help With Debt Repayment
Examine or research the types of services that financial institutions or consumer credit counseling agencies offer for debt restructuring.	Lesson – How Borrowers Manage Personal Debt Lesson – Debt Relief: Is Consolidation the Answer? Lesson – How to Negotiate With Creditors Lesson – Getting Help With Debt Repayment
Investigate the purpose of bankruptcy and its possible negative effects on assets, employability, and credit cost and availability.	Lesson – What Is Bankruptcy?
Investigate how student loan obligations differ from other kinds of debt.	Lesson – What Is Bankruptcy? Lesson – Financing Your Education
Summarize online information about the Equal Credit Opportunity Act.	Lesson – Credit Cards: Terms, Fees, and More
Research online information about consumer credit rights available from the Federal Trade Commission	Lesson – Credit Cards: Terms, Fees, and More
Give examples of how the Consumer Financial Protection Bureau protects borrowers and provides information about credit issues.	Lesson – What Your Credit Report Says About You
Describe debtors’ and creditors’ rights related to wage garnishment and repossession when an overdue debt is not paid.	Lesson – How Borrowers Manage Personal Debt
Give examples of legal, illegal, and fraudulent debt collection practices covered by the Fair Debt Collection Practices Act.	Lesson – How Borrowers Manage Personal Debt
Employment and Income	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Revise a career plan that aligns with personal interests, financial goals, and desired lifestyle.	Lesson – Planning Your Career Path
Develop a résumé and cover letter for a specific job of interest	Lesson – How to Get Past Resume Software
Analyze employee benefits and explain why they are forms of compensation.	Lesson – The Ultimate Employee Guide Lesson – What’s in Your Compensation Package?
Differentiate between required employer contributions and additional benefits that an employer might offer	Lesson – The Ultimate Employee Guide
Analyze the monetary and non-monetary value of employee benefits in addition to wages and salaries.	Lesson – The Ultimate Employee Guide
Calculate the future income needed to maintain a current standard of living.	Activity – Crack the Code to Becoming a Millionaire Activity – Watch How Your Savings Could Grow Activity – Use the Net Worth Calculator
Identify typical sources of income in retirement.	Lesson – Preparing For Retirement
Revise IRS form W-4 (Employee’s Withholding Allowance Certificate) to determine the optimal amount to withhold for personal income tax.	Lesson – Income Tax Filing Tips & Tricks
Analyze circumstances that would call for the adjustment of the income tax withholding allowance.	Lesson – Uncovering Hidden Income Taxes You Owe Lesson – Tax Credits & Deductions You Need to Know
Examine the benefits of participating in employer-sponsored retirement savings plans and health care savings plans.	Lesson – Preparing For Retirement Lesson – What’s in Your Compensation Package?
Investing	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Compare strategies for investing as part of a comprehensive financial plan.	Investing101 Certification Lesson – How to Develop an Investing Strategy Lesson – What is Diversification & How to Spread Your Risk Lesson – Break Free From Money Stress with a Budget Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Describe the importance of various sources of income in retirement, including Social Security, employer-sponsored retirement savings plans, and personal investments.	Lesson – Preparing For Retirement Lesson – What’s in Your Compensation Package?
Differentiate between diversification and asset allocation.	Lesson – Buidling a Diversified Portfolio
Compare fees for buying, owning, and selling stocks, bonds, and mutual funds.	Stock Game – Core Component
Investigate reasons to use retirement savings plans and health savings accounts.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – The Secret to a Comfortable Retirement
Compare the advantages of taxable, tax deferred, and tax-advantaged investments for new savers, including Roth IRAs (individual retirement accounts) and employer-sponsored savings plans.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – The Secret to a Comfortable Retirement
Give examples of how economic conditions and business factors affect the market value of a stock.	Stock Game – Core Component Investing101 Certification Lesson – Decoding What Moves The Market Lesson – The Business Cycle
Use various sources of information, including prospectuses, online resources, and financial publications to gather data about specific investments.	Stock Game – Core Component Investing101 Certification Lesson – Investing Research
Devise evaluation strategies, including risk tolerance, for selecting investments that meet the objectives of a personal financial plan.	Investing101 Certification Lesson – How to Develop an Investing Strategy Lesson – Buidling a Diversified Portfolio Lesson – Knowing Your Risks & Risk Tolerance Activity – Model Your Financial Future
Analyze the advantages and disadvantages of buying and selling investments through various channels including employer-sponsored retirement plans, investment advisors, brokerage firms, and direct purchase	Stock Game – Core Component Lesson – Finding the Right Brokerage Account Lesson – How to Choose Stocks Strategically Lesson – How to Develop an Investing Strategy Lesson – Building a diversified portfolio Lesson – What’s in Your Compensation Package?
Identify warning signs of investment fraud.	Investing101 Certification Lesson – How to Avoid Identity Theft, Scams & Fraud
Identify steps and resources a consumer can take to prevent investment fraud.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Identify the roles of the Securities and Exchange Commission, Washington Department of Financial Institutions, and Consumer Financial Protection Bureau in addressing investment fraud.	Lesson – How Auditors Uncover Deception & Fraud
Risk Management & Insurance	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Research insurance for the types of risks that young adults might face after graduation.	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – Car Insurance: How to Lower Your Rates Lesson – Why Health Insurance is So Expensive
Investigate consequences of insurance fraud.	Lesson – Life insurance
Calculate payment expected on an auto insurance claim after applying exclusions and deductibles.	Lesson – Car Insurance: How to Lower Your Rates
Identify the factors that influence the cost of homeowners’ insurance.	Lesson – What Damage Does Home Insurance Cover? Lesson – Rules for Renters & Homeowners
Analyze the factors that influence the cost of renters’ insurance.	Lesson – What’s Not Covered in Renter’s Insurance?
Analyze the conditions under which it is appropriate for young adults to have health, disability, or life insurance.	Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net
Investigate health, dental, and vision insurance coverage options	Lesson – Why Health Insurance is So Expensive
Identify government programs that provide financial assistance for income loss due to illness, disability, or premature death.	Lesson – Life Insurance: The Ultimate Safety Net Lesson – The Anatomy of Unemployment and other programs
Compare sources of health and disability insurance coverage, including employee benefit plans.	Lesson – What’s in Your Compensation Package? Lesson – The Ultimate Employee Guide Lesson – Why Health Insurance is So Expensive
Explain the purpose of long-term care insurance.	Lesson – Why Health Insurance is So Expensive
Financial Decision-Making	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Consider how personal financial decisions might affect society.	Lesson – What Is Bankruptcy? Lesson – Work or Study Lesson – The Cost of Raising a Family Lesson – A Guide to Effective Charitable Donations Lesson – The Business Cycle
Revise your definition of wealth based on personal values, priorities, and goals.	Lesson – What is Wealth? Lesson – A Strategy to Build Wealth, Not Debt Lesson – Planning Your Career Path Activity – Use the Net Worth Calculator
Explain why an individual or household may want to consult with an attorney, financial planner, or tax advisor for financial advice or representation.	Lesson – When to hire a tax professional
Research where to find credible sources of up-to-date information about consumer rights and responsibilities.	Lesson – Protect Yourself as a Consumer
Investigate sources of assistance in resolving consumer disputes.	Lesson – Protect Yourself as a Consumer
Predict how inflation will affect the outcomes of financial decisions, as well as the price of goods and services.	Lesson – Inflation Lesson – The Business Cycle
Analyze how sales and property taxes affect financial decisions, such as buying a car or a house.	Lesson – Mortgage Options for First-Time Homebuyers Lesson – Sales Tax: Who Pays, Collects, and Why? Lesson – Tax Basics You Need to Know
Develop a backup plan for a specific financial goal when circumstances change (e.g., job loss, illness, major gift, or inheritance).	Lesson – How to Prepare for Unexpected Expenses Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Achieve Financial Goals with a Spending Plan
Analyze expenses and risks of alternative financing options (e.g., payday loans and credit card cash advances).	Lesson – Short Term Financing
Develop a contingency plan to handle events (e.g., car breakdown or a phone loss) that might affect personal finances on short notice.	Lesson – How to Prepare for Unexpected Expenses Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Achieve Financial Goals with a Spending Plan
Assess the importance of sharing financial goals and personal financial information with a partner before combining households.	Lesson – The Cost of Raising a Family
Demonstrate how to negotiate the sales price of a major purchase, such as a car or a motorcycle.	Lesson – Mortgage Options for First-Time Homebuyers Lesson – The Car Buying Checklist Activity – Rent or Buy: Which is Right for You? Activity – Find Out Your Monthly Home Budget
Summarize the factors that make a contract legal and binding.	Lesson – What makes a contract valid?
Compare the terms of a credit card or other loan agreement.	Lesson – Credit Cards: Terms, Fees, and More Lesson – What to Do When You Need Money Fast Lesson – How Borrowers Manage Personal Debt
Summarize the terms of a homeowners’or renters’ insurance policy.	Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Rules for Renters & Homeowners
Summarize the terms of a health insurance plan.	Lesson – Why Health Insurance is So Expensive
Summarize local and state tenant and landlord rights and responsibilities that are covered in the terms of a standard rental lease agreement.	Lesson – What makes a contract valid? Lesson – Rental Insurance
Research the use of small claims court for the redress of a consumer dispute.	Lesson – Protect Yourself as a Consumer
Outline steps to resolve identity theft problems as recommended by the Federal Trade Commission and relevant financial institutions.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Apply identity theft prevention strategies.	Lesson – How to Avoid Identity Theft, Scams & Fraud
List entities that have a right to request certain personal financial data.	Lesson – What Your Credit Report Says About You Lesson – Credit Cards: Terms, Fees, and More Lesson – Choosing the Best Banking Option for You
Investigate consumer safeguards for mobile and online banking.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Develop a personal financial plan or budget, including goals, spending and saving plan, investing plan, insurance plan, a net worth statement, and an estate plan.	Lesson – Achieve Financial Goals with a Spending Plan Lesson – Proven Techniques to Stop Overspending Lesson – What is Diversification & How to Spread Your Risk Lesson – The Secret to a Comfortable Retirement Lesson – The Cost of Raising a Family Lesson – Evaluating Big-Ticket Purchases
Devise a strategy to monitor the personal financial plan or budget and make modifications as needed for changing circumstances.	Lesson – Preparing for spending shocks Lesson – Break Free From Money Stress with a Budget Lesson – Proven Techniques to Stop Overspending
List the main components of a simple will.	Lesson – Who Gets Your Stuff When You’re Gone?
Identify how money and property will be distributed in one’s state of residence when a person dies without a valid will.	Lesson – Who Gets Your Stuff When You’re Gone?
Explain the purpose of a durable power of attorney for health care (living will).	Lesson – Life Insurance: The Ultimate Safety Net Lesson – Who Gets Your Stuff When You’re Gone?