Minnesota
10th-12th Grades
State Standards
Minnesota Personal Finance Course Content Recommendations
Focus Area OneFinancial Psychology
Students are able to identify how unconscious beliefs influence financial decision making.
Students are able to make critical choices about sources of financial information to use based on perspective, biases, credibility, and relevance.
Students are able to evaluate how various sources of information affect financial decisions.
Students are able to analyze how advertising and promotions influence spending.
Students are able to evaluate how behavioral bias affects decision making, and strategies individuals use to navigate the emotions impacting financial decisions.
Students are able to analyze how social media is used to influence behavior.
Students are able to use a systematic process for making financial decisions.
Students are able to set financial goals.
Focus Area TwoIncome and Earning
Students are able to make informed decisions concerning their post-high school plans.
Students are able to evaluate multiple employment offers, including both tangible and intangible benefits based on personal goals and values.
Students are able to explain the components of a paystub.
Students are able to identify alternative types of income.
Focus Area ThreeFinancial Systems
Students are able to identify and describe various types of financial institutions.
Students can compare and contrast financial products and services.
Students can critically evaluate the offerings of alternative financial services.
Students are able to identify and explain types of taxes, and explain the reasons for taxation at the local, state, and federal levels, and the impact of taxation on financial decision making.
Students can identify various financial professionals and their services.
Focus Area FourCredit and Debt Management
Students are able to analyze the costs and benefits of various types of credit.
Students are able to evaluate the various sources and types of consumer debt.
Students are able to summarize how one's credit history can affect finances, including loan eligibility and terms.
Students are able to summarize the reasons for filing for personal bankruptcy and evaluate the implications for self and others.
Focus Area FiveRisk Management
Students are able to describe how insurance and other risk-management strategies protect against financial loss.
Students are able to compare and contrast how insurance needs vary among individuals, families, and seasons of life.
Students are able to analyze methods to prevent and limit the consequences of identity theft and fraud.
Students are able to analyze how local, state and federal laws and regulations affect consumers.
Students are able to evaluate how and why individuals choose to accept risk, reduce risk, or transfer risk to others.
Focus Area SixBudgeting and Investing
Students are able to identify short and long-term financial goals and develop a spending plan and/or budget.
Students are able to analyze how changes in taxation, inflation, and other external circumstances can affect personal budget.
Students are able to apply formal decision-making models to make financial decisions.
Students are able to determine practices that allow individuals and families to strive for financial security.
Students are able to compare the features of various savings vehicles and interest rates offered by financial institutions.
Students are able to identify types of investments appropriate for different objectives, such as liquidity, income, growth, and risk.
Recurring OutcomesOutcomes that span every focus area
Students are able to evaluate the relationship of familial patterns, cultural traditions and historical influences on financial practice.
Students are able to evaluate the influence of technology on financial information, financial systems, decision making, and financial policy and regulation.