What grade levels do these standards cover?

Grade 1, Grade 2, and Kindergarten

Where can I read the official document?

Iowa Core 21st Century Skills - Financial Literacy

Develop short-term and long-term financial goals.
1. •
  Define goals.
2. •
  Identify a personal goal.
3. •
  Identify a group/team goal.
Understanding needs vs. wants.
1. •
  Define wants and needs.
2. •
  Know the importance of needs and wants.

Develop a realistic spending plan for financial independence.
1. •
  Describe the exchange of goods and services as part of the monetary system.
2. •
  Identify the outcome of spending money.
Understand various sources of compensation.
1. •
  Recognize sources of income for children such as allowances and gifts.
Understand the distribution of resources.
1. •
  Explain spending versus savings.
2. •
  Recognize that items cost money.
Understand financial instruments.
1. •
  Distinguish different types of money (bills, coins).
2. •
  Identify the values of each type of money.

Identify responsible credit management.
1. •
  Discuss the meaning of credit.
Understand different types of debt.
1. •
  Recognize the concept of the money behind the credit.
Understand rights and responsibilities as borrowers.
1. •
  Explain that a borrowed item needs to be returned.
2. •
  Demonstrate that if loaned, an item should be returned.

Establish strategies for protection of identity.
1. •
  Describe what an identity is.
2. •
  Recognize that everyone has an identity.
Recognize different types of insurance.
1. •
  Recognize ways people can lose possessions.
2. •
  Demonstrate ways to protect possessions.
3. •
  Recognize the consequences of loss.
Recognize different types of non-insurance protection.
1. •
  Explain how written notes, emails, or phone calls between school and home can help prevent misinformation.
2. •
  Recognize the role of adults in providing safety.

Recognize investment options.
1. •
  Identify the value of saving.
Distinguish investment options.
1. •
  Explain the difference between a piggy bank and financial institutions.
Understand the relationship between investment risk and return.
1. •
  Explain that something loaned may or may not be returned.

Recognize the local, state, national, and international impact of personal financial habits and actions.
1. •
  Recognize that the Internet connects people around the world.
2. •
  Recognize that people come from various cultures, backgrounds, and home situations.
Demonstrate responsible financial behaviors, at the personal, local, state, national, and international levels.
1. •
  Recognize that individuals have choices in spending and saving.
2. •
  Explain that there are appropriate behaviors and expectations for different settings.

What grade levels do these standards cover?: Grade 1, Grade 2, and Kindergarten
When were these standards adopted?: 2010
Where can I read the official document?: Iowa Core 21st Century Skills - Financial Literacy

Keep exploring

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21st Century Skills

Iowa