Investigate, evaluate, and share information about various methods for acquiring goods and making major purchases.
Examples: borrowing, renting, leasing, paying cash
Compare costs of goods and services to determine best value, including sales tax, tips, coupons, discounts, product quality, and unit pricing.
Explain how to use different payment methods, including cash, debit card, credit card, electronic payments via mobile devices or online, checks, payroll cards, layaway plans, and automatic bank deductions.
Banking and Financial Institutions
Describe the functions, advantages, and disadvantages of various types of financial institutions.
Examples: central banks, retail and commercial banks, Internet banks, credit unions, savings and loan associations, investment banks and companies, brokerage firms, insurance companies
Evaluate services and related costs associated with personal banking at various financial institutions.
Examples: checking and savings accounts, personal checks, cashier’s checks, overdraft fees, online banking
Manage checking and savings accounts, balance bank statements, and use online financial services.
Credit and Debt
Explain advantages and disadvantages of using credit.
Assess ways that credit card terms affect the cost of using credit and the impact of those costs on personal finances.
Examples: annual percentage rate (APR), grace period, fees, methods of calculating interest
Explain why credit ratings and credit reports are important to consumers.
List ways of building and maintaining a good credit score.
Examples: credit card utilization, closing credit accounts, quantity of credit cards
Determine the implications of entering into contracts and binding agreements.
Examples: cell phone contracts, rent-to-own agreements, subscription services, automatic enrollments
Compare different types of loans and their advantages and disadvantages, including college loans, payday loans, personal and/or signature loans, vehicle loans, collateral loans, passbook loans, and home mortgages.
Describe legal and illegal types of credit that carry high interest rates, including payday loans, rent-to-buy agreements, and loan-sharking.
Gather and share information about requirements and eligibility for filing bankruptcy, including means tests and credit counseling.
Assess the effects of bankruptcy filings on the consumer, including Chapter 7, Chapter 11, and Chapter 13.
Saving and Investing
Gather, evaluate, and share information about saving for short-term goals.
Examples: holiday savings accounts, “rainy day†or emergency funds, passbook savings accounts
Gather, evaluate, and share information about investing for income, retirement, and other long-term goals, indicating advantages and disadvantages of various forms of investment.
Examples: mutual funds, exchange-traded funds (ETFs), stocks, bonds, certificates of deposit (CDs), real estate, commodities; compound interest, Rule of 72
Risk Management and Insurance
Determine the types of insurance available to deal with different risks, including automobile, personal and professional liability, homeowner’s, renter’s, property, health, life, long-term care, and disability.
Identify factors that affect the cost of insurance.
Identify perils that are insurable.
Examples: injury, loss, destruction
Summarize safety and health standards in the workplace for daily procedures, emergency procedures, equipment and tools, dress, use of technology, and work area maintenance.
Develop a plan for financial and personal security in the event of disaster, including secure storage of financial records and personal documents, available cash reserve, household inventory, medical records retention, wills, and living wills.
STEM Technologies I
Foundational Standards
Incorporate safety procedures in handling, operating, and maintaining tools and machinery; handling materials; utilizing personal protective equipment; maintaining a safe work area; and following protocols for fire and electrical safety.
Demonstrate effective workplace and employability skills, including communication, awareness of diversity, positive work ethic, problem-solving, time management, and teamwork.
Explore the range of careers available in the field and investigate their educational requirements, and demonstrate job-seeking skills including resume-writing and interviewing.
Demonstrate digital literacy by using digital and electronic tools appropriately, safely, and ethically.
Participate in a Career and Technical Student Organization (CTSO) to increase knowledge and skills and to enhance leadership and teamwork.
Scope of Technology
Describe the development of technology as a human activity that is the result of creatively meeting individual or collective needs.
