Pennsylvania Personal Finance Standards: Helpful Resources

Pennsylvania Personal Finance Standards Alignment

Find out which of our lessons or games reinforce the individual
knowledge statements for grades 9 to 12 from the Academic Standards for Personal Finance for Pennsylvania.

Legend:

Long-Term Game
Comprehensive Chapter
Short Lesson
Interactive Calculator
Includes Automatically-Graded Assessment

Standard	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
17.1 Personal Finance Fundamentals
Financial Goal Setting and Decision Making: Determine the financial impact of various long-term goals (e.g., lifestyle, family, education). Apply a systematic decision making process, including opportunity costs, to setting and achieving financial goals.	Budget Game – Core Component Activity – Use the Saving to be a Millionaire Calculator Lesson – Career Development Lesson – Work vs Study Lesson – Family Planning Lesson – Preparing for Retirement Planning Long Term Purchases
Financial Mindset and Behaviors: Analyze the impact of various factors on a person’s financial mindset and decisions. Evaluate strategies for dealing with behavioral biases and other obstacles to managing personal finances. Assess the value of sharing financial goals and information with others.	Budget Game – Core Component Lesson – Career Development Lesson – Family Planning Lesson – What is Wealth?
Financial Services: Compare various financial service providers (e.g., banks, credit unions, check cashers, brokerage firms) and the types of accounts and services each provides. Communicate the process of opening financial accounts and the factors to consider when selecting financial institutions and professionals. Evaluate the use of financial technology to access financial services and make financial decisions.	Lesson – Banks, Credit Unions, and Savings and Loans Lesson – Debit Cards Lesson – When to Hire a Tax Professional
Financial Record Keeping: Develop a system for documenting and organizing personal financial records, both paper and electronic. Explain the financial implications of wills, powers of attorney, and naming beneficiaries for various accounts.	Lesson – Financial Records and Receipts Lesson – Simple and Living Wills Lesson – Life Insurance
Consumer Protection: Explain the role of various state and federal financial regulators and consumer protection agencies. Describe the issues addressed by various laws and regulations that impact or safeguard a person’s finances.	Lesson – Consumer Rights and Responsibilities Lesson – Protecting Against Fraud Lesson – Credit Cards Lesson – What Makes a Contract Valid?
17.2 Income	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Source of Income: Explain various types of income (e.g., earned, unearned, passive, active) and their sources (e.g., work, rentals, investments, government programs). Describe sources of retirement income and how they relate to individual investment choices, employer-sponsored retirement plans, and government programs.	Lesson – Income and Compensation Lesson – Unemployment and Other Programs Lesson – Workplace Benefits Lesson – Preparing for Retirement Lesson – Building Wealth Lesson – Investing Strategies
Factors Influencing Income: Use data to support an individual’s decision to obtain or forgo post-secondary education based on the associated costs and anticipated future income. Research options to pay for education and training, ways to reduce the total cost, and steps needed to obtain financial aid. Evaluate the impacts of technology, labor markets, and economic conditions and trends on a person’s employment potential. Explain the impact of employee benefits (e.g., health insurance, retirement savings plans, education reimbursement programs) on an individual’s finances.	Lesson – Work vs Study Lesson – Career Development Lesson – Income and Compensation Lesson – Workplace Benefits Lesson – Starting a Business Lesson – Student Loans
Self-Employment and Supplemental Income: Analyze the financial impact of a person’s decision to own a business, work as an independent contractor, or be employed.	Lesson – Career Development Lesson – Employer and Employee Rights and Responsibilities Lesson – Starting a Business
Income and Payroll Taxes: Calculate the impact of taxes and payroll deductions on income. Complete various federal, state, and local tax forms.	Budget Game – Core Component Activity – Practice Filing The Form 1040 Lesson – Taxation Overview Lesson – Payroll taxes
17.3 Spending	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator	Graded Assessment
Spending Decisions: Develop a process for making informed spending decisions, including factors to consider (e.g., product features, price, durability, environmental or societal impact, reliability of information). Compare ways people can lower the price they pay for goods and services (e.g., online tools, discount retailers, negotiating, secondhand items).	Budget Game – Core Component Lesson – Researching Spending Lesson – Planning Long Term Purchases Lesson – Spending and Savings Plans
Developing a Budget: Develop a personal approach to keeping track of income and spending. Evaluate various budgeting approaches (e.g., 50-30-20, zero-based) and methods (e.g., envelope system, spreadsheets, online tools). Create a personal budget to allocate current or future income, including estimates for fixed and variable expenses. Identify methods for adjusting a budget for unexpected expenses or loss of income.	Budget Game – Core Component Lesson – Budgeting Lesson – Preparing for Spending Shocks
Payment Methods: Compare the effects of using various payment methods when making purchases. Compare various approaches to paying bills, including making automated payments and ensuring bills are paid on time. Describe the impact of technology on payment methods and how it influences spending.	Budget Game – Core Component Activity – Use the Buy vs Lease Calculator Lesson – Automatic Payments Lesson – What is Money?
Major Life Purchases: Analyze a housing decision, including comparing renting and buying, upfront and ongoing costs, and the process of obtaining a mortgage or a lease. Justify the purchase or lease of a vehicle and the alternatives considered (e.g., new versus used, total cost of ownership or use).	Lesson – Mortgages Lesson – Buying a Car Activity – Use the Buy vs Lease Calculator Activity – Use the Home Budgeting Calculator
Sales and Property Taxes: Analyze the impact of paying sales, excise, and property taxes on financial decisions.	Lesson – Taxation Overview Lesson – Sales Tax
Charitable Giving: Justify a decision to participate in or forgo a fundraising effort based on the organization and cause.	Lesson – Charitable Giving
17.4. Saving and Investing	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator
Asset Building: Calculate a person’s net worth given their assets and liabilities.	Budget Game – Core Component Watch Video – Net Worth Activity – Use the Net Present Value Calculator
Saving: Develop a savings plan for accomplishing personal short- and long-term financial goals. Compare the features of various savings vehicles (e.g., savings accounts, certificates of deposit, money market accounts) and the interest rates offered by several institutions.	Budget Game – Core Component Investing 101 – Chapter 01. Introduction to Investing Lesson – Budgeting Lesson – Pay Yourself First Lesson – Investing Strategies Lesson – Importance of Interest Rates
Investing: Explain factors that contribute to rates of return for various investments, including risk, inflation, and taxes.	Activity – Use the Investment Return Calculator Lesson – Risk Lesson – Inflation Lesson – Tax Additions
Explain the similarities and differences between stocks, bonds, mutual funds, and exchange-traded funds, and the factors that influence price fluctuations for each.	Stock Game – Core Component Lesson – What is a Stock? Lesson – What is an ETF? Lesson – What is a Mutual Fund? Lesson – What are Bonds Lesson – Understanding Price Movements
Describe factors to consider when selecting sources of investment advice and trading methods (e.g., online trading platforms, financial advisors, robo-advisors).	Stock Game – Core Component Watch Video – Investment Research Activity – Basic Research and Comparing Stocks
Explain how popular benchmark indices are used.	Investing 101 – Chapter 03. Making Your First Trade Investing 101 – Chapter 04. Building Your $100,000 Portfolio
Recommend an investment portfolio diversified to meet specific goals, including purpose, starting age, time horizon, and tolerance for risk.	Stock Game – Core Component Lesson – Building a Diversified Portfolio
Compare retirement-specific investment options, including employer-sponsored plans, Roth and traditional individual retirement accounts, and accounts available to people who are self-employed.	Lesson – Preparing for Retirement Lesson – Building Wealth Lesson – What are Annuities
Investing Risk Tolerance: Analyze personal attitudes towards risk and how these might impact future investment decisions and outcomes. Describe methods to avoid or counteract the potentially negative impacts of behavioral biases on investment decisions.	Stock Game – Core Component Investing 101 – Chapter 01. Introduction to Investing Investing 101 – Chapter 05. Now That I Own It, What Should I Do? Lesson – Building a Diversified Portfolio Lesson – Investing Strategies Lesson – Risk
17.5. Risk and Insurance	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator
Risk Ientification and Management: Evaluate a person’s potential for financial risk (e.g., loss of personal property, reduction in income, liability). Critique approaches to avoiding, reducing, retaining, and transferring risk given a particular scenario.	Lesson – Risk Lesson – Protecting Against Fraud Lesson – Understanding Price Movements Lesson – The Business Cycle Lesson – Inflation
Insurance: Formulate insurance recommendations based on individual needs, situations, and preferences, including but not limited to automotive, homeowners, renters, health, life, and disability, as justified. Use information from various sources to compare insurance providers, plans, and prices. Formulate a process of comparing insurance products, determining out-of-pocket costs, and filing claims. Describe circumstances in which a person may be required to show proof of insurance or obtain a minimum amount of coverage. Evaluate the impact of public insurance programs for individuals facing financial hardship (e.g., Medicare, Medicaid, and unemployment).	Lesson – Renter’s Insurance Lesson – Home Owner’s Insurance Lesson – Car Insurance Lesson – Life Insurance Lesson – Disability Insurance Lesson – Health Insurance
Financial Fraud and Identity Theft: Analyze trends in financial fraud and strategies to avoid becoming a victim. Research the agencies individuals can contact and steps they can take to address financial fraud and scams, including identity theft.	Lesson – Protecting Against Fraud
17.6. Credit	Activity	Long-Term Game	Comprehensive Chapter	Short Lesson	Interactive Calculator
Credit Use and Benefits: Evaluate pathways to obtaining credit and what lenders look for in a borrower (e.g., character, capacity, capital, collateral). Describe how credit reports and scores are determined, used, and improved.	Lesson – Using Credit Lesson – Credit Cards Lesson – Short-Term Financing Lesson – Credit Reports
Types of Credit: Compare various forms of credit and how each is used (e.g., secured and unsecured loans, installment and revolving credit, service credit). Analyze the use of loans to finance higher education and home purchases, how they are obtained, and options for paying them back.	Lesson – Good Debt, Bad Debt Lesson – Short-Term Financing Lesson – Mortgages Lesson – Student Loans
Costs of Credit: Calculate the total cost of credit given a variety of situations (e.g., making minimum payments, paying fees, using alternative financial service providers). Describe the consequences of failing to repay debts and sources of debt management assistance.	Budget Game – Core Component Activity – Use the Credit Card Payments Calculator Lesson – Managing Debt Lesson – Debt Management Services
Credit Rights and Responsibilities: Evaluate various rights and laws related to credit and their impact on consumers.	Lesson – Credit Cards Lesson – Credit Reports Lesson – Bankruptcy Lesson – Student Loans