Wisconsin Financial Literacy Standards: Helpful Teacher Resource

Wisconsin’s Model Academic Standards for Personal Financial Literacy

Find out which of our lessons or games reinforce the individual
knowledge statements from the Wisconsin’s Personal Financial Literacy 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
RELATING INCOME AND EDUCATION
Relate how career choices, education choices, skills, entrepreneurship, and economic conditions affect income.	Lesson – Planning Your Career Path Lesson – Work or Study Lesson – Starting a Business 101 101 Lesson – The Business Cycle Lesson – The Importance of Interest Rates
Describe the unique characteristics of both a job and a career.	Lesson – Planning Your Career Path
Identify and understand factors affecting income.	Lesson – What’s in Your Compensation Package?
Understand how employee benefits relate to income.	Lesson – What’s in Your Compensation Package? Lesson – The Ultimate Employee Guide
Examine how income affects choices and spending decisions.	Budget Game – Core Component Lesson – Achieve Financial Goals with a Spending Plan
Investigate how individual skills and abilities can be applied to a career choice.	Lesson – Planning Your Career Path
Discuss concepts associated with taxes and income.	Budget Game – Core Component Lesson – Tax Basics You Need to Know Lesson – Income Tax Filing Tips & Tricks
Identify the origin and purposes of the payroll deduction process.	Lesson – Payroll Best Practices
Identify taxable income and employee benefits.	Lesson – What’s in Your Compensation Package? Lesson – The Ultimate Employee Guide
Research government policies and programs that are available to employees.	Lesson – The Anatomy of Unemployment and other programs
MONEY MANAGEMENT	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Formulate and compare money management choices that enable individuals to progress toward stated financial goals.	Budget Game – Core Component
Prepare a budget for various applications(personal, family, business).	Lesson – Break Free From Money Stress with a Budget Lesson – Proven Techniques to Stop Overspending Lesson – Cash Planning Lesson – Short Term and Long Term Financing
Analyze and select appropriate financial institutions to assist with meeting various personal financial needs and goals.	Lesson – Break Free From Money Stress with a Budget Lesson – Choosing the Best Banking Option for You Lesson – A Strategy to Build Wealth, Not Debt Lesson – The Secret to a Comfortable Retirement
Describe various financial products or services (ATM, debit cards, credit cards, checkbooks, etc.) and the most appropriate use of each.	Lesson – What is Money? Lesson – How Debit Cards Work Lesson – Credit Cards: Terms, Fees, and More Lesson – What to Do When You Need Money Fast
Develop a plan to secure funding for a future event.	Lesson – Planning for Long-Term Purchases
Analyze and discuss the long-range impact of setting personal financial goals.	Lesson – Planning for Long-Term Purchases Lesson – The Secret to a Comfortable Retirement Lesson – The Cost of Raising a Family Lesson – Planning Your Career Path
Compare and contrast the influence of culture, traditions, location, and experience on personal financial goals.	Lesson – Break Free From Money Stress with a Budget Lesson – Analyzing Consumer Behavior Lesson – How Businesses Find Their Ideal Customers
Explain the history of existing forms of taxation at the federal, state, and local levels.	Lesson – Tax Basics You Need to Know
Identify reasons to comply with personal tax obligations and the consequences of not doing so.	Lesson – What Is a Tax Audit? Lesson – When to hire a tax professional Lesson – Income Tax Filing Tips & Tricks
Describe the advantages and disadvantages of various sources of assistance with tax planning and filing.	Lesson – What Is a Tax Audit? Lesson – When to hire a tax professional Lesson – Income Tax Filing Tips & Tricks
CREDIT AND DEBT MANAGEMENT	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Compare the benefits and costs of spending decisions.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – Achieve Financial Goals with a Spending Plan
Analyze information about products and services.	Lesson – How Do You Stop Impulse Purchases?
Contrast a rapid access loan and a bank loan.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage
Distinguish the financial benefits and services of different types of lending institutions.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage Lesson – Proven Techniques to Stop Overspending
Explain strategies of debt and credit management.	Lesson – How Borrowers Manage Personal Debt Lesson – How to Use Debt to Your Advantage
Explain credit terminology.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More
Analyze sources of consumer credit.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage
Explain options for payment on credit cards.	Lesson – Credit Cards: Terms, Fees, and More Lesson – Automatic Payments: Convenience vs. Risk
Differentiate between a credit card, charge card, and debit card.	Budget Game – Core Component Lesson – How Debit Cards Work Lesson – Credit Cards: Terms, Fees, and More
Demonstrate balance sheet concepts: debit and credit.	Lesson – Balance Your Books in 10-Minutes Lesson – How to Read a Balance Sheet Lesson – Tame Your Financial Paperwork
Compare advantages and disadvantages of various debt payment methods.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage
Define terminology associated with mortgages.	Lesson – Mortgage Options for First-Time Homebuyers Activity – Rent or Buy: Which is Right for You?
Explain the factors affecting a “credit score.”	Lesson – What Your Credit Report Says About You
Identify factors that affect creditworthiness and the purposes of credit records.	Lesson – What Your Credit Report Says About You
Identify ways to avoid or correct credit problems.	Lesson – What Your Credit Report Says About You
Compare and compute application of interest, compound interest, and amortization.	Lesson – The Importance of Interest Rates Activity – Watch How Your Savings Could Grow
Compute the amount of interest paid over time when using credit.	Activity – Use the Credit Card Payments Calculator
Calculate the cost of borrowing for various amounts and types of purchases.	Activity – Rent or Buy: Which is Right for You? Activity – Find Out Your Monthly Home Budget Activity – Calculate Your Car Loan Payments
Explain the rights and responsibilities of buyers and sellers under consumer protection laws.	Lesson – Protect Yourself as a Consumer
Distinguish between the rights and responsibilities of buyers and sellers under consumer protection laws.	Lesson – Protect Yourself as a Consumer
List the purposes of debt.	Lesson – A Beginner’s Guide to Borrowing Wisely Lesson – Credit Cards: Terms, Fees, and More Lesson – How to Use Debt to Your Advantage
Examine ways to leverage debt beneficially.	Lesson – How to Use Debt to Your Advantage Lesson – The Car Buying Checklist Lesson – Mortgage Options for First-Time Homebuyers
Identify different types of bankruptcy.	Lesson – What Is Bankruptcy?
Examine ways to avoid bankruptcy.	Lesson – How Borrowers Manage Personal Debt Lesson – Getting Help With Debt Repayment Lesson – Debt Relief: Is Consolidation the Answer? Lesson – How to Negotiate With Creditors
Outline the implication(s) of bankruptcy.	Lesson – What Is Bankruptcy?
Illustrate products and practices such as instant tax refunds and payday lending.	Lesson – What to Do When You Need Money Fast Lesson – How to Use Debt to Your Advantage Lesson – Tax Basics You Need to Know
Describe predatory lending practices.	Lesson – What to Do When You Need Money Fast
PLANNING, SAVING, AND INVESTING	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Understand the concept of “time value” of money.	Lesson – Time Value of Money
Apply the principle of “pay me first” to realistic scenarios.	Budget Game – Core Component Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Define the difference between income and wealth.	Lesson – What is Money? Lesson – What is Wealth? Lesson – What’s in Your Compensation Package?
Apply the concept of “opportunity cost” to personal financial decisions.	Lesson – Opportunity Cost Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – What is Wealth?
Differentiate between various savings vehicles and their most effective utilization.	Lesson – Break Free From Money Stress with a Budget Lesson – The Secret to a Comfortable Retirement Lesson – What is Diversification & How to Spread Your Risk
Understand various investment options.	Stock Game – Core Component Investing101 Certification Lesson – What is Diversification & How to Spread Your Risk Lesson – A Beginner’s Guide to Investing in Stocks Lesson – Getting Started with Bond Investing Lesson – A Simple Explanation of ETFs Lesson – The Pros and Cons of Mutual Funds
Differentiate between income and investment growth.	Lesson – What’s in Your Compensation Package? Lesson – What is Wealth? Lesson – The Secret to a Comfortable Retirement Lesson – A Strategy to Build Wealth, Not Debt
Describe reasons for saving, reasons for investing, and entrepreneurship.	Lesson – Starting a Business 101 101 Lesson – Planning Long-Term Purchases Lesson – How to Prepare for Unexpected Expenses Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – The Secret to a Comfortable Retirement
Describe differences between banks, investment firms, and financial planners.	Lesson – Choosing the Best Banking Option for You Lesson – Getting Help With Debt Repayment Lesson – When to hire a tax professional
Calculate short- and long-term returns of stocks and bonds.	Stock Game – Core Component Investing101 Certification Activity – Model Your Financial Future Lesson – Why invest in Stocks? Lesson – Getting Started with Bond Investing
Explain the economic principle of supply and demand.	Lesson – Supply and Demand Examples in the Stock Market
Compare budget to realized financial activities.	Budget Game – Core Component
BECOMING A CRITICAL CONSUMER	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Examine individual differences in decisions made as a consumer.	Budget Game – Core Component
Compare and contrast advertising for opinion vs. fact.	Lesson – Foundations of Marketing Lesson – Planning and Evaluating Business Advertising Lesson – Ethics In Marketing
Compare, contrast, and compute interest rates and fees of various financial institutions.	Activity – Use the Credit Card Payments Calculator Lesson – The Importance of Interest Rates
Identify the components of completed written and verbal contracts.	Lesson – What makes a contract valid?
Explain why contracts are used.	Lesson – What makes a contract valid?
Analyze the elements and laws associated with fraud.	Lesson – How to Avoid Identity Theft, Scams & Fraud
Identify resources that can be used in making consumer decisions.	Lesson – How Do You Stop Impulse Purchases?
Explain the forms and functions of money.	Lesson – What is Money?
Compare the value of goods or services from different sellers.	Lesson – How Do You Stop Impulse Purchases?
Demonstrate aspects of being a responsible consumer.	Lesson – Protect Yourself as a Consumer
COMMUNITY AND FINANCIAL RESPONSIBILITY	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Classify individual, social, and cultural differences in understanding and use of money and other financial resources.	Lesson – Comparative Economic Systems – Capitalism, Socialism, and Communism Lesson – How Global Trade Shapes Our Economy Lesson – Analyzing Consumer Behavior Lesson – How Businesses Find Their Ideal Customers
Analyze attitudes, assumptions, and patterns of behavior regarding money, saving, investing, and work.	Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth
Differentiate legal and ethical bases for making personal and societal financial decisions.	Lesson – Making Ethical Business Decisions Lesson – Ethics In Marketing Lesson – Government impact on the economy Lesson – What Are Property Rights? Lesson – How to Avoid Identity Theft, Scams & Fraud
Contrast cost-benefit and opportunity-cost.	Lesson – Opportunity Cost Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – What is Wealth?
Compare informed and responsible actions in addressing significant personal financial literacy questions/issues.	Budget Game – Core Component
Demonstrate the concept and forms of taxation and its role in public activities/initiatives.	Lesson – Tax Basics You Need to Know
Illustrate how the economic system of production and consumption may be a means to achieve other significant societal goals.	Lesson – Why Do Some Jobs Pay More Than Others?
Examine the implications of legal and ethical behavior when making personal financial decisions.	Lesson – Protect Yourself as a Consumer Lesson – How to Avoid Identity Theft, Scams & Fraud Lesson – Knowing Your Risks & Risk Tolerance
Speculate about the impact of global economic events on personal financial planning.	Lesson – The Business Cycle Lesson – Could the 1929 Crash Happen Again? Lesson – Inflation
Demonstrate the consequences of consumer citizen decisions and actions on the economy, broader society, and the environment.	Lesson – Analyzing Consumer Behavior Lesson – The Business Cycle Lesson – Could the 1929 Crash Happen Again? Lesson – What is Economics?
Compare and contrast the importance and impact of business, government, and consumer fiscal responsibility.	Lesson – What Does Fiscal Policy Mean?
Connect the role of philanthropy, volunteer service, and charities to community development and quality of life.	Lesson – Chartible Giving
RISK MANAGEMENT	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Predict the impact of loss associated with different types of financial risk.	Lesson – Knowing Your Risks & Risk Tolerance Lesson – Opportunity Cost Lesson – How to Develop an Investing Strategy Investing101 Certification
Explain how to reduce financial risk to self, family, and community.	Lesson – What is Diversification & How to Spread Your Risk Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net
Identify ways to manage the possibility of financial loss.	Lesson – How to Prepare for Unexpected Expenses
Describe the need for and value of different types of insurance.	Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Car Insurance: How to Lower Your Rates
Identify factors to consider when determining the amount of protection needed.	Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Car Insurance: How to Lower Your Rates
Identify strategies to lower insurance costs.	Lesson – Why Health Insurance is So Expensive Lesson – Life Insurance: The Ultimate Safety Net Lesson – What’s Not Covered in Renter’s Insurance? Lesson – What Damage Does Home Insurance Cover? Lesson – Car Insurance: How to Lower Your Rates
Apply opportunity-cost analysis to selected financial situations.	Lesson – Opportunity Cost Lesson – Pay Yourself First: A Simple Yet Powerful Way to Build Wealth Lesson – What is Wealth?
Explain why it is important to develop plans for protecting current and future personal assets against financial loss.	Lesson – What is Wealth? Lesson – A Strategy to Build Wealth, Not Debt Lesson – What Damage Does Home Insurance Cover? Lesson – Planning for Retirement