M/J Introduction to Personal Financial Literacy (#2104060) 

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Course Standards

Name Description
SS.7.E.1.2: Discuss the importance of borrowing and lending in the United States, the government's role in controlling financial institutions, and list the advantages and disadvantages of using credit.
SS.7.E.1.4: Discuss the function of financial institutions in the development of a market economy.
SS.7.E.1.6: Compare the national budget process to the personal budget process.
Prepare an individual budget which includes housing, food, leisure, communication, and miscellaneous categories and compare that to federal government budget allocations.
SS.7.E.2.1: Explain how federal, state, and local taxes support the economy as a function of the United States government.
SS.7.E.2.2: Describe the banking system in the United States and its impact on the money supply.
Examples are the Federal Reserve System and privately owned banks.
SS.8.E.1.1: Examine motivating economic factors that influenced the development of the United States economy over time including scarcity, supply and demand, opportunity costs, incentives, profits, and entrepreneurial aspects.
Examples areTriangular Trade, colonial development - New England, Middle, and Southern colonies - Revolutionary War, Manifest Destiny, compromises over slavery issues, the Civil War, Reconstruction.
SS.8.FL.1.1: Explain that careers are based on working at jobs in the same occupation or profession for many years. Describe the different types of education and training required by various careers.
Interview individuals and create a timeline that shows the education, training, and job experiences that occurred as the individuals progressed through different stages of their careers.
SS.8.FL.1.2: Identify the many decisions people must make over a lifetime about their education, jobs, and careers that affect their incomes and job opportunities.
Conduct research on a specific career. Describe the education, job, or career decisions individuals in this field might make over their lifetime and explain how this could affect their incomes and job opportunities.
SS.8.FL.1.3: Explain that getting more education and learning new job skills can increase a person’s human capital and productivity.
Explain how taking a babysitting class or getting lifeguard training can improve a young person’s human capital or productivity.
SS.8.FL.1.4: Examine the fact that people with less education and fewer job skills tend to earn lower incomes than people with more education and greater job skills.
Gather data on the average wage or salary for different jobs and explain how they differ by the level of education, job skill, or years of experience.
SS.8.FL.1.5: Examine the fact that investment in education and training generally has a positive rate of return in terms of the income that people earn over a lifetime, with some education or training having a higher rate of return than others.
Using data on the lifetime earnings of workers with different levels of education, explain why adults with a college education typically earn more than adults with only a high school education.
SS.8.FL.1.6: Identify the opportunity costs that education, training, and development of job skills have in the terms of time, effort, and money.
Describe the opportunity costs of attending a training course on babysitting, lifeguarding, or first aid.
SS.8.FL.1.7: Identify that interest, dividends, and capital appreciation (gains) are forms of income earned from financial investments.
Find the interest rate a bank pays on a savings account.
SS.8.FL.1.8: Discuss the fact that some people receive income support from government because they have low incomes or qualify in other ways for government assistance.
Look up government programs, including but not limited to, Medicaid or SNAP (Supplemental Nutrition Assistance Program) and explain the financial situation the programs are addressing.
SS.8.FL.2.1: Explain why when deciding what to buy, consumers may choose to gather information from a variety of sources. Describe how the quality and usefulness of information provided by sources can vary greatly from source to source. Explain that, while many sources provide valuable information, other sources provide information that is deliberately misleading.
Gather information for an electronic good from sources such as manufacturers’ websites, retail websites, and consumer review websites. Explain what information is most helpful in making their decision. Search the Internet and print materials and identify deceptive selling practices.
SS.8.FL.2.2: Analyze a source’s incentives in providing information about a good or service, and how a consumer can better assess the quality and usefulness of the information.
Explain why advice from a source such as a salesperson may or may not be useful when deciding which product to buy.
SS.8.FL.2.3: Describe the variety of payment methods people can use in order to buy goods and services.
Explain how they would use the following payment methods to purchase a good or service: cash, check, debit card, credit card, mobile phone, online payment, prepaid card, layaway, and rent to own.
SS.8.FL.2.4: Examine choosing a payment method, by weighing the costs and benefits of the different payment options.
Choose the best payment method for the following purchases by weighing the costs and benefits of various payment options: ticket to a concert, food at a convenience store, airline ticket, cell phone bill, beverage at a middle school basketball game, and car payment.
SS.8.FL.2.5: Discuss the fact that people may revise their budget based on unplanned expenses and changes in income.
Offer ways to balance a family’s budget given unplanned expenses such as health care costs, car repairs, or change in income.
SS.8.FL.3.1: Explain that banks and other financial institutions loan funds received from depositors to borrowers and that part of the interest received from these loans is used to pay interest to depositors for the use of their money.
Draw and label a diagram showing the role that financial institutions play in channeling funds from savers to borrowers. Conduct research into the interest rate paid on savings and charged for loans by financial institutions in their community and create a classroom bulletin board summarizing their findings.
SS.8.FL.3.2: Explain that, for the saver, an interest rate is the price a financial institution pays for using a saver’s money and is normally expressed as an annual percentage of the amount saved.
Define an interest rate as the price paid for using someone else’s money, expressed as a percentage of the amount saved.
SS.8.FL.3.3: Discuss that interest rates paid on savings and charged on loans, like all prices, are determined in a market.
Explain why banks that experience an increase in the number of people who want loans may decide to pay higher interest rates on deposits.
SS.8.FL.3.4: Explain that, when interest rates increase, people earn more on their savings and their savings grow more quickly.
Calculate the total amount of interest earned on two certificates of deposit—one with a higher rate of interest than the other—and explain how the certificate of deposit with the higher interest rate can help a saver reach his or her savings goal faster.
SS.8.FL.3.5: Identify principal as the initial amount of money upon which interest is paid.
Differentiate between principal and interest.
SS.8.FL.3.6: Identify the value of a person’s savings in the future as determined by the amount saved and the interest rate. Explain why the earlier people begin to save, the more savings they will be able to accumulate, all other things equal, as a result of the power of compound interest.
Use the Rule of 72 to determine the number of years it will take for their savings to double in value. Using a formula for compound interest, calculate how much two different savers, one who starts to save at age 21 and one who starts to save at age 35, will have at retirement.
SS.8.FL.3.7: Discuss the different reasons that people save money, including large purchases (such as higher education, autos, and homes), retirement, and unexpected events. Discuss how people’s tastes and preferences influence their choice of how much to save and for what to save.
Write a short story comparing the savings choices of a young college graduate to those of a married couple who recently celebrated their 40th birthdays and who have two children.
SS.8.FL.3.8: Explain that, to assure savers that their deposits are safe from bank failures, federal agencies guarantee depositors’ savings in most commercial banks, savings banks, and savings associations up to a set limit.
Identify the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) as the government agencies responsible for insuring depositors’ savings and state the limit of FDIC and NCUA coverage. Explain why the bank-run scene in the movie It’s a Wonderful Life, for example, is less likely to occur in today’s world of insured banks.
SS.8.FL.4.1: Explain that people who apply for loans are told what the interest rate on the loan will be. An interest rate is the price of using someone else’s money expressed as an annual percentage of the loan principal.
Explain that repayment of a loan includes repayment of the principal plus the interest charged. Compute the interest rate when given a principal and an amount of interest. Compute the amount of interest when given the loan principal and the interest rate.
SS.8.FL.4.2: Identify a credit card purchase as a loan from the financial institution that issued the card. Explain that credit card interest rates tend to be higher than rates for other loans. In addition, financial institutions may charge significant fees related to a credit card and its use.
Examine a credit card statement and identify the interest rate and fees charged.
SS.8.FL.4.3: Examine the fact that borrowers who use credit cards for purchases and who do not pay the full balance when it is due pay much higher costs for their purchases because interest is charged monthly. Explain how a credit card user can avoid interest charges by paying the entire balance within the grace period specified by the financial institution.
For an expensive good purchased using credit, find the total interest paid and the amount still owed after one year when only the minimum payment is made each month. Give advice to a friend explaining what happens to the total cost of borrowing on a credit card when only the minimum payment is made each month.
SS.8.FL.4.4: Explain that lenders charge different interest rates based on the risk of nonpayment by borrowers. Describe why the higher the risk of nonpayment, the higher the interest rate charged by financial institutions, and the lower the risk of nonpayment, the lower the interest rate charged.
As a banker, decide for each of three potential borrowers with different credit backgrounds whether to extend credit, and if so, what the interest rate should be. Write a decision letter to the borrower justifying the banker’s decision.
SS.8.FL.5.1: Describe the differences among the different types of financial assets, including a wide variety of financial instruments such as bank deposits, stocks, bonds, and mutual funds. Explain that real estate and commodities are also often viewed as financial assets.
Find the prices of a variety of current possible investments.
SS.8.FL.5.2: Calculate the amount of interest income received from depositing a certain amount of money in a bank account paying 1 percent per year and from owning a bond paying 5 percent per year in order to analyze that interest is received from money deposited in bank accounts as well as by owning a corporate or government bond or making a loan.
SS.8.FL.5.3: Discuss that when people buy corporate stock, they are purchasing ownership shares in a business that if the business is profitable, they will expect to receive income in the form of dividends and/or from the increase in the stock’s value, that the increase in the value of an asset (like a stock) is called a capital gain, and if the business is not profitable, investors could lose the money they have invested.
Determine the amount of dividends paid from a selected stock and how much the price of the stock has appreciated or depreciated over the year.
SS.8.FL.5.4: Explain that the price of a financial asset is determined by the interaction of buyers and sellers in a financial market.
Explain why the price of a stock might change if more individuals decide to purchase the stock. Explain why the price of a stock might change if more companies issue new shares of stock to raise new investment funds.
SS.8.FL.5.5: Explain that the rate of return earned from investments will vary according to the amount of risk and, in general, a trade-off exists between the security of an investment and its expected rate of return.
Compare rates of return of a variety of different investments and speculate on the amount of risk each of the investments entails.
SS.8.FL.6.1: Analyze the fact that personal financial risk exists when unexpected events can damage health, income, property, wealth, or future opportunities.
Write a scenario describing how a storm blowing a tree onto a roof can impact a family’s financial situation.
SS.8.FL.6.2: Identify insurance as a product that allows people to pay a fee (called a premium) now to transfer the costs of a potential loss to a third party.
Explain why homeowners buy flood insurance for $300 a year when the likelihood of a flood in their area is extremely low.
SS.8.FL.6.3: Describe how a person may self-insure by accepting a risk and saving money on a regular basis to cover a potential loss.
List examples of potential events and costs against which people might self-insure.
SS.8.FL.6.4: Discuss why insurance policies that guarantee higher levels of payment in the event of a loss (coverage) have higher prices.
Explain how a deductible affects the payout on an auto insurance claim, and how the individual’s choice of deductible affects the price of the policy at the time it is purchased.
SS.8.FL.6.5: Discuss that insurance companies charge higher premiums to cover higher-risk individuals and events because the risk of monetary loss is greater for these individuals and events.
Explain why drivers who receive repeated speeding tickets will see their insurance premiums increase.
SS.8.FL.6.6: Explain that individuals can choose to accept some risk, to take steps to avoid or reduce risk, or to transfer risk to others through the purchase of insurance and that each option has different costs and benefits.
Identify ways in which an automobile driver can avoid, reduce, or transfer the risk of being in an automobile accident.
Explain why people may prefer to purchase insurance against fire in their apartment, but self-insure to handle the cost of tooth cavities.
SS.8.FL.6.7: Evaluate social networking sites and other online activity from the perspective of making individuals vulnerable to harm caused by identity theft or misuse of their personal information.
Identify ways that identity thieves can obtain someone’s personal information.
List actions an individual can take to protect personal information.
MA.K12.MTR.1.1: Actively participate in effortful learning both individually and collectively.  

Mathematicians who participate in effortful learning both individually and with others: 

  • Analyze the problem in a way that makes sense given the task. 
  • Ask questions that will help with solving the task. 
  • Build perseverance by modifying methods as needed while solving a challenging task. 
  • Stay engaged and maintain a positive mindset when working to solve tasks. 
  • Help and support each other when attempting a new method or approach.


Teachers who encourage students to participate actively in effortful learning both individually and with others:
  • Cultivate a community of growth mindset learners. 
  • Foster perseverance in students by choosing tasks that are challenging. 
  • Develop students’ ability to analyze and problem solve. 
  • Recognize students’ effort when solving challenging problems.
MA.K12.MTR.2.1: Demonstrate understanding by representing problems in multiple ways.  

Mathematicians who demonstrate understanding by representing problems in multiple ways:  

  • Build understanding through modeling and using manipulatives.
  • Represent solutions to problems in multiple ways using objects, drawings, tables, graphs and equations.
  • Progress from modeling problems with objects and drawings to using algorithms and equations.
  • Express connections between concepts and representations.
  • Choose a representation based on the given context or purpose.
Teachers who encourage students to demonstrate understanding by representing problems in multiple ways: 
  • Help students make connections between concepts and representations.
  • Provide opportunities for students to use manipulatives when investigating concepts.
  • Guide students from concrete to pictorial to abstract representations as understanding progresses.
  • Show students that various representations can have different purposes and can be useful in different situations. 
MA.K12.MTR.3.1: Complete tasks with mathematical fluency. 

Mathematicians who complete tasks with mathematical fluency:

  • Select efficient and appropriate methods for solving problems within the given context.
  • Maintain flexibility and accuracy while performing procedures and mental calculations.
  • Complete tasks accurately and with confidence.
  • Adapt procedures to apply them to a new context.
  • Use feedback to improve efficiency when performing calculations. 
Teachers who encourage students to complete tasks with mathematical fluency:
  • Provide students with the flexibility to solve problems by selecting a procedure that allows them to solve efficiently and accurately.
  • Offer multiple opportunities for students to practice efficient and generalizable methods.
  • Provide opportunities for students to reflect on the method they used and determine if a more efficient method could have been used. 
MA.K12.MTR.4.1: Engage in discussions that reflect on the mathematical thinking of self and others. 

Mathematicians who engage in discussions that reflect on the mathematical thinking of self and others:

  • Communicate mathematical ideas, vocabulary and methods effectively.
  • Analyze the mathematical thinking of others.
  • Compare the efficiency of a method to those expressed by others.
  • Recognize errors and suggest how to correctly solve the task.
  • Justify results by explaining methods and processes.
  • Construct possible arguments based on evidence. 
Teachers who encourage students to engage in discussions that reflect on the mathematical thinking of self and others:
  • Establish a culture in which students ask questions of the teacher and their peers, and error is an opportunity for learning.
  • Create opportunities for students to discuss their thinking with peers.
  • Select, sequence and present student work to advance and deepen understanding of correct and increasingly efficient methods.
  • Develop students’ ability to justify methods and compare their responses to the responses of their peers. 
MA.K12.MTR.5.1: Use patterns and structure to help understand and connect mathematical concepts. 

Mathematicians who use patterns and structure to help understand and connect mathematical concepts:

  • Focus on relevant details within a problem.
  • Create plans and procedures to logically order events, steps or ideas to solve problems.
  • Decompose a complex problem into manageable parts.
  • Relate previously learned concepts to new concepts.
  • Look for similarities among problems.
  • Connect solutions of problems to more complicated large-scale situations. 
Teachers who encourage students to use patterns and structure to help understand and connect mathematical concepts:
  • Help students recognize the patterns in the world around them and connect these patterns to mathematical concepts.
  • Support students to develop generalizations based on the similarities found among problems.
  • Provide opportunities for students to create plans and procedures to solve problems.
  • Develop students’ ability to construct relationships between their current understanding and more sophisticated ways of thinking.
MA.K12.MTR.6.1: Assess the reasonableness of solutions. 

Mathematicians who assess the reasonableness of solutions: 

  • Estimate to discover possible solutions.
  • Use benchmark quantities to determine if a solution makes sense.
  • Check calculations when solving problems.
  • Verify possible solutions by explaining the methods used.
  • Evaluate results based on the given context. 
Teachers who encourage students to assess the reasonableness of solutions:
  • Have students estimate or predict solutions prior to solving.
  • Prompt students to continually ask, “Does this solution make sense? How do you know?”
  • Reinforce that students check their work as they progress within and after a task.
  • Strengthen students’ ability to verify solutions through justifications. 
MA.K12.MTR.7.1: Apply mathematics to real-world contexts. 

Mathematicians who apply mathematics to real-world contexts:

  • Connect mathematical concepts to everyday experiences.
  • Use models and methods to understand, represent and solve problems.
  • Perform investigations to gather data or determine if a method is appropriate. • Redesign models and methods to improve accuracy or efficiency. 
Teachers who encourage students to apply mathematics to real-world contexts:
  • Provide opportunities for students to create models, both concrete and abstract, and perform investigations.
  • Challenge students to question the accuracy of their models and methods.
  • Support students as they validate conclusions by comparing them to the given situation.
  • Indicate how various concepts can be applied to other disciplines.
ELA.K12.EE.1.1: Cite evidence to explain and justify reasoning.
K-1 Students include textual evidence in their oral communication with guidance and support from adults. The evidence can consist of details from the text without naming the text. During 1st grade, students learn how to incorporate the evidence in their writing.

2-3 Students include relevant textual evidence in their written and oral communication. Students should name the text when they refer to it. In 3rd grade, students should use a combination of direct and indirect citations.

4-5 Students continue with previous skills and reference comments made by speakers and peers. Students cite texts that they’ve directly quoted, paraphrased, or used for information. When writing, students will use the form of citation dictated by the instructor or the style guide referenced by the instructor. 

6-8 Students continue with previous skills and use a style guide to create a proper citation.

9-12 Students continue with previous skills and should be aware of existing style guides and the ways in which they differ.

ELA.K12.EE.2.1: Read and comprehend grade-level complex texts proficiently.
See Text Complexity for grade-level complexity bands and a text complexity rubric.
ELA.K12.EE.3.1: Make inferences to support comprehension.
Students will make inferences before the words infer or inference are introduced. Kindergarten students will answer questions like “Why is the girl smiling?” or make predictions about what will happen based on the title page. Students will use the terms and apply them in 2nd grade and beyond.
ELA.K12.EE.4.1: Use appropriate collaborative techniques and active listening skills when engaging in discussions in a variety of situations.
In kindergarten, students learn to listen to one another respectfully.

In grades 1-2, students build upon these skills by justifying what they are thinking. For example: “I think ________ because _______.” The collaborative conversations are becoming academic conversations.

In grades 3-12, students engage in academic conversations discussing claims and justifying their reasoning, refining and applying skills. Students build on ideas, propel the conversation, and support claims and counterclaims with evidence.

ELA.K12.EE.5.1: Use the accepted rules governing a specific format to create quality work.
Students will incorporate skills learned into work products to produce quality work. For students to incorporate these skills appropriately, they must receive instruction. A 3rd grade student creating a poster board display must have instruction in how to effectively present information to do quality work.
ELA.K12.EE.6.1: Use appropriate voice and tone when speaking or writing.
In kindergarten and 1st grade, students learn the difference between formal and informal language. For example, the way we talk to our friends differs from the way we speak to adults. In 2nd grade and beyond, students practice appropriate social and academic language to discuss texts.
ELD.K12.ELL.SS.1: English language learners communicate information, ideas and concepts necessary for academic success in the content area of Social Studies.

General Course Information and Notes


This course consists for the following content areas and literacy strands:  Financial Literacy, Economics, Mathematics, Language Arts for Literacy in History/Social Studies and Speaking and Listening.  Content standards are geared toward deepening students' understanding of personal financial literacy through an economic perspective.  A basic understanding of economics provides a critical framework to make informed decisions about budgeting, saving, and investing.  In learning basic economics, students come to appreciate that choices have costs and benefits, and that it is often necessary to sort through complex information and weigh multiple costs and benefits before arriving at a decision.  Emphasis will be placed on economic decision-making and real-life applications using real data.

The primary content for the course pertains to the study of learning the ideas, concepts, knowledge, and skills that will enable students to make sound personal finance decisions; to become wise, successful, and informed consumers, savers, borrowers, investors, risk managers, and future employees or employers; and to be participating and informed members of the global economy.

The content for the course is primarily developed around six standards from the state academic standards (SAS) Financial Literacy Strand:

  • Earning Income
  • Buying Goods and Services
  • Saving
  • Using Credit
  • Financial Investing
  • Protecting and Insuring

Content included in these standards includes, but may not be limited to:

  • analyzing cost/benefit of economic decisions
  • identifying different types of education and training required by various careers
  • understanding the effect of acquiring education and skills on future income
  • measuring the opportunity cost that education and training have in terms of time, effort, and money
  • exploring the variety of payment method options
  • classifying expenses in a budget
  • assessing the quality and usefulness of information from marketers
  • understanding the role of financial institutions as intermediaries between savers and borrowers
  • understanding the role of government agencies in protecting savings deposits
  • examining the difference between principal and interest
  • identifying the time value of money
  • explaining how people's tastes and preferences influence their choice of how much and what to save for
  • understanding why people use credit
  • identifying a credit card purchase as a loan from the issuer of the card
  • explaining why interest rates vary across borrowers
  • examining how a credit card user can avoid interest charges
  • understanding the variety of possible financial investments
  • calculating the rates of return on an investment and understanding why it may vary among financial products
  • identifying insurance as the transfer of risk through risk pooling
  • understanding each option for managing risk (assume it, reduce it, insure it) entails a cost 
  • preventing identify theft and fraud

Special Notes

Instructional Practices:  Teaching using real world materials, examples, and simulations enhances students' content area knowledge and also strengthens their ability to comprehend concepts related to personal financial literacy.  Using the following instructional practices will also help student learning.

  1. Incorporating current event articles on economic developments related to personal financial literacy.
  2. Having students create economic models that reflect key concepts and economic decisions.
  3. Use real world data and evidence to answer complex, high-level questions that are based on real world scenarios.
  4. Require students to make and support personal financial decisions using evidence and trends.
  5. Provided extended learning opportunities that simulate economic scenarios including, but not limited to:
    • opening a bank account
    • searching for and being offered a new job
    • planning and managing a household budget
    • analyzing the motivation and techniques of marketers
    • making a major purchase such as a home or automobile
    • applying for a credit card
    • planning for college expenses
    • filing a tax return
    • managing an investment portfolio


Florida’s Benchmarks for Excellent Student Thinking (B.E.S.T.) Standards:

This course includes Florida’s B.E.S.T. ELA Expectations (EE) and Mathematical Thinking and Reasoning Standards (MTRs) for students. Florida educators should intentionally embed these standards within the content and their instruction as applicable. For guidance on the implementation of the EEs and MTRs, please visit https://www.cpalms.org/Standards/BEST_Standards.aspx and select the appropriate B.E.S.T. Standards package.

English Language Development (ELD) Standards Special Notes Section:

Teachers are required to provide listening, speaking, reading and writing instruction that allows English language learners (ELL) to communicate information, ideas and concepts for academic success in the content area of Social Studies.  For the given level of English language proficiency and with visual, graphic, or interactive support, students will interact with grade level words, expressions, sentences and discourse to process or produce language necessary for academic success. The ELD standard should specify a relevant content area concept or topic of study chosen by curriculum developers and teachers which maximizes an ELL’s need for communication and social skills. To access an ELL supporting document which delineates performance definitions and descriptors, please click on the following link: {{AzureStorageLink}}/uploads/docs/standards/eld/ss.pdf.

Open Educational Resources (OEL)

There are a number of free financial literacy resources designed for middle school students that are available, providing both full service lesson plans and online digital modules.  Please review the curriculum to determine it if is suitable for your educational needs before using.

General Information

Course Number: 2104060 Course Path: Section: Grades PreK to 12 Education Courses > Grade Group: Grades 6 to 8 Education Courses > Subject: Social Studies > SubSubject: Interdisciplinary and Applied Social Studies >
Abbreviated Title: M/J INTRO PERSFINLIT
Course Attributes:
  • Florida Standards Course
Course Type: Elective Course Course Level: 2
Course Status: State Board Approved
Grade Level(s): 6,7,8

Educator Certifications

Social Science (Grades 5-9)
Social Science (Grades 6-12)
Business Education (Grades 6-12)
Family and Consumer Science (Grades 6-12)
Mathematics (Grades 6-12)

There are more than 698 related instructional/educational resources available for this on CPALMS. Click on the following link to access them: https://cpalms.org/PreviewCourse/Preview/21905