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Become familiar with and describe the advantages and disadvantages of short-term purchases, long-term purchases, and mortgages.
General Information
Number: MA.912.F.3
Title: Loans and Financing
Type:
Standard
Subject: X-Mathematics (former standards - 2008) - Archived
Grade: 912
Body of Knowledge: Financial Literacy
Related Benchmarks
This cluster includes the following benchmarks.
Related Access Points
This cluster includes the following access points.
Independent
MA.912.F.3.In.a
Identify wise consumer strategies for cash purchases, such as counting change, rounding up, and adding the tax.
MA.912.F.3.In.b
Identify advantages and disadvantages of using alternate forms for payment, such as checks, gift cards, debit cards, and credit cards.
MA.912.F.3.In.c
Identify finance charges as extra amounts added to cost of items that are not paid for on time.
MA.912.F.3.In.d
Recognize that deferred payments result in extra charges, such as increased interest rates.
MA.912.F.3.In.e
Identify reasons for paying bills on time and the effects of late payments or nonpayment.
MA.912.F.3.In.f
Identify resources and strategies for purchasing costly items, such as a car and a house.
Supported
MA.912.F.3.Su.a
Use wise consumer strategies for paying with cash, such as rounding to the next dollar.
MA.912.F.3.Su.b
Identify examples of alternate forms of payment, including debit cards, checks, gift cards, and credit cards.
MA.912.F.3.Su.c
Identify the effects of not paying bills on time.
Participatory
MA.912.F.3.Pa.a
Recognize that a predetermined amount of money can be used to pay for an item in common purchasing situations.
Related Resources
Vetted resources educators can use to teach the concepts and skills in this topic.
Video/Audio/Animation
Student Resources
Vetted resources students can use to learn the concepts and skills in this topic.
Video/Audio/Animation
Introduction to Dangers of Using Credit:
This episode of Warren Buffet's Secret Millionaire's Club (4 minutes) introduces the dangers of using credit and only making the minimum monthly payment.
Type: Video/Audio/Animation
Parent Resources
Vetted resources caregivers can use to help students learn the concepts and skills in this topic.
