Colorado
9th-12th Grades
State Standards
Personal Financial Literacy
8Apply economic reasoning skills to make informed personal financial decisions.
FL.HS.5.1Apply reliable information to make systematic personal financial decisions based on individual and community values and goals.
Students Can
aRecognize the alternatives, consequences, and responsibilities associated with personal financial decisions.
bUse reliable information resources when making financial decisions.
cFormulate strategies to protect personal and financial information.
dDevelop a system for keeping and using financial records.
eCompare financial institutions and products.
Colorado Essential Skills
1Make predictions and design data/information collection and analysis strategies (Critical Thinking and Analysis).
2Set personal goals and take responsibility for those goals through reflection upon prior outcomes (Self-Awareness).
Inquiry Questions
1How does a consumer determine the accuracy and relevance of consumer information?
2How can a consumer locate and identify reliable sources of financial information?
3What are some steps that can be taken to protect personal and financial information?
4What are some things that should be considered when entering into a contract for financial services?
5What are different methods of financial record keeping?
6How can an individual create a financial plan aligned with their personal values and goals?
Nature and Skills of Personal Financial Literacy
1Financially capable individuals consider the value of professional development, income earning potential, value of workplace benefits, and labor market trends as part of a lifetime comprehensive financial plan.
2Financially capable individuals demonstrate effective financial decision-making by comparing costs and benefits of alternatives.
3Financially capable individuals demonstrate self-awareness and areas for ongoing financial education, growth, and development.
Disciplinary, Information, and Media Literacy
1Gather relevant information from multiple print and digital sources, assess the credibility and accuracy of the sources.
2Analyze how incentives influence choices that may result in policies with a range of costs and benefits for different groups.
FL.HS.5.2Analyze sources of income and the relationship between career preparation, continuing education, and its impact on lifetime earning potential.
Students Can
aCompare different sources of personal income and compensation. Including but not limited to: earned income, profit income, interest income, dividend income, rental income, capital gains, and royalties.
bAnalyze the impact of economic conditions and cost of living factors on income and purchasing power.
cPredict the potential impact of education and skill development choices on career earnings, including starting salary by field and level of degree or credential.
dInvestigate the total cost, affordability, and payment options associated with postsecondary options, degrees, and credentials, including personal savings, scholarships, grants, employer tuition programs, work study, and public and private loans.
eReview the purpose and the process of accessing state and federal financial aid. Including but not limited to: the Colorado Application for State Financial Aid (CASFA), the Free Application for Federal Student Aid (FAFSA) application for financial aid.
fAnalyze student loan repayment options, terms, requirements, and state and federal repayment programs and their impact on a student's financial future.
gAnalyze the monetary and non-monetary value of employee benefits in addition to pay. For example: Benefits, flexible work options, and retirement plans.
hSimulate a sustainable household budget based on future personal and career goals.
Colorado Essential Skills
1Make predictions and design data/information collection and analysis strategies (Critical Thinking and Analysis).
2Set personal goals and take responsibility for those goals through reflection upon prior outcomes (Self-Management).
3Demonstrate knowledge, understanding, and personal awareness of how their dreams and interests translate into career fulfillment and career pathways available in local, regional, national, and global arenas (Self-Awareness).
Inquiry Questions
1How can income earning potential be maximized with intentional choices and planning?
2What is the role of education and earning capability in building financial security?
3What potential barriers might impede an individual's work routine, hinder the ability to get a job, or prevent career advancement, and how can an individual overcome the barriers?
4What resources are available to individuals seeking help with career, employment, and training?
5How might life circumstances impact a household budget?
6Should student loans be listed under Financial Aid on a Student Aid Report?
Nature and Skills of Personal Financial Literacy
1Financially capable individuals consider the value of professional development, income earning potential, value of workplace benefits, and labor market trends as part of a lifetime comprehensive financial plan.
2Financially capable individuals plan for income tax liability.
3Financially capable individuals consider opportunity costs when making decisions about professional development and career changes.
4Financially capable individuals analyze economic cycles and make predictions regarding economic trends.
5Financially capable individuals calculate the sustainable household income given specific market conditions and lifestyle circumstances which provides consumers with income earning goals when deciding employment, career path, and professional development.
Disciplinary, Information, and Media Literacy
1Analyze how incentives influence choices that may result in policies with a range of costs and benefits for different groups.
2Describe the consequences of competition in specific markets.
3Explain how current globalization trends and policies affect economic growth, labor markets, rights of citizens, the environment, and resource and income distribution in different nations.
FL.HS.5.3Apply consumer skills to budgeting, spending, saving, and borrowing decisions.
Students Can
aAnalyze how inflation and cost of living impact consumer purchasing and saving power.
bSummarize factors to consider when selecting borrowing options, including costs, relevance, payoffs, and tradeoffs. For example: Comparing student, auto, home, and payday loans.
cExplain how an individual's credit history can affect borrowing power.
dDesign a household budget (using gross and net income) that addresses financial obligations and integrates saving for future goals and retirement based on your values and goals.
eDescribe how to use and manage different types of accounts and payment methods.
fCompare the advantages and disadvantages of various types of credit.
gSummarize the advantages and disadvantages of leasing versus purchasing automobiles, homes, and other large purchases.
Colorado Essential Skills
1Make predictions and design data/information collection and analysis strategies (Critical Thinking and Analysis).
2Take responsibility for spending decisions and borrowing decisions (Self-Advocacy and Initiative).
3Set personal goals and take responsibility for those goals through reflection upon prior outcomes (Self-Management).
Inquiry Questions
1How might changes in the economic cycle and market conditions affect household saving and spending habits?
2How might changes in lifestyle, income, or life circumstances affect a household financial plan?
3How can implementing an intentional savings plan provide stability and secure an individual's financial future?
4What are some strategies individuals can implement to increase their savings?
5How can individuals take steps to begin building credit?
6How can individuals increase their credit score without taking on debt?
7What are the advantages of secured vs. unsecured credit accounts?
8When might it make sense to take on debt? When does it not make sense?
9How much will today's purchase cost tomorrow?
10What resources are available to individuals seeking help with financial hardships?
11How does taking on debt impact finances?
12What types of decisions can be made in order to avoid debt?
13What strategies can consumers use to pay down debt as quickly as possible?
14What impacts do different types of interest rates have on consumers? For example: Fixed rates, variable rates, and adjustable-rate mortgages.
15Which types of loans typically charge higher interest rates?
16What types of consumers are most likely to be targeted by predatory lenders?
Nature and Skills of Personal Financial Literacy
1Financially capable individuals demonstrate effective decision-making based on their values and preferences and by comparing costs and benefits of alternatives.
2Financially capable individuals plan and monitor spending and saving to fulfill financial obligations and achieve goals as part of a comprehensive financial plan.
3Financially capable individuals know their rights and obligations when using credit.
4Financially capable individuals understand that there is an economic role for government in a market economy whenever the benefits of a government policy outweigh its costs.
Disciplinary, Information, and Media Literacy
1Gather relevant information from multiple print and digital sources and assess the credibility and accuracy of the sources.
2Read and comprehend complex informational texts. For example: Financial aid and credit card offers.
3Analyze how consumer choices have different costs and benefits.
4Analyze and compare types of interest, including rates, terms, and long-term impacts.
5Read and comprehend a consumer credit report.
FL.HS.5.4Explore a diversified investment strategy that is compatible with personal financial goals.
Students Can
aSelect financial investments that align with financial goals, risk tolerance, and personal and retirement options for different life stages.
bAnalyze how financial markets react to changes in market conditions, monetary policy, fiscal policy, and information. For example: The business cycle.
Colorado Essential Skills
1Make predictions and design data/information collection and analysis strategies (Critical Thinking and Analysis).
2Set personal goals and take responsibility for those goals through reflection upon prior outcomes (Self-Management).
Inquiry Questions
1How does a consumer choose between investment options?
2How might changes in the economic cycle and market conditions affect future earnings on an individual's investments?
3How can a consumer obtain accurate information about different assets and investments?
4How can a consumer determine the value of an asset or investment?
5How does a consumer research and validate the accuracy of financial information?
6How does investing fit into an individual's comprehensive financial plan?
7How do different types and values of investments impact taxes?
Nature and Skills of Personal Financial Literacy
1Financially capable individuals consider the value that investing plays as part of a lifetime comprehensive financial plan.
2Financially capable individuals carefully consider the amount of financial risk that they can tolerate based on life stage, and they plan for changes in the economic cycles.
3Financially capable individuals create plans based on sound financial planning principles to maximize their standard of living over time.
4Financially capable individuals analyze market conditions and make predictions regarding economic trends.
5Financially capable individuals know how to perform time value of money calculations allowing investigation of rate of return, future value of investments, and present value of long-term financial goals.
6Financially capable individuals understand the relationship between variables in a function which allows people to use functions to model relationships in the real world such as the impact of compound interest.
7Financially capable individuals can describe how to buy and sell various assets and investments. For example: Stocks, real estate, and businesses.
Disciplinary, Information, and Media Literacy
1Gather relevant information from multiple print and digital sources, assess the credibility and accuracy of the sources.
2Read and comprehend complex informational texts. For example: A stock chart or an account disclaimer.
3Analyze how risk and reward incentives influence choices that may result in costs and benefits for different groups.
FL.HS.5.5Choose risk management strategies for protection from the financial risk of lost income, lost or damaged property, health issues, or identity fraud.
Students Can
aEvaluate strategies for consumers to avoid financial risk, reduce risk, accept risk, or transfer risk to others through insurance.
bIdentify the cost and benefits of purchasing insurance. For example: Insured profile, number and size of claims, frequency, and costs of natural disasters.
cExplain the types and purpose of insurance products. For example: Automotive, identity theft, health, disability, long-term care, life insurance, renters/homeowners' insurance, and professional liability.
dOutline steps to monitor and safeguard personal financial data to minimize, avoid and/or resolve identity theft or fraud issues.
eAnalyze consumer and financial information for relevance, credibility, and accuracy.
fIdentify consumer responsibilities, rights, and consumer protection laws that regulate contracts and financial transactions.
Colorado Essential Skills
1Interpret information and draw conclusions based on the best analysis (Critical Thinking and Analysis).
2Develop, plan, and organize self-behavior (Self-Management).
Inquiry Questions
1How are individuals, groups of consumers, and markets impacted by unexpected financial obligations due to property loss or damage, loss of income, health care issues, and fraud?
2What should a consumer consider when choosing insurance for particular situations?
3How will insurance needs change throughout a lifetime?
4How does probability relate to obtaining insurance and the cost of insurance?
5How does insurance fit into an individual's comprehensive financial plan?
6What consumer scams are common?
7How can consumers be aware of and protect themselves from scams?
8What are the different types of insurance and how do they work?
9What is the difference between an insurance premium and deductible?
10How can an individual determine that they are adequately insured?
11How can an individual evaluate how much they are willing to pay for different levels of insurance coverage based on their risk assessment?
Nature and Skills of Personal Financial Literacy
1Financially capable individuals mitigate the financial risks associated with everyday life through planning for the unexpected, saving for emergencies, acquiring insurance, and securing personal information.
2Financially capable individuals consider insurance as a part of a lifetime comprehensive financial plan.
3Financially capable individuals demonstrate effective financial decision-making by comparing the additional costs of alternatives with the additional benefits.
4Financially capable individuals understand that probability allows informed decision-making, such as whether the cost of insurance is less than the expected cost of illness, when the deductible on car insurance is optimal, or whether an extended warranty justifies the cost.
Disciplinary, Information, and Media Literacy
1Read and comprehend complex informational texts. For example: Insurance policies.
2Analyze how incentives influence choices that may result in policies with a range of costs and benefits for different groups.
3Compare and contrast financial information when making a decision.
4Research current identity theft and financial scams.